Herborium Group Inc. (PINK: HBRM) Technical Update! Golden Cross Forming On The Daily Chart!
Happy Monday mi amors!
I hope that you all had a wonderful and relaxing weekend but it’s back to the grind and it’s also time to take a quick look at the chart for Herborium Group Inc. (PINK: HBRM) since this is a major catalyst week for them.
HBRM has brought some saavy roaches gains upwards of 230% when it was first alerted on March 19th when it was all you could buy shares at .0019, and .0020!
China Health Resources (US OTC: CHRI) the company that has signed an LOI to acquire HBRM back in Feburary has reported a record breaking 4th quarter for 2011 and according to their corporate guidance for 2012, CHRI has stated that they plan on increasing their revenues through strategic alliances and penetrating markets outside of Asia.
Now what could this mean for HBRM? It appears that CHRI is interested in HBRM in order to start marketing their products in the United States. Herbal remedies and alternative medical therapies is a global MULTI BILLION DOLLAR industry with CHRI and HBRM looking to get a larger slice of that cash cow pie.
With buyout fever in the air, and a whole lot of hype and talk on what news could be released by HBRM on the 6th, traders and investors alike are gobbling up shares like they are going out of style. I’ll get to the chart right after a reminder to:
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Papa Roach has been hitting homeruns out of the ballpark lately with his alerts so don’t let another one pass you by!
Now let’s get a quick look at HBRM’s sweet sweet daily candystick chart: http://stockcharts.com/h-sc/ui?s=HBRM&p=D&b=5&g=0&id=p03155934546
There are a couple of crucial support levels, and of course a couple of resistance levels that we all need to keep an eye on, and they are as follows:
Supports come in at .005 with lower level supports coming in at .0042, and .0035.
Resistance comes in at .0055, .006 and .0066.
There is a golden cross forming on the charts, and that 50 DMA is moving up rather quickly to meet and cross the 200 DMA. At the rate the 50 DMA has been rising, I wouldn’t be surprised to see that golden cross effect by Thursday. I’m also looking for a break and hold of .006 or better sometime this week which means that HBRM could make a run for the golden pennies.
With a major catalyst in the pipeline and a chart that just screams El Toro, I wouldn’t take my eyes of off HBRM anytime soon my fellow roaches.
Senorita “Bringing you better odds than Mega Millions!” Roachita
These corporate profiles are provided for information purposes only and should not
be used as the basis for any investment decision. We are neither licensed nor
qualified to provide investment advice. We were not paid, nor do we hold a
position in these stocks. We reserve the right to buy or sell HBRM and CHRI at any time
after this post.
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