When you put together your penny stock list for April 2019, make sure to pay attention to penny stock charts. We’re taking a deeper look at three small cap stocks that could be ready for a higher move.
China Recycling Energy. (CREG)
China Recycling Energy Corporation (CREG Stock Chart) has been making several attempts at higher stock prices this year. The last big move for this penny stock was back in February when it hit highs of $1.47. On March 28 the company announced its intent to build an energy storage power station with total capacity of 50 MWH. Just to give you an idea of the scope of this, a rule of thumb is that 1 MWH can power 750 to 1000 homes depending on a number of factors (time of day, seasonality, etc.).
China Recycling is in the business of recycling energy in China. It designs, finances, constructs, operates, and transfers waste energy recycling projects to mid- to large-size enterprises involved in high energy-consuming businesses.
Shares of China Recylcling gapped up this morning to highs of $1.35 just as the news was released. They have since consolidated back toward the $1 level at lunch on March 28.
China Internet Nationwide Financial Services Inc. (CIFS)
China Internet Nationwide Financial (CIFS Stock Chart) is following the other China-based penny stocks with a strong day on March 28. In our opinion, as long as China trade talks are back in the news, China stocks will be on the list of penny stocks to watch heading into April. Technically speaking, China Internet Nationwide has broken above the trade line on its daily chart for the first time in a month. It also has a nice gap to fill compared to previous months of trading.
China Internet Nationwide Financial Services Inc. provides financial advisory services to small-to-medium sized enterprises in the People’s Republic of China. The cool part is that the company is already moving toward Big Data and Artifical Intelligence following an acquisition in 2017. With Fintech stocks getting attention lately, this could be another penny stock to watch in April 2019.
Fibrocell Science, Inc. (FCSC)
Following the last trial update, investors were not thrilled with Fibrocell (FCSC Stock Chart). But it would appear that the penny stock is having a strong day after completing a meeting with the FDA. The stock’s 200 day moving average is acting as resistance at 2.09 as of March 28.
“The FDA has provided us with invaluable advice on the design of the DEFI-RDEB trial, and we are grateful for their comprehensive feedback. RDEB remains an urgent unmet medical need, and we believe the initiation of a Phase 3 clinical trial of FCX-007 for this devastating disease is a significant milestone for both patients and Fibrocell. We are working diligently to incorporate the FDA’s comments into the IND, with the expectation of initiating the Phase 3 trial in the second quarter of 2019.”-John Maslowski, President and Chief Executive Officer of Fibrocell
Shares of Fibrocell are higher by more than 13% on Thursday March 28.