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Monday, August 16, 2010

Penny Stock Pick - APPY

Shares of AspenBio Pharma Inc(APPY) surged 9.62% today on no news announcement. However looking at the performance of the stock for the past three months, today's activity is very likely bargain hunting as the stock has lost 90% of its value from its 52 week high about 4 month ago. Could this be the dead cat bouncing? Or could this be the beginning of a comeback?

From the financial side the company looks shaky as the revenue of the latest quarter is still miserable pair with huge net loss. The cash flow shows the company is still selling stocks to maintain health cash position. Lastly the balance sheet shows the company still has enough cash to last for probably 4 quarters.

technical chart show weakness as the stock is trading way below 50 day moving average. However with relative strength so low and KD beginning to point up, there is a chance that the recovery could continue.

The insider transactions show positive sign as the officer finally began to purchase stock in July at 71 cents per share for 10500 shares. This reverse the selling trend for the year and if there is additional insider buying this could mean a perfect time to buy.


Anonymous Penny Stock Picks said...

APPY is coming up in the market again and making its position . In three months they have made a good progress in which this month has being great for them .

2:39 AM  
Blogger alen mcmilan said...

I am also agree with you APPY has to really nicely grow up her share last time my so many friends has told me about that. I think again it will be very nicely rich in the market.
Penny Stock Blog

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