Last week was red hot for penny stocks, mostly thanks to the GLORIOUS AeroClean Technologies, Inc. (NASDAQ: AERC) squeeze…
But Friday morning was pretty quiet for the second week in a row.
And like last week, I was still excited about a few plays … but I was waiting for the afternoon.
Because while volume was low on some of our favorite runners of the week, that can change quickly…
And when key levels break, that can trigger massive squeezes as we saw in AERC.
So let’s look at some of last week’s runners that are hanging around, and what key levels I like heading into this week…
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Watch These Stocks That Are Hanging Around
Here are some potential rollover watches from Friday…
- In the morning SteadyTrade Team webinar I said it looks like “nobody cares” about Cogent Biosciences, Inc. (NASDAQ: COGT). It was hanging around and had a favorable offering price, but it had no volume. But it turned into a slow grinder and gained almost 20%. Like I said in my weekly watchlist, I like it for most of my patterns. And it could get interesting if it can break above key levels, like the $10 whole dollar level. BUT, I want to see more volume.
- Comera Life Sciences Holdings, Inc. (NASDAQ: CMRA) had a red-to-green move with high volume on Friday. Then it chopped sideways. It’s still hanging around and could get moving if it breaks above the $5 level. But again, I want to see high volume.
- Mereo BioPharma Group plc (NASDAQ: MREO) is another stock I wasn’t in love with on Friday morning. I didn’t like the news and the fact that it was a day one runner. If you’ve been following me, you know I prefer stocks that can run for multiple days. But MREO held up throughout the day. Watch it for potential weak open red-to-green moves. But remember, it has a high float so needs lots of volume. And it doesn’t have the range of a low float stock.
How to Prepare For This Week
Even though you can’t trade today, you can still work to get 1% better…
- Go back and study chart patterns of recent runners and make trading plans
- Study and prepare with the watchlist I sent you yesterday. (It’s in your inbox.)
- Catch up on some reading — see my top 5 favorite trading books here.
- SteadyTrade Team members can catch up on all the archived webinars here.
And don’t forget to join me LIVE tomorrow morning for Pre-Market Prep on YouTube. We’ll go over the best potential plays and I’ll lay out my game plan for each ticker.
If you want to join me the rest of the week, sign up here.
See you all tomorrow!
Lead Trainer, StocksToTrade