Penny Stocks On The Move - CMGI, WAVX

• CMGI Inc.(CMGI): we began coverage of the supply chian management software maker last November with a Strong Buy rating. With another 7% gain on Friday to $1.7 per share, the stock has gained 30%. The technical chart shows bullish sign as 50 day moving average is still on top over 200 day moving average with MACD on top of 0. Now with K line back above D line this would be a good time to buy the stock. [Strong Buy]
• Wave System Corp. (WAVX): the coverage of the digital security services provider began last June around $2.34 per share with a Buy rating. On firday the stock rose 6.45% to $2.64 per share on no news announcement. The technical chart shows possible rally as K line is now above D line. In addition with stock breaking above 50 day MA we would probably see the stock going up more. [Buy]