In January when we first covered the penny stock of GelTech Solutions, Inc. (OTC: GLTC), it was cold outside and the shares were only 0.60 cents. Within 10 days, the penny stock ran to $1.34 giving any traders that bought GLTC on our review a 123% gain. It could be another beginning to another run after GelTech Solutions, creators of Soil2O Dust Control and Soil2O, announced the receipt of orders from HD Supply White Cap Construction Supply, the nation’s largest supplier of tools and specialty supplies to professional contractors with over 200 locations in the U. S.
GLTC stock is up 71.67% since our alert and currently priced at 1.43% above the 50 day moving average, 23.52% above the 200 day moving average, -53.02% below the 52 week high of $2.15, and 152.50% abve the 52 week low of $0.40.
Looking for Hot Penny Stocks? Click here and get Alerts on the Best Penny Stocks FREE.
GLTC Stock Chart
Market Cap: 24.37M
Price/Sales (ttm): 63.91
(Jun 10, 2011): 2.15
(Jan 9, 2012): 0.40
50-Day Moving Avg: 1.00
200-Day Moving Avg: 0.82
Avg Vol (3 month): 26,253
Avg Vol (10 day): 33,560
Shares Outstanding: 24.13M
% Held by Insiders: 30.02%
GLTC came close to testing its 1st resistance point at 1.1067. Should GLTC be able to test this point with volume greater than 70,000, the 2nd resistance point at 1.2033 can be tested and a clear indication that the stock is in another bull rally, the 3rd of this year. Should the stock fall further from its current level, the 1st support level is all the way down at 0.8567 making a pull back in the PPS a risky venture.
About HD Supply White Cap Construction Supply
HD White Cap is the nation’s leading distributor of specialty hardware, tools and materials for large and medium-sized contractors with over 200 locations in the U.S. Their extensive inventory, combined with will call, site delivery and direct ship options, enable them to deliver the products customers need when and where they need them.
About GelTech Solutions, Inc.
GelTech Solutions creates innovative, Earth-friendly, cost-effective products that help industry, agriculture, and the general public achieve environmental and safety goals such as water conservation and protecting lives, homes and property from fires.
FireIce is a patent pending fire suppressant used for direct attack of fires as well as a medium term retardant for structure protection. FireIce can be used in all types of apparatus; fire extinguishers, pumper trucks, aerial units for wildfires and home defense units for personal home protection.
GelTech also markets Soil2O which is both a non-toxic soil conditioner and a dust abatement product. Soil2O “Dust Control” products and solutions stop all types of particulate matter from entering the air and water, solving even the most stubborn dust control problems. Soil2O Granular and Topical blends reduce water consumption up to 50% and promote healthy root development in plants and lawns, generating faster seed germination by keeping nutrients and moisture at the root level longer.
Bottom Line: GLTC was added to the list of penny stocks to watch way back in January and has held its gains, up nearly 72% since our alert. Unfortunately, real companies with real products and such a low share float don’t possess the volatility that other penny stocks do which makes investing in GLTC a long-term position.
Here is your opportunity to subscribe to the most elite penny stock newsletter.
Sign up with your email address now & get ready to make HUGE PROFITS on stocks that RUN.
(We are 100% Anti-Spam and will never rent or sell your information)Share