Double Digits Best Percentage Performers Penny Stocks
NeoMedia Technologies, Inc. (OTC:NEOM) penny stock heavily gained 67.51 percent to close at $0.033 with traded volume of 248.22 million shares as compared to its average traded volume of 35.72 million shares per day. The company’s total outstanding common stock accumulates up to 437.38 million shares out of which only 420.54 million shares are floated in the stock market.
The penny stock share price has moved to its extreme overbought level as per its relative strength index of 74.7 times. Comparison of moving averages also depicts major upward change in the share price as the short term moving average cuts the long term moving average in upward direction. Likewise MACD Moving Average Convergence Divergence also signals a strong bullish rally as the MACD line and trigger line are in the positive zone. Moreover the MACD line sharply moves above the trigger line indicating major upward change.
Looking at its price history the penny stock share price traded between the prices ranges of $0.01 to $0.23 in last one year. This can be derived that the share (penny stock) price is likely to find support at $0.01 while resistance could be seen at $0.23 level.
VELATEL GLOBAL COMMUNS (PINK:VELA) penny stock went up 57.89 percent to close at $0.03 with traded volume of 13.29 million shares as compared to its average traded volume of 5.01 million shares per day. The company’s total outstanding common stock accumulates up to 635.83 million shares out of which only 430.82 million shares are floated in the stock market.
The company touched the day high of $0.030 and low of $0.019. VELATEL GLOBAL COMMUNS’s total market capitalization arrived at $11.74 million.
The penny stock share price happens to be highly volatile and is negatively correlated with market index as per its beta value of -6.10 times. This means that the stock is likely to react by -6.10 times against one point change in market index and will be moving in opposite direction of market index. Stocks with negative correlation have a high significance in hedging strategies.
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