BEHL – Back in the Saddle Again?

I have blogged on BEHL in the past and got some very good feedback.  BEHL might be ready to take off again.  It was one of our high fliers in the chat room we have (stockhideout.com) and I correctly surmised that the stock needed to take a break.  Once a stock gets hot, some investors keep on hoping it will re-ignite and continue its run.  BEHL needed to take a break and it has.  It might be time to put it back on the radar screen.

Here is the chart:

The stock has been under selling pressure for the entire month of August and is forming a base in the 6-cent range.  The MACD is still bearish, but it appears that the selloff is slowing.  The PR war that BEHL is very good at continues with the latest “Shareholder Update” coming out this morning.  Read it here.  One disturbing item in that report is that the company has appeared on the NASDAQ short list report for six straight days which means that someone is betting on this stock following.  We can only hope the stock goes up and the shorts will be squeezed out.

BEHL, for those who are not aware, is a company that has garnered great headlines in the recent “green” hysteria that has hit the media and the markets.  They have patented a system that will grow Algae in a closed loop photobioreactor system.  Algae is being touted as answer to many problems facing the world today…as a foodsource and as a bio-fuel.

Proceed carefully with BEHL, but keep it on the radar.