The Penny Picks || Which penny stocks are trending in this range-bound market?

ASX 200 is trading flat at 7027.1, losing all of the day’s gain, after retracing from the high of 7068.4. From April’s second half, the benchmark index has been witnessing a choppy trend. In the last 11 trading sessions, the market closed six times in green and the remaining five times in red. Without any clear sign of trend, the Australian market is expected to trade in a range bound session. However, a few individual stocks might witness a trending move, especially penny stocks.

MCS Services Limited share price is trading at the day’s highest level of AU$0.056, having surged by 24.4%. The stock has also breached its downward sloping trendline and is inching closer towards its 52-week high of AU$0.065. The catalyst behind the rally is the company’s Q3 FY21 results which came after market on Friday.

BBX Minerals Limited has revealed a positive development regarding its ongoing test work at the Ema project. The company said that the tests which were aimed at finetuning the recovery and analysis of gold from a surface bulk sample of mafic intrusive, have yielded consistent, highly significant results.


Disclaimer
The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.
   
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK