Top Stocks to Watch in August 2024

My top stocks to watch in August 2024 have the kind of volatility that smart traders target. Every day, week, and month I survey the entire market, looking for stocks that are trending in one direction or another. Our job is to identify the stocks that have the potential to make moves and be ready to trade them if those opportunities come about.

7 Top Stocks To Watch

My top stock watchlist picks for August — based on pattern, price action, and catalyst — include the following:

Stock Ticker	Company	Performance (YTD)
NASDAQ: SERV	Serve Robotics Inc	– 29.92%
NASDAQ: RR	Richtech Robotics Inc	– 75.37%
NASDAQ: NUWE	Nuwellis Inc	– 88.28%
NASDAQ: CMAX	Caremax Inc	– 53.65%
NYSE: MO	Altria Group Inc	+ 17.87%
NASDAQ: NUZE	NuZee Inc	+ 139.20%
NASDAQ: TSLL	Direxion Daily TSLA Bull 2X Shares	– 17.84%

The stocks on this list are some of the craziest movers on the market …

Only trade these stocks if you have a solid plan and an understanding of the risks involved. I don’t trade until I see a setup I like.

Jump ahead to get to my trading plans for these top stocks!

Top Stocks to Watch Today

My top 7 stock picks are:

• NASDAQ: LUCY — Innovative Eyewear Inc. — One of Oracle’s Twelve (!) 100% Gainers in May
• NASDAQ: ONMD — OneMedNet Corporation — The Medical Data AI Stock
• NASDAQ: LIDR — Aeye Inc — The Autonomous Vehicle AI Stock
• NASDAQ: FFIE — Faraday Future Intelligent Electric Inc — The 9,600%* Meme Stock Spiker
• NASDAQ: MGOL — MGO Global Inc — The Earnings Meme Stock Winner
• NYSE: CCJ — Cameco Corporation — The Uranium IRIS Swing Play That’s Still Swinging
• NYSE: BNED — Barnes & Noble Education Inc — The Nostalgia Play With a Hedge Fund Catalyst

Remember — we’re traders, not investors. You need to keep that mentality in mind even if you’re a swing trader.

That means:

• Always having a trading plan — and sticking to it.
• If a stock drops below risk, you need to sell. Only losers hold onto losers.

There are some stocks on this watchlist that are day trade only. Holding onto these volatile small-cap stocks overnight can lead to some nasty surprises, like when a biotech penny stock does a new share offering to cash in on its gains.

These penny stocks aren’t directly impacted by the larger market …

But over the years I’ve noticed an indirect relationship that’s important to understand.

When major indices show strength, it leads to more plays in the penny stock niche.

I try to focus on the momentum that I can see with my eyes. I’m not going to speculate on future moves.

The key is to approach every day the same. Be prepared to capitalize on volatility.

I let the trades come to me.

That’s why I’m not holding any long-term positions in these tickers.

I’m just watching these stocks. And this is one of many watchlists I maintain…

Sign up here to get my weekly watchlist each Sunday!

There’s no guarantee that any of my watchlist picks will be tradeable. But if something happens, smart traders should be ready.

Here’s some background info on penny stocks:

• What is the most promising penny stock?

A stock with a lot of volatility like Serve Robotics Inc (NASDAQ: SERV) is a promising penny stock. But remember — we’re traders, not investors. We’re watching the stocks on this list for short-term volatility that we can trade, not predicting which of these stocks will still be around in 2030.

• What are the top 3 penny stocks to buy now?

My top 3 penny stocks to buy now (as long as their price action is strong) are Serve Robotics Inc (NASDAQ: SERV), Richtech Robotics Inc (NASDAQ: RR), and Caremax Inc (NASDAQ: CMAX).

• Which penny stocks have a “Strong Buy” analyst rating?

Analysts don’t give any penny stocks “strong buy” ratings. These stocks are sketchy and unstable — you should never “invest” in them. Always trade with a plan.

Let’s get to the picks …

Best Penny Stocks for August 2024

These are the top 7 penny stocks to watch in August 2024…

They have a chance to catch fire…

Watch them — and don’t get burned!

