Tranzbyte Corp ERBB
ERBB opened at .0048 on Monday, and ran to .0075, where it ran into a key level of resistance. Currently we have a golden cross formation setting up on the chart. This play will be on our watchlist for weeks to come. We are looking for when the 20DMA surpasses the 200DMA, and at the rate it’s been going, we could realistically see that occur within the next couple of weeks.
Yesterday’s volume of 42.5M shares traded represents nearly 7X the current average.
Barchart.com is currently listing ERBB as a 64% Overall Buy and placing the brunt of their confidence in the short-to-medium term.
Most of the medical marijuana plays that we’ve been monitoring with the exception of ERBB, were on downtrends yesterday.
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GreenGro Technologies, Inc. GRNH
GRNH was one of those med. marijuana stocks that experienced a pullback on Monday, no great shock, granted the recent huge runs we’ve been seeing. It did, however, end up maintaining the support level we had mentioned in the morning reports (.05-.06), closing the day out at six cents.
We need to see GRNH hold a minimum level of support anywhere from the 20DMA (.0322) to yesterday’s foothold at .0465. Moving forward, we are going to have to monitor all of these consolidating marijuana stocks for any bounce actions that may come to pass.
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Lumonall, Inc. LUNL
After appearing in our extended watchlists recently, LUNL earned a spot as one of our main focal points this morning, turning in back to back days of abnormally high volume.
On Friday, it traded over $23K in dollar volume, and yesterday, another $16K. With accumulation increases such as these, there often tends to be a corresponding increase in upward momentum, so we certainly want to watch for that.
The stock has enjoyed steadily rising closing prices for the past three consecutive trading days, so we are anxious to see if the recent awakening of the stock can continue to duplicate those results.
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IDGlobal Corp. IDGC
This is a high flying, big momentum mover that caught our attention yesterday when it ran from .0004 to as high as .0075. A surge like that is enough to get anyone’s attention, exploding for possible intraday gains of over 1700%
We most definitely want to put this stock on bounce-watch once the dust settles from this amazing run. One would expect to see significant consolidation after such a showing, and the resultant rebound could be impressive in and of itself. In the meantime, we’ll want to make certain that the current run is indeed at an end.
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Extended Watchlist:
MSLP, CGRA, TMKR, HZNP, GALE