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Thursday, September 16, 2010

Penny Stock Pick - VLNC

Shares of Valence Technology (VLNC) have been rising significant this month, going from 79 cents end of Augusts to $1.09 today gaining almost 40%.  Take a deeper look at what's happening and could give us a better idea if this is just a short pump or beginning of upside.


From the fundamental side the company is in the right industry.  As a producer of lithium battery for cars, Valence should benefits from the Obama Administration's focus on clean energy especially on electric cars.  In addition the $19 million dollar contract with Wrightbus in UK last Thursday also indicates the company is benefiting even from outside US as cleaning energy is also the focus of the other part of the world.


The technical chart also indicates bullish sign as the 20 day moving average has crossed above 50 day moving average with KD going up and MACD in positive territory.  The recent insider buying of 7 million shares at 76 cents per share is also another positive indication that the insider are now bullish about the company.


The only weakness is the financial where the company is still losing lots of money.  However if the company can continue to earn record revenue as it did in the latest quarter, the financial situation could improve eventually.

7 Comments:

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