Stock Trading
Nov. 5, 202418 min read

Top Stocks to Watch in November 2024

Tim BohenAvatar
Written by Tim Bohen

My top stocks to watch in November 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 November — based on pattern, price action, and catalyst — include the following:

Stock Ticker Company Performance (YTD)
NASDAQ: PHUN Phunware Inc + 71.39%
NASDAQ: DJT  Trump Media & Technology Group Corp + 100.20%
NASDAQ: DRUG Bright Minds Biosciences Inc + 2,534.24%
NASDAQ: POET POET Technologies Inc + 301.68%
NASDAQ: APLD Applied Digital Corp – 2.87%
NYSE: PLTR Palantir Technologies Inc + 150.66%
NYSE: OKLO Oklo Inc + 111.89%

The penny 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 penny stocks!

Top Stocks to Watch Today

My top 7 stock picks are:

  • NASDAQ: PHUN — Phunware Inc — The Donald Trump Pump AI Penny Stock
  • NASDAQ: DJT — Trump Media & Technology Group Corp — The Trump Mid-Cap Stock
  • NASDAQ: DRUG — Bright Minds Biosciences Inc — The Meme Biotech Stock Supernova
  • NASDAQ: POET — POET Technologies Inc. — The Optical AI Stock Partnering With Mitsubishi
  • NASDAQ: APLD — Applied Digital Corp — The Data Center Stock With the NVDA Deal
  • NYSE: PLTR — Palantir Technologies Inc — The AI Grinder That I’m Watching Everyday for Weak Open Red-to-Greens
  • NYSE: OKLO — Oklo Inc — The Nuclear Stock Soaring on AI Optimism

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 Phunware Inc (NASDAQ: PHUN) is a good bet for the most promising penny stock. Remember, we’re traders, not investors. We’re watching the stocks on this list for short-term moves, 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 Phunware Inc (NASDAQ: PHUN), POET Technologies Inc (NASDAQ: POET), and Oklo Inc (NYSE: OKLO).

  • 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 November 2024

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

They have a chance to catch fire…

Watch them — and don’t get burned!

Phunware Inc (NASDAQ: PHUN) — The Donald Trump Pump AI Penny Stock

My first penny stock pick is Phunware Inc (NASDAQ: PHUN).

PHUN is a tech company that helps businesses engage with mobile-application audiences. It uses AI to increase efficiency while finding new customers inclined to a business’s content. 

And on October 16, it announced the development of a new generative AI platform.

The stock’s relationship with AI is a good catalyst … but right now I’m watching PHUN for a different reason.

The stock has a history of spiking with relation to Donald Trump.

PHUN helped Trump run his former campaign. And ever since, we’ve seen volatility from this stock connected to Trump.

For example, the price spiked 540%* in January this year in tandem with Trump Media & Technology Group Corp. (NASDAQ: DJT).

In October, as we approached the November 5 election, prices spiked 330%*.

We’re also watching for volatility AFTER the election.

Whether Trump wins or loses, I expect volatility from this AI stock. And we can play that volatility using popular patterns.

Trump Media & Technology Group Corp (NASDAQ: DJT) — The Trump Mid-Cap Stock

My second penny stock pick is Trump Media & Technology Group Corp (NASDAQ: DJT).

This is the OG Trump stock. It represents his social media company Truth Social.

And it has a crazy history of running …

  • In October of 2021 it spiked 1,600%*.
  • In January of 2024 it spiked 230%*.
  • In March it rallied 140%* to make new highs in 2024.
  • And in October, as we approached the election, the price spiked 260%*.

The long-term prospects of this stock aren’t great … Truth Social isn’t very popular. And it doesn’t make much money.

To draw a comparison, Snap Inc. (NYSE: SNAP), the stock that represents social-media company Snapchat, has a market capitalization of $17.8 billion. And in the second quarter of 2024 the company pulled $1.2 billion in revenue.

DJT has a market capitalization of $10.2 billion. By that metric, compared to SNAP’s ratio of market cap. to revenue, DJT should have a second quarter profit of around $894 million, give or take … 

Instead, DJT posted a 2024 second quarter revenue of $837k.

Not even $1 million … 

Here’s my point: Don’t overstay your welcome on DJT.

Even if Trump wins the election, this stock is almost certain to fall off a cliff.

Trade the intraday price action leading up to AND after the election, but don’t believe in the company.

