Penny Stock On The Move: Joe’s Jeans (JOEZ) Reports Q1

All attention will be on the hot penny stock of Joe’s Jeans Inc. (NASDAQ: JOEZ) today as the Nasdaq listed designer, developer and global marketer of apparel products reports its Q1 earnings on Thursday. Shares in the penny stock, JOEZ, is currently trading at $1.33, up 5.6% in after-hours on 1,350 shares traded. Add JOEZ to your list of penny stocks to buy.

After having received the letter of death from Nasdaq for ailing to maintain a stock price above $1.00 in 2011, the penny stock, JOEZ,  has made an amazing comeback. Joe’s Jeans Inc. stock price is currently at 34.10% above its 50 day moving average, 75.23% above its 200 day moving average and an amazing 152.00% above its 52-week low (11/10/2011) $0.50.

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The big thing to look for today as the company reports earnings is the mention of moving its focus from wholesale to retail revenues. JOEZ just announced yesterday the lease signing for its 23rd retail store located in the Aventura Mall in Miami, Florida. The company plans on opening the 1,500 sqft boutique on Friday, April 20th.

View JOEZ 10-K fye 11/30/2011 here.
View JOEZ 10-Q summary for quarter ended 11/30/2011 here.

JOEZ Stock Entry/Exit Points:

14 Day RSI at 80%: 2.04
14 Day RSI at 70%: 1.55

4 Week High
13 Week High: 1.50
52 Week High

Pivot Points
2nd Level Resistance: 1.31

1st Level Resistance: 1.28

The future of Joe’s Jeans was catapulted when JOEZ announced the launch of a new brand exclusive to Macy’s Department Stores. The new Joe’s Jeans brand was created to reach young women in search for premium denim product at more affordable prices.

Macy’s has dedicated space in 140 stores in the U.S. for this new product line, so this is a huge deal for the penny stock especially considering since March same-store sales at traditional mall-based retailers has been explosive.

Bottom Line: Add the penny stock JOEZ to your watch list for today immediately. JOEZ will be holding a conference call at 4:30 p.m. EST with CEO, Marc Crossman, and CFO, Hamish Sandhu, to discuss financial results for the first quarter ended February 29, 2012.

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Macy’s destroyed estimates by reporting same-store sales in March grew by 7.3% versus the expectation of just 4.8%. The same was felt by other apparel retailers Zumiez and Gap who both beat consensus estimates by reporting same-store sales growth of 14% and 8% versus consensus estimates of 10% and 4.6% respectively.

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