December 02, 2010

Pharmasphere parent

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Nov 29, 2010 (SmarTrend(R) Spotlight via COMTEX) -- Converted Organics (NASDAQ:COIN) is one of today's worst performing penny stocks, down 3.2% to $0.33 on 0.4x average daily volume. Approximately 602,000 shares have traded hands today vs. 30-day average volume of 1.7 million shares.

High volume often signals a change in trends. Shares of Converted Organics are currently trading below their 50-day moving average (MA) of $0.45 and below their 200-day MA of $0.71.   SmarTrend scans for speculative penny stocks under $1 for reversals in trends. A large price movement may signal continuation or reversal of a trend.

Converted Organics is in SmarTrend's Agricultural Chemicals industry and this industry is currently in an Uptrend. An industry trend that matches the stock's trend helps to add conviction to the stock's Downtrend and price prediction.    SmarTrend currently has shares of Converted Organics in an Downtrend and issued the Downtrend alert on November 11, 2010 at $0.41. The stock has fallen 17.1% since the Downtrend alert was issued.


Bill Randell said...

right now trading at .327 cents per share

Nick said...

I'd actually love to see pot grown here in lieu of some pharmaceutically useful herb (more security jobs created, no doubt), but these guys look like bozos connected to string pullers, and the city's looking played yet again.

Any chance the abutter's still interested?

Jahn said...

Nick I have wildly speculated for over a year now that McGovern has his hands in this. Once again, merely a SWAG and 100% speculation. So that means, if true, that Barack Obrien also would know also know what going on