Bright Minds Biosciences Inc (NASDAQ: DRUG) — The Meme Biotech Stock Supernova

My third penny stock pick is Bright Minds Biosciences Inc (NASDAQ: DRUG).

This was the biggest short squeeze of the month!

It seems every few weeks we get a huge short squeeze like this.

Wheeler Real Estate Investment Trust Inc. (NASDAQ: WHLR) squeezed 1,100%* in September.

The short selling strategy is oversaturated right now.

There are a bunch of greedy short sellers who try to profit off of crappy stock spikes.

In theory, it’s a good strategy. These crappy stocks will crash eventually. But when there are too many short sellers in a stock, any bullish momentum could cause short sellers to panic and get out.

And that can create a domino effect of short sellers blowing up.

That’s what we saw from DRUG on October 15 when the price spiked from $3 to $38 intraday.

It looked like the stock would slide lower after such an intense move, but in true short squeeze fashion the price rallied even higher on October 18. The entire move measures 3,000%*!

And the price is still up … which means that it could show us intraday volatility for the next few weeks.

As traders, we can use that volatility to profit.

POET Technologies Inc. (NASDAQ: POET) — The Optical AI Stock Partnering With Mitsubishi

My fourth penny stock pick is POET Technologies Inc. (NASDAQ: POET).

On September 19, POET announced a partnership with Mitsubishi Electric to develop AI imaging technology.

By September 24 the price had spiked 80%!

On the long-term chart we can see the price has been on an upward trajectory since April. It pushed higher one stair step at a time.

It shows that the price can follow support and resistance levels while pushing higher. That’s a great sign of tradeability.

If the price can push above resistance at $4.50, the 52-week highs from September are next … And then we’re off to the races.

Applied Digital Corp (NASDAQ: APLD) — The Data Center Stock With the NVDA Deal

My fifth penny stock pick is Applied Digital Corp (NASDAQ: APLD).

This is the most recent NVIDIA Corporation (NASDAQ: NVDA) investment stock.

We learned of NVDA’s position in APLD on September 5, and by late October the price had spiked 190%*.

Just like the other NVDA-investment stocks …

  • SoundHound AI Inc. (NASDAQ: SOUN)
  • Serve Robotics Inc. (NASDAQ: SERV)

The price is capable of showing us follow-up volatility weeks and months after the initial catalyst.

Traders who neglect these stocks are actively missing out on profit opportunities!

Keep these NVDA investment stocks on your watchlist and wait for the price action to match our patterns!

Palantir Technologies Inc (NYSE: PLTR) — The AI Grinder That I’m Watching Everyday for Weak Open Red-to-Greens

My sixth penny stock pick is Palantir Technologies Inc (NYSE: PLTR).

PLTR joined the S&P 500 ETF Trust (NYSE: SPY) on September 23.

That’s a big deal … The SPY is composed of 500 publicly-traded companies that lead the market.

Before the AI boom began, PLTR was trading below $10 per share. And it was significantly beat down due to the overall tech-sector weakness in 2022.

But in November 2024 … this is a sector leader in the software industry and it’s included in one of the market’s most popular indices!

A lot of people get nervous when they see this stock, because they don’t want to buy an overextended runner, and the move over the last few months is already impressive.

Take a look at the chart below:

PLTR chart multi-month, 1-day candles Source: StocksToTrade

We don’t have to expose ourselves to the whims of the market.

The goal is to swing trade this runner using solid points of support and resistance. There’s a science to this!

And over 9 long months, I taught this trading process to an AI bot.

The patterns are the same … it was only a matter of time until the AI caught on!

Our AI tool, IRIS, is obsessed with this stock. PLTR’s been on the IRIS watchlist for months!

Plus, you don’t have to gamble on a random position. IRIS gives us smart trade plans that match my framework.

Use IRIS to build positions on PLTR.

Oklo Inc (NYSE: OKLO) — The Nuclear Stock Soaring on AI Optimism

My seventh penny stock pick is Oklo Inc (NYSE: OKLO).

The energy sector is in a major transitionary phase right now.

It might not seem like it to the average consumer … But major tech companies are pouring billions of dollars into nuclear energy projects in an effort to satisfy AI-energy demand.

Sam Altman, CEO of Open AI, publicly backs OKLO as a company capable of contributing cheap and green energy to the tech industry.

And in October, OKLO spiked 240%* to make new all-time highs.

The AI-energy sector is starting to take off. Don’t get left behind!

 

*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:

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