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Trading Commentary on High Volume Penny Stocks: (NYSE: GFA), (NYSE: GGB)


New York, NY -- (ReleaseWire) -- 02/07/2013 --Gafisa SA (NYSE: GFA) traded in the range of $4.82 and $5.02 during its latest trading session. The stock had opened at $4.98 and is at $4.89, up 0.93 percent from its previous close of $4.85, with 1.36 million shares volume. Gafisa’s MACD chart shows bullish trend. The stock may go as high as $5.21 level in the coming trading sessions. Its first support level is at $4.67. Gafisa announced its fourth quarter results and it reported 156 percent increase in its new project launches to $733.3 million. Its new launches for the full financial year stood at 2.95 billion reais, down 16 percent.

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Gerdau SA (NYSE: GGB) stock is at $8.91, up 0.34 percent from its previous close of $8.88. Its latest trading volume has been recorded at 1.914 million shares, in contrast to its average daily trading volume of 5.943 million shares. The stock shows neutral trend. It is likely to maintain its stance in the short run and medium run. Gerdau SA is likely to go up to $9.02 level in the coming trading sessions, while its second resistance level is at $9.14. The stock is likely to face support level at $8.84.

Gerdau SA is engaged in the business of steel products.

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