Penny Stocks on the Move on June 18: BIZM, PSON, TALK, IWSY, NORX
Biozoom, Inc. (BIZM) – Today BIZM, which is presently one of the most active penny stocks, continues its spectacular upward march as it is currently trading 7% higher at $3.96 per share on a volume of 2.7 million, which is three times higher than the monthly average. After the last trading session, in which BIZM surged 15.6% to $3.7 per share, the company’s market valuation bulged to a whopping $221 million.
Yesterday, the company announced that university researchers were going to use Biozoom scanner to investigate the relationship between stress and work. In the next couple of hours, market speculators will most likely keep their gazes fixed on BIZM sotkc chart as it is nearing the $4.00 mark, which is an important technical and psychological level.
Petrosonic Energy, Inc. (PSON) – PSON is one of the top market movers on the OTCQB Market today. The company has already generated a trade value of $1.2 million since the start of the trading session. However, PSON stock is currently trading 6.8% lower at $1.24 per share on above average volume of 984 thousand. PSON gave a short positive note at the beginning of the session as it opened with a gap up at $1.35 but after 10:00am the value of the stock declined sharply.
Given the lack of news and promotions on the company, the current move of the stock seems like a natural bounce off from the established resistance. The stock is also close to its previous 52-week high at $1.40 per share, which was registered in April this year. If PSON has entered a correction phase, market speculators can watch the movement of the 50-MA as it has been acting as support for the stock for the last couple of months.
iTalk Inc. (TALK) – TALK stock is registering a rather volatile intraday session today as the stock has been moving sharply above and below its previous close. Currently, shares of TALK stock are trading 0.55% higher at $0.92 per share on a slightly lower than average volume of 1.2 million.
Yesterday, TALK surged 15% after it got promoted for a compensation of $40,000. Today, buyers and sellers are fighting for dominance over the stock. In the first trading hour, TALK stock was influenced by a positive mood as it opened with a gap up at $0.92 and then surged to an intraday high at $0. 97 per share. In the last trading hour, however, a bearish mood took over the stock and it slipped below the previous close reaching an intraday low at $0.87 per share.
At present, the forces of buyers and sellers are balanced as the stock is trading near its previous close, and meanwhile the trade value generated by TALK has reached $1.2 million.
ImageWare Systems, Inc. (IWSY) – IWSY is tumbling down today as its share value has declined 11.3% to $2.04 per share on a volume of 518 thousand shares, which is two times higher than the monthly average. Apparently, IWSY has switched into a correction phase after hitting a 52-week high at $2.30 per share yesterday.
As the 50 and 100-MA are currently lagging below the stock, the next important technical levels are at $1.6 and $1.4, which are the borders of a channel where the stock was consolidating last month before the break-out in mid-June.
Today, a Form 4 was filed showing that one of the company’s beneficial owners, Gruber & McBaine Capital Management LLC have sold 573,912 TALK shares since last Thursday. Several days earlier, the same insider had also dumped another 212,000 TALK shares.
Norstra Energy, Inc. (NORX) – NORX stock is trading 4.29% higher at $0.73 per share on above average volume of 1.8 million. The trade value achieved so far by NORX is $1.4 million, making it one of the most heavily traded penny stocks today.
NORX is a freshly crashed stock, following a pump which brought the stock value up to $2.0 per share in the beginning of June. The highest surge of the stock took place after it announced a reserve estimate report on its South Sun River Bakken Project in Monatana. The stock surged sharply after the news but in the following days NORX stock was afflicted by an immense selling pressure, which brought the stock down to its previous support at $0.65.
In the last couple of days NORX has been rallying and is currently positioned just at its 50-MA. Thus, any significant movement by the stock at this key technical point will give market speculators a signal for the short-term destination of NORX stock.