LONDON, May 1, 2014 /PRNewswire/ --
Top Five Stocks Focus List: Avanir Pharmaceuticals, Inc. Ins
Pro Technologies Corp, Elite Pharmaceuticals, Inc. Nuvilex, Inc.
Tranzbyte Corporation
Although the volume remained light in trading to close the
markets yesterday there was positive news in the form of the Fed
reducing its bond buying stimulus on the back of a poor first
quarter's results. It goes to show the confidence the Fed
have in the current market as the major indexes all closed higher
for the day. All eyes will be on the upcoming earnings
quarter as we look to see if that confidence is backed up by
corporate America.
Avanir Pharmaceuticals (NASDAQ: AVNR) was the strongest upside
stock within the index to close trading yesterday up 48% on the day
with more than 10 million shares traded. Investors reacted
positively to news about an upcoming trial and the stock was
heavily traded throughout the day. With the 52 week high
within 20% of the closing price and the volume more than five times
the normal average it looks like there could be continued heavy
trading in today's session on the NASDAQ.
Ins Pro Technologies (OTCMKTS: ITCC) was certainly the most
talked about stock in the OTC markets as the daily trading range
was more than 500% in a stock that traded more than $2.4 million in a volatile day. The upside
was huge in the morning with shares opening around $0.06 and climbing to a high of $0.49. The afternoon session however did
bring some apparent profit taking in such a big move higher and Ins
Pro was trading around $0.15 by the
closing bell.
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Tranzbyte Corp (OTCMKTS: ERBB) traded more than 100 million
shares in an active day for the stock to close trading on
Wednesday. Tranzbyte closed just below the high of the day
and was higher by 8% on the trading day. Traders have flocked
to this name over the last couple of months with shares rising to a
yearly high of $0.216.
Currently just under $0.04 the
stock is looking to push through resistance to stand a chance of
moving back to higher ground.
Elite Pharmaceuticals (OTCMKTS: ELTP) was another double digit
gainer in Wednesdays trading with shares up over 14% and heavy
action trading in the stock. Shares were higher in the
morning session with a slight pullback in the afternoon. The
52 week high is within striking distance at $0.635 as traders continue to push this stock
higher.
Nuvilex (OTCMKTS: NVLX) was lower by just a couple of percentage
points in a lower than normal volume day for the stock that has an
average of around 12 million shares. Nuvilex is trading
around the midpoint of its yearly trading range and after sliding
around 20% over the last week it looks like shares could be at a
low entry point for a move higher.
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