Could These Stocks Be Headed Higher Today: KFRC, ATLO, UNTD, MDAS
6.39%. That’s how far S&P’s broad market index of Wall Street’s 500 biggest stocks fell last week. It’s a number that gives last week the distinction of being the worst single week loss for the market since October 2008…
The culprit was largely the unrest that’s going on in Greece. As Greek citizens fight the urgent budget cuts the government is making to keep its head fiscally afloat, investors the world around are getting anxious about the prospect that other Eurozone countries could face similar troubles getting their finances in line with reality.
And the euro has taken a shellacking as a result…
To curb the carnage, European finance ministers have approved a big ticket loan guarantee program that’s designed to quell fears that countries – and their sovereign debt obligations – could be left to dry in the near term. Already, it looks like that loan package is set to push markets up in Monday’s pre-market. To make the most of that bullish sentiment with penny stocks, let’s take a look at this week’s technical watchlist…
If you’re new to our format, 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…
Ames National Corp. (NASDAQ: ATLO) – Small-cap regional banking company Ames National owns a portfolio of five Midwest banks. But for investors, what’s more important are Ames’ sky-high profit margins. And with a bullish inverse head and shoulders pattern forming in the stock right now, there’s plenty of reason to believe that good times are ahead for this stock. Wait for shares to break through shoulder level before going long… then hold on tight.
Kforce (NASDAQ: KFRC) – Staffing company Kforce provides its clients with professionals who work in a bevy of fields. But the past couple of years haven’t been easy for Kforce, given paper-thin margins and a less than appealing job market. Still, shares could soon be forming a bounce off support, so keep a close eye on them this week.
United Online (NASDAQ: UNTD) – Internet services company United Online has expanded its offerings in the past several years, moving from its roots as an low cost ISP to its current portfolio of web properties. Still, this stock looks like it has lower to go. With support all the way down at $6, the downside potential looks pretty good. Watch out for bullish sentiment this week, however. That could derail any hopes for a downside play.
MedAssets (NASDAQ: MDAS) – MedAssets specializes in technology enabled products and services for the medical field. This stock is one of the few trading today that looks primed for a bounce higher off of support. As always, wait for the confirmed bounce before putting your money on the line.
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, May 14.
Cheers,
Jonas Elmerraji
Managing Editor, Penny Sleuth
May 10, 2010
Jonas Elmerraji
A big-four public accounting alum, Jonas Elmerraji brings his readers extensive expertise in small-cap stocks and broad market moves. Elmerraji’s interest in the market started with an investing course in elementary school – today he holds a degree in financial economics from UMBC and specializes in blending fundamental and technical analysis. Elmerraji has contributed to Forbes, TheStreet.com, and Investors Business Daily among others. He is managing editor of the Penny Momentum Trader, and a co-editor of Penny Stock Fortunes.
The Penny Sleuth, presented by Agora Financial, features articles on penny stocks, options, small-cap stocks, pink sheet stocks and OTCBB coverage.
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tdgi .pk is thebest reverse meger ive ever looked at it has the best chance at really making some money
Keep an eye out for Nevada Mining…nmcx..o.t.c.bb…great assays and when drilling starts this could be huge !
I mention NPHC last week on Friday to everyone and today it is starting to go as it nears a short squeeze trigger of .45 and today it is up 20% at .40 – NPHC is poised for a major run, good entry point right now!
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I still like HPLF, in spite of todays results. Not much volume today
A real oppertunity – NPDT Newport Digital Tachnologies
thanks for the tip!
Today was very interesting. Many of my investments charged to the upside and refused to be beaten down
any further. I will state right here that i ‘jumped the gun’ buying CKEC a few weeks ago at my initial entry point of $17.30 per share. …But i had no clue what the next two weeks had in store and i am still damned glad i bought them. …I look long. …’Think of stocks as you think of driving your car’ …hang with me here!
…You don’t drive staring over your hood at the three feet of road in front of you, if you do you are subject to
a major collision with maximum damage at 65 mph. …Instead you have to see the long road ahead with clarity. My thesis about CKEC is as valid as when i sent it as a comment a few weeks ago. I can easily see
a $36 per share stock by 2011 by their insight into the 3-D movie revolution, ..and when ‘i’ was a teenager and took chicks to the movies in the late ’70′s… no 3-D then, just taking chicks to the movies so they get scared and grab you for support. Financials and bio-pharma decided they were too important to take such
a stupid idiotic hit like last week. ..And last but not least, the europeans decided to do something about the
greek stupidity. I will call it like it is! …Greece has a ‘democracy’ , a democracy is nothing more than 3 wolves and 2 sheep deciding what to have for dinner! … In other words, those that produce are nothing more than fodder for those that consume and want another handout from the Govt. ….The welfare state overwhelms the producers in society which causes those who contribute the wealth to ‘pull up stakes’ and
move elsewhere, which leaves the welfare scum to riot and want more free stuff.
I have two picks. The first one is NENG trading at 2.90 on 5/10/10. The business looks like it is doing well and take a look at earnings. The second pick is IVD trading at just 59 cents a share on the AMEX and looks like there is no debt. I like CHINA too and several others look interesting to me. Always do your own DD before buying or selling.
My pick is SECI the stock started moving mom. But I don’t know WHY?
Is this all? …I can only suppose by this pathetic showing of stock pickers this week that most, or many are disheartened by the past two weeks confusing up and down cycle of insane buying & selling and selling and buying in panic, which is the absolute normal cycle that is ‘par for the course’ in this insanity which is the stock market. …The entire concept is based in insanity and ‘I’ truly love the concept of chaos for making money at maximum gains in the future. …Hell, i always have. ..And actually have maximum gains to show for my effort! … Friday, May 14, 2010 only left me down $2,293. ,,,and some change. BUT! it is a small drop in the bucket compared to my upside from late 2008 and 2009, and even my 2010 stock buys so far. …..
This small cyclical market correction opens the door for opportunity to those who see the road ahead, and buy stocks in great companies cheap, which over the longterm historically outperforms any other longterm investment of any kind. ..Including gold. ….I own gold, but i dig and find my gold, and holding.
“Greece” …Why worry about this small player that so many are worried about and dragging the market down? …. ‘I’ Have a solution if they want to riot for more govt handouts. .. station all the navy aircraft carriers
from the european union, the U.K., ..ONE of our U.S. navy aircraft carriers, (one is all it takes) near by, then co-ordinate, and then ‘carpet bomb’ the entire area until the gene pool is cleaned up and the entire agean sea area decides to do business again.
ANTS Software[ANTS] Stock has gained over 300% in anticipation of major announcement in June of OEM partner.Rumors point to either Oracle or IBM.company goal is to be listed on NASDAQ.
A real oppertunity – NPDT Newport Digital Tachnologies
thanks for the tip!