So far, December has just been a bunch of bull for the penny stock of GraphOn Corp. (GOJO) after ending Tuesday’s trading session for their 7th straight “green” close. The share price of GOJO stock has risen from as low as 0.217 at the start of the month to its new 52 week high set yesterday, 52.07%. Now that the Company has officially announced their limited beta release of their revolutionary new product, hopTo, which lets users edit documents with a simple touch, swipe or pinch, is there still enough MOJO in the tank to keep pushing the shares further into new blue sky territory?
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GOJO Stock Chart
Market Cap: 28.52M
Close: 0.33 ▲ 0.05 (17.86%)
Volume: 532,698
Dollar Volume: $160,331
High: 0.33
Low: 0.26
Trades: 58
Average Trade Size: 9,184
Authorized: 195,000,000
Issued and Outstanding: 86,418,602
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With a 10-Q for the three months ended September 30, 2012 nearly a month old now, its pretty simple to see from a revenue POV that GOJO has the mustard to cut it. Revenues for the three and nine months ended came in at $1.734 million and $4.916 million, slightly above those reported for the same periods in 2011.
Sure the balance sheets has it downside when it comes to liabilities. But, what is most exciting about GraphOn from that analysis is that there are no notes payable and basically the deferred revenues and warrants liabilities on the books. That said, the launch of their hopTo, which boasts a number of significant advantages over various competing products, could be the icing on the cake needed for this tech innovator to soon see a profit from operations.
As for the technical POV, GOJO has crushed every technical point it had to get to this level. At present, with a 14-Day Rel Strength of 81.93% and a 14-Day Stochastic of 100.00%, the penny shares have but 4 technical points to bust through before they rewrite the analysis points:
- 0.3771 ¦ 3-10 Day MACD Oscillator Stalls
- 0.3767 ¦ Pivot Point 2nd Level Resistance
- 0.3533 ¦ Pivot Point 1st Level Resistance
- 0.3430 ¦ Price Crosses 18-40 Day Moving Average
Based on the pattern and all the bull behind GOJO at present, another PR announcement of how the beta launch of hopTo was received could send the shares pushing the 40’s easily.
About GOJO Stock
GraphOn Corporation, through their wholly owned subsidiary hopTo Inc., is an innovator of cost-effective, advanced solutions that help customers retrieve applications from anywhere. Click here to view the SEC filings for GOJO.
Last 5 Trading Sessions:
| Date | Last | Change | % Change | Volume |
| 12/11/12 | 0.3300 | +0.0500 | +17.86% | 532,600 |
| 12/10/12 | 0.2800 | +0.0320 | +12.90% | 881,200 |
| 12/07/12 | 0.2480 | +0.0080 | +3.33% | 209,500 |
| 12/06/12 | 0.2400 | +0.0200 | +9.09% | 160,200 |
| 12/05/12 | 0.2200 | unch | unch | 111,300 |
Bottom Line: GOJO has just been incredibly hot and should top the list of penny stocks to watch today with traders looking for some kind of pull back. Given the opportunity to get in on a dip, no one is promoting GOJO stock which is 10X better than some awareness campaign having the “flip” effect on the current trend. Will it hit the 40’s before trending back into the 20’s? Closing at the HOD yesterday gives every indication as to which direction this is headed.
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