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.