INDOCAN RESOURSES, INC: IDCN comes in at # 1 this week. We have been saying all along that 2010 is the year of Commodities. With crude oil currently at $85 a barrel and headed towards $100, the commodity sector, which is the biggest on the OTC and OTCBB indexes will be rocking hard this year. 7 out of the 10 stocks on our list this week are commodity stocks. That should tell you something.
Indocan Resources has been on our focus list 5 out of the last 6 weeks. The stock has built a strong base around the .0014-.0015 area and closed above the critical .002 level for the week. We are anticipating IDCN to challenge the short-term highs that were made back in early March.
The key this week will be staying above .002. If we can see higher highs and higher lows and slowly walk up to the resistance level, this could build a nice launching pad for the next leg up.
HIDALGO MINING INTL: HMIT positive money flow is starting to come into the stock. A weekly close above the .0006 level, which is the 200 day moving average, should spark up some serious momentum. If we break through .0006 then you’re looking at the breakout above the psychological .001 area.
BRAZILIAN MINING INC: BRZM broke above its 200 day moving average last week and has been slowly moving up every day. The stock has built a nice base (consolidation) around the .024 area and poked its head above .025. This is a very low-risk trade. Strong support is at .022 and resistance is .035. A weekly close above .035 and we could see some serious momentum come into the stock.
POZEN INC: POZN The Stock Wizards are big fans of biotechnology and healthcare stocks. POZEN has a pain management drug called VIMOVO. This drug is being developed for the relief of the signs and symptoms associated with conditions such as osteoarthritis, rheumatoid arthritis and ankylosing spondylitis in patients who are at risk for developing NSAID-associated gastric ulcers. Interesting story. Pozen already has partnerships with Glaxo-Smithkline and Astra Zeneca, two very large pharmaceutical companies. The Stock Wizards is keeping a close eye on this one.glaxo smithkline, astra zeneca, gastric ulcers
SKYBRIDGE TECHNOLOGY GROUP INC: SKGO is coming off very oversold conditions with a nice technical double bottom in place short-term. You have solid support at .0015 with resistance around the 50 day moving average .0025. A weekly close above the 50 day moving average and we could see some real momentum start to come in. A Very popular stock with traders.
XENACARE HOLDINGS INC: XCHO announced on Friday, April 1st that their flagship product for pain called Cobroxin, has been selling very well. First-quarter sales were as follows: $895,487 for the 1st Quarter of 2010. That is an $837,263 increase over First Quarter 2009. “We are extremely pleased with our first quarter sales results, specifically the increased momentum in the roll out of Cobroxin,” explained Frank Rizzo, President and CEO of XenaCare.
Technically speaking, The Sock Wizards feels XCHO is very attractive and appears undervalued at these levels. Sales continue to ramp up on their flagship product Cobroxin. Trading with a Market Capitalization of approximately 21 million, you can clearly see how undervalued this company is. Support is .25 resistance .35 for the coming week. For more information on Cobroxin, a pain reliever that Big Pharma does not want the consumer to know about, go to http://cobroxin.com/.
SILVER DRAGON RES: SDRG with Silver starting to heat up , this stock is starting to look very attractive. Over the years SDRG has been a favorite stock among penny stock traders. When this stock gets on a run, it makes some really good moves. SDRG is currently 50% off its highs that it made last November. Currently trading right at its 50 day and 200 day moving averages, The Stock Wizards feels that there could be an explosive move in the cards very shortly. A weekly close above .30 should spark some momentum buying. We have support at .25. Very low-risk trade. Keep an eye on it.
SOLAR ENERGY INITIAT: SNRY here is another energy play that has a really nice looking chart, positive money flow coming in, and is in the right sector. A weekly close above .25 and we should see some real pickup in demand.
SAVOY ENERGY CORP: SNVP is flirting with a breakout above its 50 day moving average of .042. A weekly close above this level should see a real pickup in demand for the stock.
CORTEX PHARMACEUTICALS INC: CORX made our weekly top 10 last week. The stock had a nice four-day consolidation and looks like it’s ready to make another move higher. Short-term resistance is .30, a weekly close above this level should really start some serious momentum buying.