Stock Analyzer's  Instablog

Evening members,

For those of you that love the thrill of the small cap or "penny" stock markets, then I would encourage you to take a look at EGT Entertainment Gaming Asia Inc.

Here is a stock with a market cap of just 123 million and a float of around 63 million shares. These are the types of small caps I love getting my hands on right before they see a major breakout.

Yes EGT has already seen a solid move in the last week or two, but looking at the weekly stock chart for EGT it's clear to see this stock was trading at just over $5 per share not very long ago and is just now starting a potential major ascend up the line.

As a matter of fact, for you fundamental traders out there, EGT has approximately 46% of its shares held by insiders. Simple math says if nearly 50% of your shares are held by insiders that something good must be going on with the company; or so we hope.

Technically speaking, EGT is nearing a big breakout point of $1 per share and if this happens cleanly tomorrow morning, then we could see a potential pop to $1.20 to $1.25 or maybe higher.

For all the details on EGT and where I think this small cap wonder could go if we break $1.25 then please click here

I look forward to updating you on this technical breakout chart of EGT and many others as time goes on.

As always, good luck and happy trading.

Entertainment Gaming Asia Inc. engages in the ownership and leasing of electronic gaming machines (EGMs) in resorts, hotels, and other venues primarily in Cambodia and the Philippines. It also designs, manufactures, and distributes table game products consisting of RFID casino chips that enable casinos to identify counterfeit casino chips and track table play; traditional casino chips for various table games that include a range of American-style gaming chips; and RFID casino plaques. In addition, the company engages in the design, manufacture, and distribution other plastic products. As of December 31, 2011, it operated 1,477 EGM seats, which included 719 EGM seats in Cambodia and 758 EGM seats in the Philippines. The company was formerly known as Elixir Gaming Technologies, Inc. and changed its name to Entertainment Gaming Asia Inc. in July 2010. Entertainment Gaming Asia Inc. was founded in 1995 and is based in Central, Hong Kong.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.