I’m holding a nice basket of penny stocks headed into Monday’s session.
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The oversold scan (fish hook) is producing very few results, which would be expected given the bounce we’ve seen in the IWM since Christmas.
Breakouts (rockets) on the other hand are abundant and where I’ll continue to allocate my funds aggressively.
GOGO – Big upside range to $5 and plenty liquid, GOGO is one of my top picks this week with earnings a few weeks out. Shares are hovering just above the demand line of $4 making for a tight stop loss and big upside range to $5 ahead.
LC – Range to $3.50 isn’t good so this isn’t my favorite because seems like 1:1 risk / reward here but it’s a clear pattern break which could mean $4 is more likely than $3.50. Earnings a few weeks out, maybe some short cover runup into the call.
FNJN – Base pattern pivoting at the supply line or $3. If that range breaks it’s shown the ability to trend in the past and has big upside range between $3.50 – $4.
UXIN – Only fish hook I’m considering Monday but it’s been heavy in the base against a rising market so I’ll be very disciplined when trading it. In play above the low $3’s with range to $5 – $6 if it hooks.
ANFI – Clear breakout potential at $1 with big upside range to $1.50 before the supply line. This stair-step pattern has made 3-legs and sure looks like a 4th is looming.
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