VRTC – Veritec, Inc.

Veritec, Inc. VRTC

We hope everyone enjoyed yesterday’s day off from the market, however you chose to spend it. Though today’s session is just a short 3 1/2 hours, we are ready to get back to business, starting with recognizing VRTC’s performance since we added it to our ticker watchlist.

It isnt every day that one of our new picks begins to put up good numbers immediately. Often times it can take days or even weeks for our picks to mature, but that was not the case with VRTC.

We waited until we felt conditions were just right before mentioning it for the first time Monday premarket, and it turned out to be a great decision. Since then the stock has enjoyed three straight days of increases. It has made higher highs and higher lows, closing at its high of day on each of those days for an overall gain of 37% We count that a superb performance for just a 72-hour period.

The stock is still receiving a ‘Buy’ Rating a BARCHART.COM, however the possibility exists that from here we could see a slight pullback before the stock continues its ascent. We did notice a little resistance at .40 that may need to be taken out before we can see extended gains. Such is to be expected following a nice run like what we have seen in the past three sessions.

When we reviewed the chart earlier in the week, we pointed to a MACD cross in the making, and it appears to just now be occurring. In many past plays, we have observed considerable gains following a MACD cross.

We are also still excited to see the outcome of the Partnership Agreement with National Identity Solutions (NIS).

Ronald Logan, CEO of NIS has stated, “The partnership with Veritec is estimated to bring in hundreds of millions of dollars to both Veritec and NIS in 2012 income streams.”

The following report could be a good way to begin your own due diligence if you are new to VRTC.—VRTC REPORT