On June 13th, 2012, the Peter Leeds Penny Stocks to Buy Newsletter suggested a buy of a pick when it was trading at $1.83. Since that time, shares have been trending higher well above the buy price, and have hit $2.75 within three months. According to the Peter Leeds analysis team, they still anticipate higher prices going forward.
New York, NY -- (SBWIRE) -- 11/05/2012 -- The Peter Leeds Penny Stocks to Buy team has conducted further review, and announce that they anticipate even higher prices from shares going forward. After initially selecting this company as a buy on June 13th, 2012, the shares have driven significantly higher in a matter of a few months. The original opinion ranges were a buy at $1.75 on the low end of the buy range, and a buy at $1.88 on the high end of the buy range. Shares at that point were at $1.83, and since have rocketed towards the $2.99 high sell range within a matter of three months, hitting as high as $2.75.
"When penny stocks are still in a strong uptrend," mentions Peter Leeds, publisher of the penny stocks to buy newsletter, author, and expert in penny stocks, "they will have further upside. It will not surprise us if this pick breaks the $3 range, which would represent a significant gain over our original buy opinion price."
Leeds points out that he and his team go against the grain in the penny stocks industry, as they do not receive compensation from the penny stocks they review or suggest to buy. The Peter Leeds Penny Stocks to Buy team also do not own shares in the penny stocks they select as Hot List penny stocks to buy, in order to avoid vested interests.
"We have been in the penny stocks to buy industry for fourteen years," mentions Leeds, "and to this day we have not received a single penny from any of the penny stocks we have reviewed or suggested to buy. We know of no one else who can make that claim."
When asked when, and if, he expects shares to come back down, Leeds suggests trusting the technicals. "Watch the upward trend in penny stocks, and when that slows or levels out, and is met with a major decrease in trading volume above it's average amount, or a major decrease significantly below it's average daily amount, that will signal some downside to come."
Leeds adds that as long as the original price drivers are in place, which helped this penny stock make it onto the buy list, are still in place, then the shares may continue their upward trend. In this case, Leeds suggests that the original price drivers are in fact still in place, which include a takeover attempt, and strongly improving financial results. Leeds does not suggest that this penny stock is a buy at current prices, and that the greatest profits are being seen by investors in penny stocks who got involved at the original buy prices suggested by the Peter Leeds team.