Looking for a few penny stocks to tap into? There are several out there worth considering, but a small handful rose to the top of the list of potential ideas. They are Northwest Biotherapeutics, Inc (OTC:NWBO), NewCardio, Inc. (OTC:NWCI), and Iconic Brands, Inc. (OTC:ICNB). Here’s a closer look at each.

Iconic Brands, Inc.

We’ve seen plenty of up and down from Iconic Brands, Inc. (OTC:ICNB) over the last several months. Since November though, we’ve seen more up than down. In fact, ICNB crossed above its 100 day moving averages line (gray) two weeks ago, and after falling back a bit shortly afterwards, is on the rise again.

The real prompt here is the way he 20 day line stepped in as support last week, and pushed ICNB back up…. with some decent volume to boot. This is all a solid sign that a base is setting up here, fueling the next move higher.

NewCardio, Inc.

NewCardio, Inc. (OTC:NWCI) is actually a bearish possibility, for those of you who can short penny stocks.

The line in the sand is $1.31, where NWCI found a low on Friday as well as in late January. Volume hasn’t been excessively bearish yet, though Friday’s slight increase in volume on a day the stock was falling - particularly when the rest of the market was rallying - certainly doesn’t make a bullish case for NewCardio, Inc.

The final straw may have already been laid… the cross under the 20 day moving average line two weeks ago. It had been a support line for NWCI until then.

Northwest Biotherapeutics, Inc.

Northwest Biotherapeutics, Inc. (OTC:NWBO) is being squeezed between a rock and a hard place, but at least it’s a bullish slant. With horizontal resistance at $0.95 and rising support just below the current price of $0.94, something’s got to give soon for NWBO. The volume and bigger trend suggest the bulls are having their way with this penny stock, particularly now that the 20 and 50 day moving averages are acting as support.

Target-wise, you’d be crazy to not use the $1.70 area as an objective for Northwest Biotherapeutics. That’s been the top-out level twice since March of last year.

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