Penny stock watchlist: Tuesday 4 October 2016
Here is today’s penny stock watchlist: Tuesday 4 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.
EKSO (Long) – released a PR pre-market today (literally an hour ago) with positive news of a new product. This stock has already been on a rise since last week (barring a couple of day) and could definitely spike at the open this morning.
XGTI (Long) – this contract winner had a good morning start before fading out both in terms of price and volume. If it breaks 3 month resistance at 57c it may go to $1 (next resistance is at 97c). However based on large volume it should have gone up way more yesterday. As it finished red on the day I’m not sure this will get to $1. Still it may spike in the morning.
NVFY (Long) – 5 up days in a row now! It’s now reached multi-year high from September 2014. It’s trading heavy volume at close to 10m shares so maybe this momentum will propel it to its next resistance at $7.70 although that’s a big ask. Still, momentum trades can spike for a few days so this could have some juice left in its tank. The selling off of its Chinese subsidiary looks like a move that the market rates quite highly.
FVE (Long) – a potential buyout from ABP Acquisition LLC propelled this stock 39.2% yesterday. If it goes up 10c to $2.77 it will break multi-month resistance (May 2016). Next stop is $3.00 and then $3.18. Sometimes it tends to hold its gains for 1 day before going red and then rebounding again. Other times it has up to 3 up days before coming down. It hasn’t had this much volume since July so it could continue its momentum.
VHC (Long) – won a court case against Apple who infringed on VHC’s patent. It’ll be awarded $300m which will be a massive boost to its finances as it has been running at a loss for at least the last 3 years. Annual revenue was only $1.5m last year and they lost $29m so this will be a lifesaver. Stock could continue to spike on this positive news.
MBLX (Long) – Released a PR last Thursday at 9am that it has signed a worldwide exclusive licensing agreement with North Carolina State Uni for it’s technology to improve crop yields. It’s volume yesterday was 10 times it’s normal 3 month average although the price action dipped from 1pm for a couple of hours before finishing stronger albeit still red on the day.
DVAX (Long) – has an upcoming FDA deadline which may approve it’s Hepatitis B vaccine. No one knows if the FDA will grant approval on December 15. There’s a lot of confusion and very little visibility into the ongoing FDA review. Still, the stock rose 19% yesterday and with the large volume could continue to spike higher to $12.86 (next resistance). If it does the next stop could be the round $13 figure.
SCYX (Long) – has been in an uptrend since August 2016 breaking multi-month resistance yesterday. It received an analyst upgrade yesterday -historically it has 3 up days in a row – yesterday was the first. Looks like a cup and handle could be forming as well.
PYDS (Long) – Broke multi-month resistance with its concurrent 3 up days since last Thursday. There’s no real news apart from a statement they’ll be presenting at an upcoming conference. It could be extended here so be careful with it.
BLDP (Long) – the company announced a PR with 12 hydrogen-powered buses being operated in China using new technology. The stock jumped 15% on the news yesterday so it could continue for another day. Be careful as last time it had a big spike like this it lasted 1 day and came crashing down (July 18 2016).
PETX (Long) – I can’t find any news source for yesterday’s spike, apart from a 2 week old PR it’s taking part in a leadership summit. It’s sitting at a multi-year high and it’s previous spikes go on for approximately 3 consecutive days so this could have some more legs at the open.
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.