GNIN – Green Innovations Ltd is a penny stock at has been involved in one of the latest pump and dumps. This time the promoter running the stock promotion is not the usually suspects. This scam is different than than than some of others which usually spike a lot quickly. This promoter has had several other successful promotions, but GNIN may be one of their most successful ever.
My trading system is signaling the top in GNIN is very close. I call this the sell zone which is an area where I sell all longs, and/or get short stocks. I am projecting $3-3.25 could be the top, although different external factors could skew the data such as buy-ins which sometimes cause massive short squeezes on stocks which are already over extended. The stock could even dump right now in the $2.75 area but chances are it will gap up Tuesday since it closed strong and Monday is a US market holiday. The price action has really started speeding up will always signals capitulation and and reversal in a stock.
Most likely in the next few trading days if not tomorrow, GNIN will collapse. It will be shortable if you are able to locate shares. It will drop about 50%-60% to the $1.40 or $1.20 area initially before a rebound as short sellers cover and dip buyers come into the stock. If you are long do yourself a favor and sell the stock immediately. This stock is not going to $10.00. It is a fraud and in a few months or even weeks, it will be trading below $.50.
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