Serve Robotics Inc (NASDAQ: SERV) — The NVIDIA Partnership AI Penny Stock

My first stock pick is Serve Robotics Inc (NASDAQ: SERV),

On Thursday, July 18, during after hours the market learned that NVIDIA Corporation (NASDAQ: NVDA) acquired a $3.7 million stake in SERV.

As a direct result, prices launched 420%* by that Monday, July 22.

Traders in our community immediately noticed the opportunity on SERV, because this isn’t the first spike that we’ve seen related to NVDA.

Earlier this year, between February and March, we watched SOUN spike 350%* after the market learned that NVDA acquired a stake in the small-cap stock.

These patterns can repeat in the market … 

SERV is still in play because the price is still up. It even surged to new highs on Tuesday, July 30.

Take a look at this chart, every candle represents one trading minute:

Now, recall that SOUN’s move lasted several weeks. The move on SERV could behave similarly!

Don’t waste your hard-earned cash with random positions on this runner … 

The price action changes every day. To stay on top of TODAY’S opportunities:

Join the next trading livestream!

We track the hottest stocks everyday in real time so that traders are truly prepared to profit. 

Pay attention to key areas of support and resistance on this massive AI-runner. There are already a few traders in our community playing the panic-dip buys in the mornings…

Get ready for the next dip-buy opportunity!

Richtech Robotics Inc (NASDAQ: RR) — The SERV Sympathy Play Penny Stock

My second stock pick is Richtech Robotics Inc (NASDAQ: RR),

When SERV spiked 420%*, it set the small-cap AI sector on fire.

And RR was a perfect sympathy play … 

First of all, the float is relatively low, with only 12 million shares. Anything below 10 million shares is considered a low supply of shares, and the low supply helps prices spike higher when demand increases.

This is an inexact science. Less than 10 million shares is the goal … But 12 million is pretty close. Especially when we compare it to larger stocks in the market with floats over 1 billion shares.

RR also has recent news — the installation of RR ADAM robots at several “ghost kitchens.”

The stock spiked 110%* between Friday, July 19 and Monday 22 in response to the SERV spike and the bullish business news.

One of the most successful students in our community, Jack Kellogg traded the RR spike … He’s on fire in 2024!

Take a look at his trade details below:

This is where Jack posts his more detailed trade plans!

The price took a huge dive after the spike on July 22, but it’s still on my list because past spikers can spike again …

It’s one of the most important notes that I learned from Tim Sykes: These crappy stocks don’t spike forever, but they can spike month after month and year after year.

Our job as traders is to wait for the next spike.

Already toward the end of July we saw a bit of a resurgence in bullish price action from RR. This stock isn’t dead yet!

Nuwellis Inc (NASDAQ: NUWE) — The Tiny Float Penny Stock

My third stock pick is Nuwellis Inc (NASDAQ: NUWE),

Speaking of low-float stocks … NUWE only has 515k shares in the float.

That’s well below our goal of 10 million shares or fewer, and it points to some insane volatility in the short term.

On July 24 the company announced a $2 million public offering that caused the stock to dip a bit. But … Now that the offering is over, it’s highly unlikely that we’ll see another offering soon.

That means: We’re free to trade this stock’s bullish momentum without worrying too much about another offering causing a price crash.

Sketchy penny stocks like to hold public offerings as a cash grab. But it also usually tanks the price of the stock. It’s always something to keep in the back of our minds when trading biotech stocks like NUWE.

There’s a lot of niche information that a trader needs to know to stay safe in this market. Stick with me! I’m here to educate and inform new traders.

New traders don’t know what they don’t know … That can be dangerous in the stock market.

Caremax Inc (NASDAQ: CMAX) — The Oracle Pick Multi-Day Runner

My fourth stock pick is Caremax Inc (NASDAQ: CMAX),

This is a biotech-adjacent stock.

The biotech sector has been red-hot for months!

These crappy stocks can spike +100% with bullish news before they come crashing down again. And we can take advantage of the short term bull momentum!

But there are dangers for new traders. You don’t want to get stuck on the wrong side of this momentum.

That’s why we use trading tools like Oracle to find solid entries and exits on the markets hottest stocks.

