Yesterday the overall markets ripped higher. But that didn’t necessarily equal a ton of penny stock trade opportunities.
So what do you do on a day like that?
Well, in the SteadyTrade Team morning webinar, I gave the gold star to a member who has the right idea.
And if you followed his strategy, you could’ve caught a $3 per share move!
On a day when there wasn’t a lot out there — here’s how…
How To Focus On The Best Trades
In the morning webinar, some members were distracted by crappy biotech penny stock NeuroBo Pharmaceuticals, Inc.’s (NASDAQ: NRBO) destruction after an offering.
But what I try to explain to students is that we don’t care about the company, the offering, or why it’s pumped in chat rooms.
A stock is just a four-letter ticker that represents a potential trade opportunity — IF we see a pattern to trade.
Price action is most important. Not news, or whether it’s a chat pump.
But it was slim picking out there yesterday…
On days like that, instead of getting distracted by subpar setups or random tickers, try this SteadyTrade Team member’s strategy…
Oracle spits out 20 stocks every morning with the most potential to offer an opportunity. And shortly after the market opens, it gives you important levels to look for.
So waiting for Oracle to populate signals and plan a trade in low floats with volume is a good strategy — especially on a day like yesterday. Focus on the 20 best stocks!
That comment earned him the gold star.
But more importantly, if you followed the same strategy you would have caught almost a $3 per share move in Digital World Acquisition Corp. (NASDAQ: DWAC). That’s a 10% gain!
No, DWAC isn’t a low-float stock. But it’s lowish. It ran the day before and was holding up in premarket. So it had the potential to become a multi-day runner.
Oracle laid out this plan…
An entry signal of $26.85 and resistance at $29.95. And here’s the move it made on the chart…
DWAC chart: 1-day, 1-minute candle — courtesy of StocksToTrade.com
Some people are thinking of this as an election play. I don’t agree, but we can take advantage of the moves…
And people love to short DWAC so it has the potential to squeeze.
In a market like this, it’s even more important to have the essential tools that can alert you to potential trades.
And Oracle alerts you to 20 every single day the market is open.
Take advantage of it for 14-days here. I know you’ll see how powerful it is and wonder how you lived without it!
Have a great day everyone. See you back here tomorrow.
Tim Bohen
Lead Trainer, StocksToTrade