By James E Brumley
Most stocks are still waffling, but a handful are actually geared up for strong moves.... some bullish, some bearish. Among the highest-potential charts we've run across today are Rentech, Inc. (AMEX:RTK), Discovery Laboratories, Inc. (NASDAQ:DSCO), and Generex Biotechnology Corporation (NASDAQ:GNBT). Here's a better look at each one.
Long story made short, I think Generex Biotechnology Corporation (NASDAQ:GNBT) is going to make good on the recent bullishness. We're seeing our second accumulation day today, and the effort was kicked off with a brief consolidation period.
The push-off point was support at $0.50, where Generex Biotechnology shares found a floor all throughout November (with one brief exception).
As for a target, that's tougher to pin-point. Generex Biotechnology Corporation shares were already in an uptrend. The September/October pullback was enough to reign in the euphoria, but not kill the overall bullishness. So, I suspect that GNBT is still on track to find whatever level it was headed for before. If I had to venture a guess, I'd say that's $1.00-ish.