Technical Reviews: BIEL, SNT, GNBT

Wednesday January 13, 2010 9:58 AM PST

By James E Brumley

The market has managed to fight its way back into the black today, though the ability to stay there is still in question.... leading to a tepid trading environment. A handful of stocks like Senesco Technologies, Inc. (AMEX:SNT), Generex Biotechnology Corporation (NASDAQ:GNBT), and Bioelectronics Corp (OTC:BIEL), however, appear to be packing a little more potential punch. Take a look.

Generex Biotechnology Corporation (NASDAQ:GNBT) is back on the radar thanks to a reader request....

Hi, could you update GNBT? It looks to have moved back above resistance and is getting ready to break... the last news releases have been good.

Sure thing. Our last look at Generex Biotechnology Corporation was on December 9th. Prior to that, we'd taken a generally bearish view of GNBT. By the 9th though, it was pretty clear the stock was finding support around $0.50. Since then, we've watched it climb from $0.56 to the current price of $0.66... a gain of about 17%. No complaints.

As far as what the future holds for GNBT, I think we at least have a little more upside to go. I didn't mention it then but I will now - this stock is on an intercept course with a long-term resistance line that's currently at $0.83. The last few times this ceiling was encountered, the stock was halted abruptly; I wouldn't go fishing for an exception this time around. If we do happen to see an exception, so much the better.

I'm not all that worried about the gap between Friday and Monday - we've seen them before from Generex Biotechnology Corporation, and they meant little.