Viking Systems Inc VKNG Looks Potentially Explosive

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.

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