Oracle scans the past price action of volatile stocks and identifies key areas of support and resistance that traders can use to build positions.

CMAX was one of Oracle’s favorite stocks in July … And the price spiked 430%* starting July 22. Take a look at the chart below:

Use Oracle to find solid entry and exit points!

This stock is still in play. And it’s still following support and resistance lines … 

Don’t waste this opportunity to capitalize!

Altria Group Inc. (NYSE: MO) — My Favorite Swing Trade Right Now

My fifth stock pick is Altria Group Inc. (NYSE: MO),

This company owns Zyn, the nicotine packets that have absolutely EXPLODED with demand in recent years.

IRIS, the AI stock picker I helped develop, gave this stock an 8 out of 10 earlier in July and it’s on a huge bull rally right now.

Take a look at the chart below, every candle represents one trading day:

Our Oracle trading tool is on fire. This trajectory on MO is crazy!

There’s still a chance to build a position on this stock … But don’t trade at random. Random positions will get you random results.

Here’s how we trade stocks like MO.

NuZee Inc. (NASDAQ: NUZE) — The Chat Pump Survivor Penny Stock

My sixth stock pick is NuZee Inc. (NASDAQ: NUZE),

On July 23, the market learned that Liu Yumei, who was already a significant shareholder of NUZE, holding 10% of the outstanding stock, increased her position by $797,000.

There’s a saying in the stock market: Follow the smart money.

When a major investor makes a move on a low-priced stock, it can often lead to substantial price spikes in the short term.

And as traders, we can profit off of that volatility!

When the market learned of Yumei’s investment, chat pumps immediately tried to capitalize off of the price action.

Now, when chat rooms get a hold of a stock, sometimes the excitement causes the stock to crap out. All of the chat room volatility can spoil volatility for the rest of the market lol.

But … The price is still up on NUZE!

The price is working toward the breakout level right now. On the chart below every candle represents one trading minute:

Also, StocksToTrade shows that the share count is incredibly low! There are only 560k shares in the float.

Remember that the low supply of shares helps prices spike higher!

NUZE is a tinder box that’s slowly approaching a break-out spark … Get ready for the explosion.

Direxion Daily TSLA Bull 2X Shares (NASDAQ: TSLL) — The Cheaper Way to Trade TSLA

My seventh stock pick is Direxion Daily TSLA Bull 2X Shares (NASDAQ: TSLL),

Interested in some of the market’s hottest stocks? But don’t have a large enough account to trade them??

No problem … 

We can trade larger stocks using options. Or we can use lower-priced ETFs designed to track larger stock momentum.

For example: Tesla Inc. (NASDAQ: TSLA) is one of the most popular names in the U.S. stock market.

But share prices are over $200 per share … 

Traders interested in TSLA’s price action can trade TSLL instead! The ETF’s share prices are around $10 right now.

And as you can see below, the charts have a lot of similarities … 

Here’s a TSLA chart, every candle represents one trading day:

And here’s a TSLL chart:

Since TSLA is a larger stock, there isn’t as much intraday volatility. It’s a solid swing-trade setup.

And as a result … So is TSLL.

Our AI swing-trade bot is tracking this price RIGHT NOW!

Not sure how to capitalize on this runner?

Follow the entry and exit levels alerted by our AI trading bot.

 

 

*Past performance does not indicate future results

Top Stocks Under $5

Hot sector penny stocks — whether we’re talking AI penny stocks, biotech penny stocks, or another sector attracting a lot of news — are something traders should always be looking at. The allure lies in the potential for substantial returns on investment, as even minor developments or positive news within these sectors can lead to significant price jumps.

It’s important to proceed with caution and a well-thought-out strategy. The inherent volatility of penny stocks, combined with the speculative nature of emerging sectors like renewable energy and tech innovations, underscores the importance of a meticulous approach. Before diving in, ensure you’ve done your due diligence, looking past the initial excitement to assess the true potential and risks of these ventures. It’s wise to trade these stocks rather than invest long-term, given their unpredictable nature.

Success in trading hot sector stocks priced under $5 hinges on a selective and strategic approach. The goal is to tap into their explosive growth potential while implementing robust risk management practices. By zeroing in on companies making news in their specific niches, traders can seize opportunities for disproportionate gains. This strategy, coupled with a disciplined approach to maintaining a tight investment strategy and promptly cutting losses, can pave the way for trading success in these dynamic market segments.

What Do You Need to Trade Stocks?

The biggest thing you need to become a self-sufficient trader is something money can’t buy…

Patience.

Everything else is easy enough to come by.

Most brokers don’t charge commissions when you buy listed stocks — which is every stock on this list.

You can see the brokers I recommend here.

What else do you need?

You’ll need a trading computer and decent internet. You’ll also need a powerful trading platform like StocksToTrade…

StocksToTrade puts top-of-the-line charts and stock screening at your fingertips. It’s got a built-in news scanner that puts earnings reports and news that move stocks in one place.

We think you’ll see the difference immediately. Get your first 14 days here for only $7.

Then comes the hard part…

You need to learn patterns. You need to find out which strategies work for you. You need to put in screen time…

Paper trading is a good way to get your feet wet. StocksToTrade can do that too.

You need to make trading plans and track your trades. I know, it’s a lot. That’s why I’ve designed the best mentorship program out there — Daily Income Trader.

Our trading community will bring you live webinars, strategy sessions, and the chance to ask questions of me and other top traders.

My goal is to teach you how to think for yourself and trade through any kind of market.

Here’s one of the biggest things I teach you to do… 

How to Find Your Top Stocks to Watch: 5 Tips for Every Day

The best traders don’t believe in ‘hot stocks.’ They watch what the market is doing every single day.

There’s no trick to it. Building a daily watchlist comes down to five easy steps.

#1: Run Your Scans

You know what’s moving by setting your stock screener to pick up the right stocks.

I run scans all through premarket, looking for stocks up at least 10%, on decent volume and a catalyst that isn’t complete garbage.

The market is a game of supply and demand. A stock screener is the best way of measuring that demand.

#2: Know Your Catalysts

Crappy penny stocks will always have press releases and celebrity tweets when they’re running. It’s your job to know what’s fluff and what isn’t.

Luckily, it isn’t hard. Is the market reacting well to it? Then it’s probably decent news.

We have an add-on service specifically dedicated to the news that moves stocks. It’s called Breaking News Chat — and it can be your secret weapon. 

#3: Study the Charts

Studying charts can be the difference between randomly trading a stock and seeing a good entry.

How do I know that most days TSLA starts the day red it often finishes green? It’s because I’ve studied its charts.

#4: Look for Volume

Volume is the biggest indicator of price action.

You can trade a stock move with no news. But you probably don’t want to make a trade with no volume.

This is another thing to study when you’re looking at a chart.

Take a look at a stock’s biggest moves. How much volume does it get when it’s making a move? 

#5: Learn From Other Traders

Never copy another trader’s trades. If you’re last in on a trade, you’ll only make money by luck. And you sure won’t learn to trade for yourself.

The training we offer at StocksToTrade is designed to help you become a self-sufficient trader. We show you how we come up with our trade ideas, we don’t give them to you.

Profit and loss isn’t the mark of a good trader. It’s the planning and execution you put in.

We can help you get there in a few different ways:

• My Weekly Watchlist: On Sundays, my weekly watchlist is free on StocksToTrade’s YouTube channel.
• StocksToTrade Advisory: This is an intro to my trading approach — with premarket sessions, a weekly watchlist, and an in-depth monthly report.
• StocksToTrade Daily Accelerator: This is my no-cost daily newsletter, filled with mindset tips, the best plays of the week, and whatever else I think needs sharing.

Conclusion

I’ve shown you the work that goes into building a watchlist…

And I hope I’ve scared you enough that you don’t take these picks as recommendations!

Trading is something you do at the same time as millions of other people. Having stock picks is as silly as taking cue cards on a date…

And it works about as well.

Your trading success doesn’t depend on any ‘secrets’ I can tell you. The only thing it depends on is you learning about your own trading style.

Treat this watchlist as a starting point. Keep on working on your own watchlists until they fit the way you trade.

What do you think about the stocks I’m watching this month? Have you traded any of them? Let me know in the comments!

*Past performance does not indicate future results