4 Penny Stocks to Watch in April 2010: ARDNA, AACC, ZZ, VTIV
The first full week of April is now upon us, bringing us another fresh month to reap some penny stock profits. So, without further ado, we’re off to a new penny stock watchlist for this week…
In case you’re not familiar, each week, the Penny Sleuth takes a look at a list of penny stocks that are exhibiting abnormal volume, strong technicals, upcoming news, or another catalyst that suggested they might be making a material move in the coming week.
As usual, while our Watchlist errs on the safe side of small-caps, using technical analysis to tell us where a stock is headed, we’ve opened the comments up to readers again this week, giving you the chance to offer up more speculative penny stock plays.
Check out the comments after this article to get a glimpse at a slew of new user-submitter penny stock picks – and the chance to submit your own!
First, though, let’s take a look at this week’s breakout penny stocks worth watching… Remember, if you want to get first crack at these penny stock plays, make sure you’re following me on Twitter!
Arden Group (NASDAQ: ARDNA) – If there was ever a good example of how price doesn’t matter in the small-cap world, the Arden Group is it. This stock currently trades for $106 per share, but with a market cap of only $336 million, the company behaves exactly like any $2 penny play. And with an ascending triangle forming in shares right now, that behavior could be straight up. Don’t consider taking your own stake until shares break through $110.
Asset Acceptance Corp (NASDAQ: AACC) – Michigan-based consumer debt purchaser Asset Acceptance Corporation is this week’s sole short-side play. The company is forming a bearish technical pattern alongside fundamentals that are anything but rock solid in today’s economy. Keep your distance from this stock for now…
inVentiv Health Inc. (NASDAQ: VTIV) – Health service company inVentiv Health broke out in a big way in late March on news that the company could be getting acquired. But because no solid details have been available to investors as of yet, the speculative nature of this trade makes it an interesting one for us. A pennant pattern points to a second leg of VITV’s rally in the next week or so.
Sealy Corporation (NYSE: ZZ) – Shareholders of this mattress maker have been sleeping well lately – shares are up 20% in the last six months. But an ascending triangle pattern could have shares significantly higher this month if they’re able to stage a breakout above resistance. Keep an eye on this stock.
Share Your Penny Stock Picks
Once again, we’re going interactive this week…
Just post your best penny stock pick in the comments section of this week’s Watchlist by Friday, April 9.
April 5, 2010
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