LONDON, May 21, 2014 /PRNewswire/ --
It was a sea of red in OTC trading to close on Tuesday and ahead of the market open today we look at some of the stocks which managed to close higher yesterday on positive news and recently broken out of a downtrend to look like attractive positions going forward.
Jammin Java Corp (JAMN) is trading about as low as we have seen it recently after moving down from the $0.42 level last week and well below the 52 week high of $0.65. After focusing its attentions in the high end coffee market under the name 'Marley Coffee' the company updated shareholders on their earnings quarter this week and the plans for the company going forward. Shares closed lower by 7% going into trading today on over 1 million shares.
Well Power, Inc. (WPWR) was the big winner in OTC trading, and all eyes will be on this name today to see if it can hold the gains and move to a higher level. Well Power closed higher by 27.7% on over 2 million shares in an active day for the stock. After a strong move to the upside traders will be looking for shares to hold their gains and move to a new resistance level in trading today.
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Development Capital Group (DLPM) received much attention on the street as shares closed higher by 5.7% to close at $0.37. In a similar chart to many of the stocks we have looked at today it follows the trend of breaking out of a recent downtrend in the shares. Development Capital Group is looking to break through its resistance level at $0.42 to stand a chance of reaching $0.50 in the short term.
Affymax (AFFY) closed right on the resistance point of its trading chart going into the open of the markets today right at $0.70. Shares in Affymax having already bounced off the bottom of the chart in trading earlier in the week stand a good chance of trading back to the $1.00 range of we can see shares hold above the $0.70 mark through the remainder of the week.
Gray Fox Petroleum (GFOX) finished higher on the day by more than 12% in an active days trading for the stock. After hitting a yearly high back in February of above $2.50 per share it's fair to say Gray Fox has been in a downtrend, however that could be about to change as the stock recently bounced off the bottom of the trading chart and broke through resistance to close above $0.80 going into the open this morning.
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