Even if you haven’t been in school for a long time, September can feel like a new beginning for many of us. So if you’re going to invest in penny stocks and learn more about technical analysis, there’s no better time to rock your portfolio and gain fresh knowledge. We hope that the following transactions will help you inspire you in building your investment education.
Some of the settings described below may not be relevant or complete at the time of reading this article. Perform your own due diligence. Many of the stocks mentioned here were also discussed in the Peter Leeds newsletter. Peter may own some of the shares of the investment mentioned, in which case that fact is clearly demonstrated. Penny stocks are notorious for their volatile nature.
MedAvail Holdings, Inc. (MDVL)
MedAvail Holdings, Inc. (MDVL) has fallen by about 65% compared to August, after the results for the second quarter were clearly mixed. However, as of the end of August, it appeared that a reverse hammer candlestick had been formed. This will be a bullish signal that stock prices may rise again. It is my opinion that MDVL may be a good swing trading candidate, as well as the Relative Strength Index (RSI) (and actually a decent balance sheet and earnings figures) of 21.88.
Cellectar Biosciences, Inc. (CLRB)
Cellectar Biosciences, Inc. (CLRB) witnessed a white Marubo candlestick pattern at the end of August. This is a good sign for shareholders in September. Also note that the signal is paired with strong trading volumes and is on an upward trend in the short term (after a 45% loss in the last six months).
Borr Drilling Limited (BORR)
Oil stock Borr Drilling Limited (BORR) is on the move, rising 13% as of the last day of August, with a relative amount passing through the roof. Combining this with a company oscillator and a moving average pointing to a moving average (according to TradingView data), BORR looks like a winner.
Casper Sleep Co., Ltd. (CSPR)
The Casper Sleep Inc. (CSPR) 27.77 RSI is a major sign that stocks are oversold, and therefore may see a backlash from currently depressed levels. So does that mean that surrender is finally here? Now, given all the persistent negative topics around the name (including rumors of bankruptcy), it’s hard to say. But with a price tag of less than $ 5 at the time I wrote this report, the CSPR is definitely worth a look.
Acer Therapeutics Inc. (ACER)
Acer Therapeutics Inc. (ACER) oscillators and moving averages (according to TradingView data) are currently sending clear buy signals. Equally positive, at the time I wrote this analysis, white Malvoz candlesticks were appearing on Acer’s charts. That said, this latter pattern is not underpinned by as strong a trading volume as I would like. Step on here carefully.
Penny stocks are volatile and can cause catastrophic losses. The price levels in this article are fictitious and do not represent purchase recommendations or investment advice. Keep in mind that it is your responsibility to make trading decisions through your own skilled analysis and risk management.
Peter Leeds is the author of several books, including the international bestseller “Penny Stocks for Dummies”. He and his team also publish a newsletter dedicated to the selection and analysis of penny stocks and the popular YouTube channel Peter Leeds Penny Stocks.