May 8th, 2008 Stock Pick: Nova Biosource Fuels, Inc. (NBF)

Stock Price: $1.13

Nova Biosource Fuels, Inc. is an energy company, engaging in refining and marketing renewable diesel fuel products and related co-products. The company has developed a technology for the production of biodiesel fuel from animal and vegetable fats, oils, and greases.

The kind of fuel NBF is creating through the use of animal, vegetable fats, oils and greases is gaining a lot of attention. The political environment is expected to improve for alternative fuels like biodiesel.

NBF traded multiple times average volume in today's session and has finsihed higher the last three days. We believe NBF has solid short-term momentum and can move higher from its current price with volume high the last four trading days.

NBF has its 50-day moving average ahead at $1.47. We expect NBF to challenge its 50-day moving average with the momentum it has right now.

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