ETLS - Going To Take Another Shot at $.01?

ETLS, after undertaking an impressive rally earlier this month, has pulled back significantly from its brief high of $.011.  The stock at one point this week was trading under $.002 a share and has since started heading higher posting three straight days of gains.

 The compelling part about this stock is that it has a low outstanding and authorized share count, one which is 33% accounted for  via a recent SEC ownership document.  The rest of the shares have been under accumulation for the last 6 months plus.  The recent run has been done on less volume than before which tells me a lot of the shares are being held for another shot at the 52 week high.

A run and break of $.011 could send ETLS to $.02 a share or better.  Obviously with the stock at $.0033 those numbers are still far away, but I do believe those are realistic targets for this stock considering its past history and the investor interest behind this issue.

I also think the run won't be as violent as the last one, meaning a healthier rise.  This would equate to gains that don't vanish the next day as we saw when ETLS hit $.011 several weeks ago.

Keep this stock on your watch list going forward.