HRBN - I like the test of 50 dma at low $16's. Every time it goes down to test that level, nice bids show up to support the price, showing continuous accumulation.
Check out the following chart:
This is an important support line to hold and I believe it will hold. Watch for MACD crossover. If the market bounces from here (and I strongly believe it will), we should see a nice run developing soon.
Another factor that may impact the share price of HRBN is upcoming details on the acquisition, which are supposed to be announced by the end of the month. Many are on the sidelines, waiting to hear these details to know exactly what financing options the company has planned for the acquisition. Watch for the news in the next 10 days, in my opinion.
AAAC.OB is no longer AAAC.OB, but not yet on Nasdaq. The ticker has been changed to reflect the new company, but the stock so far remains on OTCBB. The new symbol is TXICF.OB (warrants - TXIWF.OB and units - TXIUF.OB). This is normal practice. One quick example - YTEC. This company used to be a blank check acquisition company - China Unistone Acquisition Inc. traded on OTCBB as CUAQ.OB. Once the merger happened, it changed the ticker to YCHTF.OB some time later. Then, a little later after that, the company was transferred on Nasdaq with the symbol of YTEC. Nasdaq is more strict to SPACs now, so it seems some additional requirements are delaying the process. The stock is holding up nicely with continuous bid support. No worries there. On another note, remember CSCA.OB (now APWR). The stock has been unstoppable all the way from $7's to $30+.
Remember who the top holder is? Jeff Feinberg with his fund. Food for thought - He owned over 40% of original CSCA.OB shares, and he also owns 24% of original AAAC.OB shares.
Again - no worries there.
BSIC.OB - Slowly, but surely, gaining the momentum and interest. Reached $2.94 high today before retracing on good volume. Earnings run started, as they are expected within next 10 days. Great company and great long term, if the oil prices stay above $100. They recently reported that all 32 wells are now operational, and they are very excited about the current production levels.
AFAM - announced the biggest acquisition to date:
Almost Family signs definitive agreement to acquire Patient Care; expected to contribute significantly to earnings in '08 but is expected to be accretive to EPS in '09
Also, as pointed out by one of the readers "the divot", a great article came out about this company:
http://www.smallcapinvestor.com/articles/06132008-almost_family_home_healthcare_firm_makes_itself_at_home
This article came out before the acquisition announcement, and here is one paragraph from there:
"Avondale Partners raised its earnings estimate for 2008 as a whole to $1.48 from $1.27 and for 2009 to $1.60 from $1.34, not taking into account any new acquisitions, which the analysts consider likely. "
Once again, just a great long term hold.
CNEH.OB - continues to trade in the range. $3.73-$3.75 is the level to watch for a break to the downside, $4.50 is the level to watch for the break to the upside. Other than that, the stock will probably get a lot of attention when Q2 numbers are released, but there is still plenty of time until then. There are also a few upcoming road shows.
TVOC.OB - saw a little bit of movement today. 5k+ volume is better than 0 for this stock :). No worries here. Downside is limited, upside could be great. I like risk/reward ratio here. Again, the earnings are in August.
I will have a few new stocks to watch, as I finish my DD on them hopefully in the next few days.
One that I don't really consider undiscovered, but just a potentially great company is HEK - Heckmann corporation, which is another SPAC with a great management, acquiring China Water and Drinks company. This is a good article to read about the deal:
http://www.forbes.com/2008/05/21/china-water-heckmann-markets-equity-cx_mp_0520markets30.html
Good luck!
2 comments:
I noticed your very bullish sentiment with TXICF(AAAC). However, will oil prices hovering at the $140 mark and potentially going higher, isn't TXICF an unfavorable stock to own in these times? After all, they make auto body components and the demand for automobiles has already started a strong decline here in the US with automakers now offering major incentives to move them. Won't this have a ripple effect with other countries like China and in essence severly impact a company like TXICF?
Thanks for the comment. Here is an interesting article on Chinese Auto Parts Companies (also mentions Tongxin).
http://biz.yahoo.com/twst/080612/zgj802.html?.v=1
I agree there may be some effect to the demand, but I don't believe it's going to be as significant in China. China economy is booming, and I highly doubt it will slow down much.
Besides, I'm looking at this stock in terms of how undervalued it is - current PE and anticipated growth, plus hopefully Nasdaq effect.
My 12-month target on it all alone was $12-$13, which is a nice jump for the warrants, that can go from $2 to $7-8. Anything extra will be just a bonus.
I will reevaluate once we get there.
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