LGBS, MTG, FONR & Extended Watchlist

Legends Business Group, Inc. LGBS

We like the chart on LGBS, another new play that stood out to us today as a good chart-play. The RSI has been holding firm having recently bounced off of the 50-line and getting ready to pass the 50MA overlay. There has been a solid level of support in the .0028 (100DMA) range, The histogram recently flipped up to the bullish side, and the PPO had a bullish crossover. We want to keep an eye on this play this week, as chart conditions are looking pretty ripe.


MGIC Investment Corp.  MTG

This morning we caught MTG on our scanner, as it is trading up 20% pre-market. Taking a look at the chart, there is a large gap to fill from the beginning of August, when the stock fell from the 2.50 range, on down to .66. Considering the fact that the stock is, today, gapping up past September’s resistance, there is a fair possibility that we could see MTG continue to rally to the two dollar range, where it could fill its gap.

We’ve pointed out the gap on the chart below for your convenience. 


Fonar Corp. FONR

Also gapping up this morning is FONR, a stock that made a big run earlier this year, trading as low as 1.81 in March, and rocketing to a high of 6.80 in April. The company released some really encouraging news this morning regarding some extremely heightened financials. We want to keep an eye on FONR moving forward as we see how this promising news affects the current momentum.

MELVILLE, NY, Oct 01, 2012 (MARKETWIRE via COMTEX) — FONAR Corporation (NASDAQ: FONR), The Inventor of MR Scanning(TM), reported today its year-end financial results for the year-ended June 30, 2012. The Company has now had nine straight quarters of profitability. For the 2012 fiscal year as compared to the 2011 fiscal year, the Company made improvements in revenues and profit across both of its operating segments, those being the UPRIGHT(R) MRI segment that includes product sales, service and repair fees, and HMCA, its STAND-UP(R) MRI center management subsidiary. All of these utilize the FONAR UPRIGHT(R) Multi-Position(TM) MRI which is also known as the STAND-UP(R) MRI. >>FULL STORY

Extended Watchlist: