for Nov 29th: Microcaps
dominated the breakout scan for Monday - a typical picture
at the end stages of rallies. Two of the better microcaps
are featured here. The first pick, SIM,
gained on strength in steel sector stocks, but there was no
company specific news to account for the breakout. Technicals
are well positioned for further gains, notably - a breakout
in on-balance-volume and a bullish crossover in the MACD.
Slow stochastics have just crossed the bullish mid-line, suggesting
the current breakout will continue up for a few more days
before pulling back. The second pick, HDVY,
is one of two microcaps featured today. The company on Tuesday
filed a patent for
the diagnosis and treatment of prostrate disease. This helped
boost the stock past $0.35 resistance. The weekly chart shows
a healthy base developing, with a projected target of $0.78.
Point-n-figure charts show long term resistance at $1.00,
so the current move is unlikely to break this level. The stock
has excellent technical strength, the MACD having breached
resistance for a second time for the month of November. Slow
stochastics still have room for gain. The third pick, SWME,
is the second of the microcaps. The company has slowly improving fundamentals,
and announced the retention of
its spokesperson for its pain
therapy product. The stock has traded increased volume on rising prices, supported
by strength in its technicals. The MACD trigger line crossed
over above the bullish mid-line, while on-balance-volume has
continued to soar. Slow stochastics regained overbought levels.
The price target is based on a test of its 52-week high, a
breach of which sets a follow on target of $0.68.
refers to Investors Business Daily
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