Monday, March 12, 2012

THQI - Going Back Over a Buck?

Today's chart after the close.  THQI had a great day, closing off its highs but still showing great signs about a possible reversal.

This is what I wrote to my subscribers this weekend, the stock was at $.52 heading into today's trading session:

This is my next FFN type stock. Highly liquid and trading just above all time lows. The stock has over 20% of its tradeable shares in the hands of short seller. You can call this my next alert. It's not going to be a quick 50 - 100%, but I think ultimately that is what its going to do and possibly more.

For those of you not able to day trade, or who are willing to sit on a stock for a while I think this is a great penny stock. Formerly $6 stock a little over a year ago. Company currently has $.70 a share in cash on hand. Video gaming industry is the place to be and the company has reduced costs the last few years.

Overall I think the stock is poised to rally from current levels. 

The stock sits right near its 50DMA of $.65.  A break of that would make things very interesting as we have the 200 DMA at $1.87.  I feel rather confident about a run to $1 or better.  Need to see the buying volume continue and pick up more momentum.

1 comment:

Stock Price said...

Rising share prices, for instance, tend to be associated with increased business investment and vice versa. Share prices also affect the wealth of households and their consumption.Level 2 Market Data