RIMM, BAC, JAMN, MS, LEXG
Here is a list of penny stocks to help you in Tuesday’s trading session. They range from large caps to penny stocks and are listed below:
Research in Motion (RIMM:NASDAQ) Despite today’s nice rally, shares of RIMM were down a little less than 2 percent. Last week it looked like there was a chance for a bounce, especially with a gap to fill on the upside. However, it seems like the numerous downgrades on the stock are giving shorts the guts to short on strength.
Bank of America (BAC:NYSE) Nice day for the beaten down bank today and a break of $10.94 could cause a mini breakout. But there are still several pockets of resistance to fight through at higher prices. BAC may not be a bad idea at these levels for long term holders, but it’s not much more than a scalp for short term traders.
Jammin Java (JAMN:OB) Shares of this once super hot penny stock are finally starting to look broken. Not too long ago, we mentioned the $1.40 level as a key support level. JAMN fell a little short of testing the psyche level of $1 today, but there is always tomorrow. Either way add JAMN to your penny stock list.
Morgan Stanley (MS:NYSE) If you are a short term trader, shares of MS gave you two chances to buy at or near the key $22 level. Many of the talking heads feel the brokerage firms have less exposure to the European crisis than their commercial, money center counterparts. The $23 level will be a nice battleground, and could cause a little bit of a tug of war between longs and shorts.
Lithium Exploration Group (LEXG:OB) Shares of this former massive winner are in a downtrend on lighter volume. We have mentioned LEXG before in prior entries, and it was an excellent trading vehicle at one time. At this point it seems that the naked shorts were right, and there is a key level of $1.30 below that may need to be retested.
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