Penny Stocks on the Move: Complete Genomics (GNOM)

If you woke up on Monday and decided it was time to buy shares in the penny stock of Complete Genomics Inc. (Nasdaq: GNOM), you made a smart move.  GNOM stock, like many other biotech shares in recent trading sessions, jumped 0.49 cents during the trading session and an additional .07 cents in after hours trading to $2.40. GNOM stock gained a total of 30.43% for Thursday, 52.87% since its Monday low of $1.57.

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GNOM Stock Chart:

Market Cap: 78.95M

52-Week High
(Jun 6, 2011): 18.55
52-Week Low
(May 21, 2012): 1.57
50-Day Moving Avg: 2.44
200-Day Moving Avg: 3.15

Avg Vol (3 month): 1,057,850
Avg Vol (10 day): 559,550
Shares Outstanding: 33.88M
Float: 10.35M
% Held by Insiders: 5.91%
% Held by Institutions: 52.20%
Shares Short
(as of Apr 30, 2012): 1.77M

GNOM had volume of roughly 8.2 million on Thursday, more than 7X the 3 month average. GNOM stock will open Friday around -4.42% below its 50 day moving average, -26.02% below its 200 Day moving average, and -87.44% beow its 52 week high of $18.55. It’s a long way from $18.55, but if it was to regain that level, investors in the penny stock could be looking at more than 672% gains.

GNOM will be testing three levels in the coming sessions. First it must take out its 50 Day moving average of $2.44 which it should do early Friday unless there is a pullback in the stock. After that, GNOM will have a breakthrough trade once it surpasses the first resistance level at $2.65 and then the second at $2.98 with volume near Thursday’s levels.

About Complete Genomics Inc.

Complete Genomics, Inc. is a life sciences company that has developed and commercialized a DNA sequencing platform for whole human genome sequencing and analysis. The Company’s Complete Genomics Analysis Platform combines its proprietary human sequencing technology with its advanced informatics and data management software and its end-to-end outsourced service model to provide customers with data that is immediately ready to be used for genome-based research.

To view the SEC filings for Complete Genomics, click here.

Bottom Line: The penny stock of Complete Genomics, GNOM, is reacting to the momentum in the biotech sector at present. ROSG, GENE and VRML are all on the same bus which is driving the price of GNOM off its recent 52 week low. Monitor the trading volume, as well as the bid/ask since a pullback before the 3-day weekend could open up an entry level if your long and patient.

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