Penny stock watchlist: Monday 3 October 2016
Here is today’s penny stock watchlist: Monday 3 October 2016. I will also tweet the watchlist and post it on Facebook as well as provide comments for how the stock closed at the end of the trading day. Note my watchlist is based on certain presets including chart pattern, catalyst, volume and price. Stocks that don’t make the grade don’t make the watchlist. Contact me if you would like my configuration.
NVFY (Long) – has a nice multi-year breakout at $3.63. It had massive volume (6.8m shares) compared to its 3m average volume of 279k shares. The catalyst for this rise appears to be the company selling off its Chinese subsidiary and focusing on its other major markets. Be careful though as it has already had 4 straight green days.
Notes at close: Had a small gap down at open before reaching a new high followed by consolidation and closed up very strongly. Closed up 39.9%.
Note at close for indexes: generally the market was down on Monday with all indexes closing slightly lower (Dow, Nasdaq and S&P500).
XNY (Long) – is a Chinese play and on Friday broke previous resistance of $1.70 set 2 weeks ago (Sep 15). Historically it doesn’t tend told its gains long so be careful and also I can’t find any worthwhile news to explain the 26% rise on Friday.
Notes at close: Didn’t do much all day – generally trended down. Closed down 6%.
CNET (Long) – is another Chinese company. Normally spikes tend to have 2-4 up days (Friday was the first). I couldn’t find any news apart for a lodged financials 2 weeks ago so tread carefully.
Notes at close: Opened up to a new high before starting downtrend from 9.45am that carried through the rest of the day. Closed down 6.6%
PYDS (Long) – had a nice 24% spike on Friday but I can’t find substantial news to back it up (apart from 8K lodged 2 weeks ago – Sep 15). It can have up to 3 up days, Friday was the 2nd.
Notes at close: Opened up and gapped down slightly before surging all the way to $3.66 before consolidating for the rest of theday. Closed up 16%
PTCT (Long) -had a 21% up day on Friday due to it’s parent company (RHHBY), who as co-developer of a drug, began enrolling patients in phase 2. It’s at a multi-month breakout at $14.01. It had the first green day of what normally is 2-3 days.
Notes at close: Spiked to $14.27 at 5 minutes before the market opened and then tanked at open to $13.22 Rest of the day was spent consolidating without really going anywhere. Closed down 4.6%.
LEJU (Long) – broke multi-month resistance of $5.34 on Friday on substantial volume compared to its 3m average. I couldn’t locate any substantial news to explain the 18% increase on Friday. Notes at close: Closed very strongly on Friday at $5.25 however started Monday morning lower and for the first 30 minutes continued its downturn. It picked up for the next few hours before not really going anywhere. Closed down 8.2%
AMRS (Long) – is a contract winner and could well spike again in the morning session.
Notes at close: Pre-market showed some promise of a spike but it never came and it ended up consolidating all day before closing slightly higher. Closed up 3.4%.
DRNA (Long) – is a biotech that has had 5 up days so be careful! The only news of note is that it reallocated its resources to focus on other parts of its business. Next point of resistance is at $6.48.
Notes at close: There was a sell-off for most of the day before a tank of 40c at 2.40pm before climbing again however it ran out of legs. Closed down 10%.
BVX (Long) – it’s the first up day has a nice pattern with a multi-year breakout at $5.21. Couldn’t find any substantial news to warrant the 13% spike.
Notes at close: Pre-market was crazy reaching $6.25 at 7.25am however at open it dipped down sharply before having another spike that couldn’t break the pre-market high. Following this it slowly trended up for the rest of the day. Closed up 5.5%.
HCHC (Long) – has been on a steady uptrend since April this year. It has a nice breakout chart and news only is that one of its OTC subsidiaries changed its name 2 weeks ago.
Notes at close: Gained momentum at the open and continued climbing till 11am before slowing down and then not doing anything for the rest of the day. Closed up 3.5%.
Please read my terms and conditions before trading these stocks and note these are only my opinion and not recommendations to buy or sell. Seek independent advice as penny stocks can be risky.