Imperial Resources Inc. (OTC:IPRC), El Capitan Precious Metals, Inc. (OTC:ECPN), Emisphere Technologies, Inc. (OTC:EMIS), and Lone Star Gold, Inc. (OTC:LSTG) are today’s top penny stocks as of mid-day, based on a combination of progress and the volume supporting those gains. This bullishness is worth a closer look simply because there may be more of it in the cards.
Imperial Resources Inc. may have had a rough go of it last week, but in retrospect we can see that may have been more market-related, and more oil-market-related to be specific. IPRC has been on a tear this week, making good on a reversal clue that materialized on Tuesday. The buying volume since then has been getting better, even if it’s a modest improvement so far.
As solid as the movement is here, the fireworks for IPRC will really begin when it starts to retest – and hurdle – the resistance level at $0.42 (orange). At that point it will have already cleared most of its key short-term moving average line, and anything above $0.42 will push Imperial Resources out of a long consolidation phase.
At first glance, El Capitan Precious Metals, Inc. doesn’t look like it should qulaifty to be on a lost of today’s top penny stocks. The gain is a mere 1.0%, and the volume 87,000 shares doesn’t even come close to rivaling yesterday’s 365,000. What you need to understand is that ECPN is on this list based on the comparison to where it was (volume and price-wise) at this point in time yesterday. In fact, that’s the case for all the names under review here.
Even then it’s admittedly not the best looking of charts. However, the attraction to ECPN here is rooted more in the fact that it’s been beaten down so badly and is ripe for a rebound. If you look closely, El Capitan Precious Metals has found support at $0.45 and $0.48, and the last leg of the selloff was on very tepid volume. With the bears fading, today’s intraday strength and volume is the bulls testing the waters.
Lone Star Gold, Inc. has been nothing short of amazing, in persistence as well as performance. One of theheadaches with LSTG has been its ability to make very big but rapid runups (a great problem to have if you’ve gotta’ have ‘em), which tend to invite a little profit taking. In the grand scheme of things though, longer-term holders have been just as rewards for their patience. And given the shape of the charts and the way volume is appearing, this should be the case for a while.
We specifically pointed out the positive impact the tall reversal bar from last week would have on LSTG back on the 26th; the floor at $1.00 was a factor too. Sure enough, this junior gold miner’s penny stock rallied hard out of that setup, on very good volume. Yes, despite the fact that it’s one of today’s big winners, it still looks tired. All things considered though, this is apt to be just another rest stop Lone Star Gold within a bigger uptrend.
Finally, Emisphere Technologies, Inc. looks more like what you’d think of when talking about top penny stocks. It’s up 2.1% today, and up 123% for the month. Moreover, this meteoric rally from EMIS has been made on higher and higher volume.
The $64,000 question is, can this strength really persist? EMIS is already overextended by most anyone’s standards. Between that and the fact that it left behind a gap on Tuesday (not to mention the fact that the buying volume has been fading for a couple of fays now), this one may be less qualified to make this list than ECPN is. Nevertheless, if it technically qualifies, we still want to mention Emisphere Technologies