Penny Stocks On The Move - QSC, SIGA, VRA

• Questcor Pharmaceuticals Inc.(QSC): shares of the Union City, CA based pharmaceutical company surged 16.67% to $1.26 per share as the drug maker appointed new chief executive officer. The technial chart shows the stock bounced back as ROC was at oversold level. Now with K line on top over D line we could see rally coming. With the stock still weak as MACD is still below 0, the best the stock can go so far is probably $1.5 or around the 50 day moving average. [Accumulate]
• SIGA Technologies Inc. (SIGA): shares of the New York based biological wafare defense product maker skyrocketted 130% on heavy volumn to $4.54 per share as its lead drug proved to be successful against smallpox. The stock was first covered in May with a "Strong Buy" rating. With ROC now showing the stock is way overbought, we will see some profit taking for a while. However once the profit taking is done, then we should see the stock go higher as the stock is in bull market with 50 day moving average now on top over 200 day moving average. [Hold]
• Viragen Inc. (VRA): shares of Plantation, Florida based biopharmaeutical company on treatment of cancers soared 32.26% to 41 cents per share. The technical chart shows the stock is back to new rally as K line is on top of D line. With MACD about to go back above 0 the stock could see more upside movement. [Buy]