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Penson Worldwide(PNSN) is a provider of a range of critical securities and futures processing infrastructure products and services to the global financial services industry. This stock is trading up 5.5% at $1.16 in recent trading.
Today's Range: $1.11-$1.18
52-week Range: $0.93-$7.41
Three-Month Average Volume: 189,505
From a technical standpoint, this stock is has been downtrending for months with shares consistently making lower highs and lower lows, which is very bearish price action. That said, the stock has just found some big buying support at around 92 cents to $1 a share.
This is a stock I wouldn't get interested in until it can move back above its 50-day moving average of $1.37 on high volume. Traders should watch for a high-volume move over $1.37 that registers volume close to or above its three-month average action of 189,505 shares.
-- Written by Roberto Pedone in Winderemere, Fla.