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Tuesday, March 06, 2007

Penny Stocks On The Move - ANO, CYTR

  • Anooraq Resources Corporation (ANO): shares of Vancouver, Canada based mineral properties holder in South Africa rose 6.84% to $1.25 per share. The technical chart shows the stock is still in strong bull market as 50 day moving average on top over 200 day moving average with MACD above 0. KD line is one indicator to watch as both line are currently tangled together and may go either way. [Accumulate]
  • CytRx Corp. (CYTR): the coverage of the Los Angeles based biopharmaceutical company began on October 25 at $1.31 per share with accumualte rating. So far the stock has gained more than 200%. On Tuesday the stock rose 8.24% to $4.07 per share as it bounce back from the recent profit taking. The technical chart shows the stock is in a bull market with 50 day moving average on top over 200 day moving average and MACD is above 0. However KD is currently showing weakness as K line is still below D line so do expect possible correction. [Accumulate]

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