Here's a closer look at the incredible trading activity for the two stocks we issued alerts on this week: Power3 Medical (OTC:PWRM) and Viking Systems (OTC:VKNG). Are the runs up done or is the table set for yet another push upwards?
Let's start with PWRM. The trading on this stock was just incredible the last two days. We issued an alert to our subscribers on Tuesday, and the stock ran from $.08 to $.13 on a volume of over 21 million shares. On that first day, the stock experienced a 70% bump in price with very little sell-off.
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Yesterday, when the report was issued an released to the general public, PWRM CEO, Helen Park told BioMedReports that: "Power3 Medical Products had completed the Phase I Clinical Trials for Alzheimer's and Parkinson's diseases blood diagnostic tests with better than expected results and launched the Phase II clinical trials for both of these diseases." Furthermore, she said that the company now has a pending news item in that, "Our Chief Scientific Officer, Dr. Ira Goldknopf, is reporting new information on these results at the BIT meeting in China this week."
Those results will be announced on Friday in China at BIT's 2nd Annual Congress and Expo of Molecular Diagnostics (see scheduled evet below), so with that in mind, we fully expect the stock to continue to run up some more on Thursday in anticipation of postive information and data from China on Friday. We may not even see a news release from the company until Monday.
Given Wednesday's incredible excitement about PWRM and record trading volume (38.5 million shares!), we may be seeing what we predicted starting to take place-- in this case, we're looking at a Break Away Gap scenario (see the definition with a chart here).
Again, as we covered in our special report about the company, Power3 is at a critical point in their growth and more people are starting to take notice of the company (many trader forums and boards are buzzing about the stock and our report), so this price action and the incredible volume coming in is being fueled by speculators who realize that the company's impressive early detection technologies are likely undervaled and this has the potential to become a great stock to be in long term. We even got two calls from investment bankers wondering if we knew whether the company needed additional funding for their programs. We refered them to the company directly.
As you can see in the chart below, we've highlighted the last two incredible days of trading action and the set-up continues to look terrific. There was finally some profit taking, but not a great deal of it. The stock consolidated very nicely after the huge gap up and all of those behaviors are very healthy and look even more bullish when you consider what kind of day the over all markets experienced.
Again, we do not run pump and dump schemes. We simply give you our take on news, trends and analysis while sharing our insight into one of the most promising, yet challenging sectors in the market- and particularly into stocks that may become great investments at best and terrific trades at worst. We'll let our record speak for itself.
Now let's move on to VKNG. This was our alert on Monday, that ran up strong for two solid days, then sold off a bit yesterday. Investors seem genuinely excited about the company's products and we may also be hearing some news as Viking and Sony are currently doing a demonstration at MEDICA, the world's largest medical device trade show, in Dusseldorf, Germany. The show kicked off yesterday and organizers were expecting close to 140,000 trade visitors.
As we told you in our special report, an even more intriguing news development is occuring later this month. It involves the delivery of a "designed to specification" prototype high definition 3DHD visualization system by Viking Systems to "a manufacturer of surgical robotic systems as part of a development agreement." While the name of that manufacturer has not been disclosed by Viking, our research leads us to believe that entity is Sunnyvale, California based Intuitive Surgical- the same company that manufactures the da Vinci Robotic Surgical System.
Here is the chart for that stock as of the end of trading on Wednesday. Again, a very healthy consolidation and good looking support for the market.
Special thanks to Matt from Live2TradeWizely.com for his help on the technical analysis and chart mark-ups!
Disclosure: Long PWRM and VKNG
