New York, NY -- (ReleaseWire) -- 11/15/2012 --Medical Marijuana Inc. (PINK:MJNA), a company operating in the medical marijuana and industrial hemp markets, is seeing a sharp rise in its shares in mid-day trading today. MJNA is currently trading 11.13% higher at $0.128 on volume of 16.59 million, which is significantly above the daily average volume of 10 million.
After falling sharply in the previous week, MJNA has rebounded strongly in the last two trading sessions, gaining 42%. The stock is now trading close to $0.14, resistance level. A strong bullish trend will be established once the stock breaks through this level.
The rally in trading today was sparked after MJNA announced its third-quarter financial results. The company reported a substantial increase in third-quarter revenue and income compared to the previous quarter.
Find out when is the best time to trade MJNA by reading the free trend analysis report here: MJNA, Trend analysis report
Poseidon Concepts Corp. (PINK:POOSF), a company engaged in renting fracturing fluid handling tanks used primarily in well completion operations in the oil and gas industry in western Canada and the U.S., are sinking in mid-day trading today. At last check, POOSF was trading 54.20% lower at $6 on volume of 865,045, which is more than 8 times the daily average volume of 101,983.
The sell-off in POOSF was sparked after the company provided a weak outlook. The company lowered its EBITDA outlook after posting a lower profit in the third quarter.
POOSF hit an all-time low of $5.66 in trading today. The stock had been trading sideways prior to today’s plunge. Technical indicators suggest that the downward slide is likely to continue.
Find out where POOSF could be headed by reading the free trend analysis report here: POOSF, Trend analysis report
Santo Mining Corp. (OTC:SANP), the Dominican Republic-based junior mineral exploration company, is down sharply in mid-day trading today, extending its losses from the previous two trading sessions. SANP is currently down 11.45% to $0.735 on volume of 1.89 million. The stock has now fallen more than 43% in the last three trading sessions.
SANP’s recent drop has been accompanied by a sharp rise in volume, which indicates that the market sentiment is now bearish on the stock. A strong bearish trend will be established once the stock falls below $0.7 support level.
SANP is falling after the company on Wednesday announced that it filed a 2:1 Forward Split with FINRA.
Find out more about SANP by reading the free trend analysis report here: SANP, Trend analysis report
OncoSec Medical Inc. (OTC:ONCS) is down sharply in trading today after posting significant gains in the previous trading session. ONCS, which is an emerging drug-medical device company, rose 20.63% in trading on Wednesday after the company reported positive preliminary efficacy results from Phase II study of ImmunoPulse in Metastatic Melanoma patients.
ONCS has pared most of Wednesday’s gains in trading today. The stock is currently down 18.13% to $0.316 on volume of 3.02 million, which is above the daily average volume of 2.40 million. The sell-off today is probably due to profit booking after Wednesday’s rally.
ONCS is still trading above its 50-day and 200-day moving averages. A bearish trend will be established if the stock falls below this level.
Find all the answers to traders questions about ONCS here: ONCS, Trend analysis report
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