CytoSorbents Corporation - tag category postings

CytoSorbents Corporation CTSO may be about to break out from a symmetrical triangle formation.  I thought it was worth a short mention.  CytoSorbents Corporation trades on the OTC BB exchange (this is usually a positive point I sometimes give weight to as I consider stocks trading on the OTC BB of generally higher stature then those that trade on the pinksheet exchanges) and appears to be a biotech penny stock that has a blood purification technology.

I happened to have it on my watch list and have been eyeing it now and then but noticed today that it appears to be as about compressed as it will ever be right into the apex of a somewhat large 1 month symmetrical triangle formation.

It looks like north of .095 is where CTSO needs to be to get a run going.  The symmetrical triangle has possible target implication of about .12 which would be about 20% from here.

The risk is that the price of CTSO has travelled all the way into the apex of the symmetrical triangle which makes it less reliable.

There has also been somewhat of a volume surge in this penny stock during the last 4 days but price has barely moved.

This stock has shown that it has the ability to move a little bit in the past.  It went from .06 cents to .40 cents in 2009 after a previous long consolidation.

Presently the stock has been trading in a long down trending channel and the apex of this triangle meets pretty close to where the down trending channel line sits.

Finally I should say that I have noticed in recent days that many penny stocks are starting to come alive.  Perhaps it has to do with the broad market speculative recovery from its mini bear market, or perhaps it has to do with penny stock investors anticipating the beginning of penny stock trading season.