Penny Stocks on the Move on June 19: BIZM, PSON, NORX, OCTX, TQLA
Biozoom, Inc. (BIZM) – By the looks of it, it is correction time for BIZM stock, given that the current buying pressure continues throughout the rest of the session. BIZM started today’s session positively as it gaped up at $4.36 per share. A couple of minutes later though, the stock sharply slipped down to $3.84 per share.
Currently BIZM is trading 6% lower at $4.03 on a volume of 5.1 million, while the trade value has reached $21 million. Today, BIZM issued a press release with no significant value for traders, which is why they might have decided it was time to take back some profits.
Petrosonic Energy, Inc. (PSON) – Shares of PSON stock are trading sharply down today. After losing 22% of it share value on the last trading session, today PSON is trading further 21% down at $0.805 per share on a volume of 2.9 million.
Today, PSON made an important technical move as it crossed both below its support line and below the 50-MA. Apparently, this has disturbed penny stock traders who hold long positions in this stock, which resulted in a sharp sell out that brought PSON stock down to an intraday low at $0.65 per share.
At the moment, PSON has found support close to its 200-MA and given the significant volatility demonstrated by the stock in the last couple of days, it will be difficult for market players to make viable forecasts about PSON’s next move.
Norstra Energy, Inc. (NORX) – The rally of NORX stock continues today, as shares of the company’s common stock are trading 7% higher at $0.838 on a volume of 1.4 million. The stock gave a bullish signal yesterday after it managed to close the session above its 50-MA and today NORX consolidated this position during the first hours of trading.
The rally of NORX started this week after the company announced it expected that the permit to drill on the new location of the first well was going to be issued in early July. Penny stock traders should not that NORX has just fallen sharply from its 52-week high and is currently valued at $29 million.
Octagon 88 Resources Inc. (OCTX) – Shares of OCTX are trading 5.66% lower at $5.00 per share on a below average volume of 110 thousand. The stock has been going down since mid-May this year on the background of no news updates coming from the company.
OCTX is a company holding light and conventional heavy oil assets in Northern Alberta. It has a market cap of $140 million and as of May 20, 2013, it had 26 million shares issued and outstanding.
Montalvo Spirits, Inc. (TQLA) – TQLA is also one of the market movers on the OTC markets today. Its stock is currently trading 4% higher at $0.94 per share on a higher than average volume of 523 thousand.
The bullish move of TQLA today is supported by a press release issued vie Globe NewsWire a couple of hours ago. The release announced that that TQLA continued to meet its expansion plans having recently secured distribution in the states of Connecticut and Oregon.
TQLA is a company created to develop, market and distribute a portfolio of premium alcoholic beverages. It has a 52-week range of 0.95-0.74 and is currently valued at $60 million.