Armarda (technical)

Armarda: appears to be a bullish break out play , following the sustained move above the 200day MA. Aggressive traders who have a tolerance for penny stock volatility may find an interesting risk-reward structure in this technical chart. Given the positive bias, do not rule out a rebound toward the 4.2 ct level (52 wk high), followed by 5.8 cts in extension (peak of the 200day MA in Oct '11). Near term support is at 3 cts, although firmer support lies at 2.2 cts, coinciding with the 200day MA.