viking systems inc - tag category postings

This post is just a quick heads up that VKNG or Viking Systems Inc moved above what I consider to be very important resistance at .28  I believe this ‘mature’ penny stock is slowly starting to build trend strength for a stage 2 advance that should eventually take it back up to $1.00 range again.  In the near term the .28 level would ideally hold up as new support.

It will probably take a good amount of time to get up there again, but the first key date remains the early October period as I indicated in my previous post on biotech equipment company.

VKNG can have a somewhat spotty trading style but it is important to keep the larger chart structure in mind which is a huge sign of strength from .005 to $1 range, then a long saucer bottom type formation of 3/4 of a year in length.

The best setups are those that evolve from very large patterns and show clues and signs of strength within.  I can name you plenty of penny stocks that move big every day but which ones have some real ‘meat’ behind them ?  That consideration is one of the most important ones to consider in this volatile sector.

The VKNG setup is quite rare in my opinion but it will probably take a good amount of patience to see it play out fully.

The volume was robust today but still not of the level I would expect to see for the start of a mega move.  Keep in mind that the previous run of .005 to $1 only took about 15 trading days.

We are still almost 2 full months away from early October and also still in the low volume trading month of August.  So I suspect there will still be some games being played for a while in this stock.  But September 2010 should be a much different story.

I am upgrading Viking Systems Inc to a penny stock rating of 1 because the chart is starting to shape up extremely attractively from my view and there are also some forward looking events that will be extremely relevant to the performance of the stock.

This penny stock appears to have some real potential based not only on the technical analysis of the chart but maybe be one of the few penny stocks out there that actually has a chance at making some real money.  They have a 3D HD tool for surgeons.  You can read their recent corporate PDF presentation on their product.

They are planning the launch of their product in Q4 2010 and are in the final phases of product launch and plan to present it on October 3-7th 2010 at the American College of Surgeons Clinical Congress where over 9000 domestic and international surgeons will be present.

This date looks like it is going to be a very important forward looking event for Viking Systems Inc and I suspect the stock will trade higher right into this date.

You have to like the market here and the potential in terms of sheer size.

I don’t normally talk about fundamentals that much but it seemed prudent to cover at least a little bit of that ground with VKNG because they appear to be moving past development stage into a company that actually sells a high value product.

The technical analysis of Viking Systems Inc looks good right now as well.  Moving above the .28 price point would be a significant milestone for this stock as it would put it above a 3 to 4 month trading range.  Two days ago it has shown a nice big marubozu candlestick on robust volume and engulfed at least a months worth of prices.

Viking Systems Inc has many of the qualities I look for in a superb penny stock.  It has the previous mega run from .005 to 1.00 a year ago showing an enormous sign of strength.

Since then it has consolidated for a very long time essentially sideways with a few big volume spikes in between coupled with big demand price bars.

I think VKNG is getting ready for prime time into October 3 to 7, 2010.  Usually there tends to be a lot of excitement about a product launch and into an important conference.  This is good, but it is different from actually selling 1000 of their products.  This is why in penny stocks penny stocks dot com opinion, VKNG will likely rally into this date range (now 2 months away) and then fizzle out after the excitement dies down.

Viking Systems Inc is also showing a weekly MACD histogram buy signal and the weekly trend appears to be set in the upward motion now.

Above .28 is key for VKNG right now and if achieved could start a slow and steady uptrend channel.

VKNG gets a penny stock rating of  1.

Viking Systems, Inc. was just mentioned to me on a stock message board and I casually checked it out and a few alarm bells went off in my head.

Occasionally I run into penny stocks that others mention just at random.  I casually take a look and most of the time they don’t get me that interested, but on a rare occasion they jump out at me.  Viking Systems, Inc. fits that description perfectly.

VKNG trades on the OTC BB and has a small trading float.  The stock also had a HUGE run in November of 2009 from a price point of .004 to 1 DOLLAR.  That is a price percentage gain of 25,000% or a 250 bagger. Unbelievable.

Recently VKNG made a huge 100% move with a nice large power candlestick almost resembling a MARIBUZU candlestick which shows that a possible new strong uptrend may begin.

It is consolidating right now and IF VKNG wants to trade higher from here then this week it really ought to hold .25 cents.  If it breaks below .25 this week then it may not be able to get a continuation run going.  But as long as it can bounce around between .25 and the recent highs I think VKNG may have a shot at another run higher soon.

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