Tuesday, February 05, 2008

Advanced Battery (GBT)

Advanced Battery (GBT) has traded itself into a tight range, bound by its 200-day MA and 20-day/50-day MAs. The suggested play is to buy a break of the latter averages (c$4.33) with a stop on a break of its 200-day MA ($4.02). Technicals have flattened and don't give an immediate 'tell' as to which way the stock will go, but this flattening also precedes sharp moves. A break of the 200-day MA could see a retest of November lows at $3.26 (an alternative short play?). The most recent news was the $23m contract to make electric batteries for bicycles and motorcycles which saw the stock jump to $4.65; so if you like that news you should like it more here! If anyone is willing to trade these picks (and others) in the Stock Exchange game (linked below the chart) let me know. I will give such participants free membership to this site on the condition they trade only the stocks I provide.

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