Penny Stocks On The Move - BSML, DVW, NXXI

• BriteSmile Inc. (BSML): shares of Walnut Creek, CA based teeth whitening product maker surged for the second day by adding 13.04% or 15 cents to $1.3 per share. The technical chart shows the stock was on a bouce back rally as K line is rising on top of D line. Another indicator MACD also show positive sign as it has also rose near 0. Moreover the stock is on top of 50 day and 200 day moving average and has the chance to bring 50 day moving average above 200 day moving average to bring the stock back to bull market. For the mean time the stock is still weak as MACD signal is well below 0 and 200 day moving average is still sliding. [Hold]
• Covad Communications Group Inc. (DVW): shares of San Jose, CA based DSL and VoIP service provider rose 10.06% or 18 cents to 52 weeks high fo $1.97 per on analyst citing the company a possible take-over target. The technical chart shows the buyers are back after seeing ROC at oversold level and K line is ready to cross on top over D line. However the stock is now becomming weak as MAD and signal line are below 0 and the stock is below 50 day moving average. Now the stock is also at a critical point as it is approaching pressure at 50 day moving average. The coverage of the stock began on January 7 at $1.04 per share with a "Strong Buy" rating and the stock has since gained 89.42%. [Hold]
• Nutrition 21 Inc. (NXXI): shares of Purchase, NY based chromium-based nutrition products maker rose 8.29% or 17 cents to $2.22 per share after the company raised $10 million in prviate placements and would issue 2 million five-year warrants exercisable at $2.2 per share. The technical chart shows a new rally is about to begin as K line has just crossed on top over D line as the stock is again back above 50 day moving average. In addition since ROC has began to rise from oversold level there is plenty of upside for the stock. The stock was first covered on Januar 14 at $1.18 per share with a "Buy" rating and has since gained 88.14%. [Strong Buy]