Though it’s technically off our watchlist, we’ve still been unofficially following the continued progress of penny stock Applied DNA (APDN). Today we’re able to offer an updated overview of the company, where it is, and where it’s going. (It’s a Crystal Research Report, which as many of you know means it’s a very thorough and very fair look.)

The link is below, but first we wanted to chime in briefly about APDN’s chart.

Applied DNA fostered a wave of major progress early in the year, fanning the buying flames and pushing the stock all the way up to a high of $0.21 by early June. The ebb and flow pattern stopped then; shares moved back to the 10 cent area and simply traveled sideways for a couple of weeks. Over the last five days though, APDN has started to move again.

In other words, this penny stock is back in play.

I don’t think the prior trend lines (marked on the chart) are going to be a factor going forward, as that pattern was broken in June. Rather, we’ll just have to monitor the news and watch the chart one day at a time to find the turning points. As they become relevant, I’ll try and post more trading thoughts on APDN here.

In the meantime, the link to the Crystal Research report on Applied DNA can be found at the company’s website. Just click here to access the PDF.

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