FreeSeas, Inc. FREE
We mentioned FREE in yesterday’s morning report as a bottom-play that was gaining momentum. The stock had begun to show signs of life after recently establishing a new 52-week low, and our focus paid off almost instantly.
We witnessed a slight dip to a low of .1113 shortly before 10AM, after which time FREE proceeded to surge its way to a daily high of .179. It registered as a 61% intraday swing before the stock tapered back to close at .091.
We’ll continue to observe the activity on the FREE chart as the week progresses, as there is a fair chance that we will continue to see sizable swings in PPS.
Axion Power International, Inc. AXPW
Speaking of major runners, the call we made on AXPW on Monday continued to extend its gains early in yesterday’s session. We caught this gem at a low of .0421, and watched as it went on to touch .36 before it began its pullback.
The move extended the total range we witnessed over just a two-session span to a whopping 755%
For us to remain interested in AXPW for further opportunities, we’ll need to see it maintain support at or above yesterday’s swing low of .14. Key resistance is sitting between .18-19.
Fresh News Plays
Synergy Pharmaceutical, Inc. SGYP came with some positive news this morning, and is gapping up heavily in the premarket. We’ll look for a potential dip-and-rip scenario to occur following the opening bell.
- Synergy Pharmaceuticals Announces Positive Results in the First Phase 3 Trial of Plecanatide in Patients with Chronic Idiopathic Constipation (CIC) (Wed 6:00AM EDT)
Blue Shere Corp. BLSP announced a tentative share buyback program this morning that would allow for the company to acquire up to $500K-worth of its common stock from the open market and/or via privately arranged transactions. Couple that with a chart that has the look of a classic bottom-play, and we’re very interested to include BLSP on our watchlist this midweek.
- Blue Sphere Corp. Announces a Share Repurchase Program (Wed 8:30AM EDT)
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