Article from OTCMAGIC.com yesterday 10/29/2012
Applied DNA could be setting up for a Monster Run here!
Update: A lot has happened since I initially wrote this article when APDN was trading at $0.03 At that time I was impressed with the company' strong revenues and explosive technical indicators.
Since then APDN exploded to highs near $0.30 last month and the stock is currently trading just under $0.20 on several million shares traded per day. The Stock is currently trading at the bottom of its new trading range and needs to hold over $0.17 here.
Applied DNA Sciences, Inc. has been trading on the OTCBB for years and traded as high as $3.50 per share close to a decade ago. I initially wrote this article when APDN was trading around $0.03 I was encouraged by the Companies strong revenues and technicals. Since then the stock has exploded after the provider of DNA-based anti-counterfeiting technology and product authentication solutions, announced its financial results for the third fiscal quarter ending June 30, 2012, generating revenues of $528,574. This represents a revenue increase of 130% from the year before and is higher than their prior record revenue in any complete fiscal year.
One of the factors that initially contributed to this run (besides the steady accumulation that has marked this run from the beginning) were the now confirmed rumors that Applied DNA has been named by DoD Defense Logistics Agency as the provider of authentication services for microcircuits supplied by defense contractors.
Already on track to do over $2M in revenues this year, it is becoming clear that there is a huge need and demand for Applied DNA’s technology. This is a penny stock that has flown under the radar for a long time but it looks like that is changing and fast. Currently under heavy accumulation APDN looks primed for a significant breakout to much higher levels. This is one stock that needs to be on every penny stock speculators watch list because it just might provide a spectacular trade opportunity in the coming weeks and months ahead!
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