Penny Stocks On The Move - CAU, DVW, GV, ISIG, MZT, TGC

• Canyon Resources Corp. (CAU): shares of the Golden, Colorado based gold mining company surged 9.28% or 9 cents to $1.06 per share on broad market surge. Looking at the technical chart the stock has the chance to be back to strong bull market rally as: 1. the stock is back above 50 day and 200 day moving average, a bull market sign 2. ROC is rising from oversold level which should attract bargain hunters 3. K line is about to cross on top of D line showing possibility of rally. The only weak signal is MACD where it is slightly below 0. [Accumulate]
• Covad Communications Group Inc. (DVW): shares of San Jose, CA based DSL and VoIP service provider jumped 8.94% or 16 cents to $1.95 per share. The technical chart shows possibility of rally coming as K line is rising towards D line. In addition ROC has just rose from oversold level and should attract bargain hunters. However the stock is still in bear market as MACD and signal line are still below 0. The coverage of the stock began on January 7 at $1.04 per share and the stock has since gained 87.5%. [Accumulate]
• Goldfield Corp. (GV): shares of Melbourne, Florida based electrical construction and maintenance services provider gained 8.03% or 11 cents to $1.48 per share on second day of major market rally. The technical chart shows possibility of new rally as K line is about to cross on top over D line. In addition current level of ROC should attracts buyers as it is still sitting at oversold level. However the stock is still weak as MACD is below 0 and stock is below 50 day moving average. [Accumulate]
• Insignia Systems Inc. (ISIG): two days ago we gave an accumualte rating on the Maple Grove, Minnesota based advertising service company as the technical indicators still show strong signal despite ROC showing overheating sign. After today's 12.58% jump to $1.7 per share the technical chart is still showing the same trend as stock is still on top of 50 day and 200 day moving average with MACD on top of signal line. In addition KD show buy signal as K line is again on top of D line. ROC is still showing overheating signal as it is approaching overbuy. The coverage on the stock began last Monday at $1.4 per share and the stock has since gained 21.43%. [Accumulate]
• Matritech Inc. (MZT): shares of Newton, MA based cancer diagnostic produts maker surged 10.99% or 10 cents to $1.01 per share on makret rally. Last Tuesday we issued the buy alert on the stock citing the recent sell-off is almost over. This could be the time for the rally to come as the technical chart shows K line is almost ready to cross on top of D line while ROC has just rose from oversold level. However MACD still shows weak signa as MACD and signal line are both below 0. [Accumulate]
• Tengasco Inc. (TGC): shares of Knoxville, TN based oil and natural gas exploration company soared 10.43% or 12 cents to $1.27 per share. The technical chart shows new rally has just begun as K line has just crossed on top over D line. In addition low ROC at oversold level should also attracts more buyers. However some weakness remains as MACD is below 0 and stock is below 50 day moving average. The stock was covered in early February at 91 cents per share and has since gained 39.56%. [Buy]