Pennystocks to watch for October.
Updated: Oct 3, 2020
Does Pennystocksclub13 offer a newsletter!
If you are looking for a free penny stocks watchlist newsletter/blog, look no further! Pennystocksclub13 will be posting watchlists periodically with easy to read format. You will get a simplistic list that will cut out all the unnecessary information.
What kind of traders is this information for?
At Pennystocksclub13, the idea is to provide novice and advanced traders with simple to understand watchlists that will include suggestions on how to trade them for possible profit. Keep in mind that Pennystocksclub13 does not guarantee success and that all the information in this article and website is for entertainment and educational purposes only. Trading in the market is risky and you should never invest based on others' opinions. Any trade is at your own risk!
Now that you know about our disclaimer let's talk about how this will give you an edge. Pennystocksclub13 will be suggesting trade ideas based on technical analysis that will include some brief information on each particular stock and why it's on the watchlist.
What are the best stocks right now?
With TSLA been the hottest and most popular stock recently, the EV sector has provided traders with great trading opportunities. With the increasing demand for EVs, there will be different components that will be needed to keep these vehicles moving. For example, EVs will require batteries to run with so someone will have to manufacture them. It is for that reason that (NASDAQ: CBAT) and (NYSE: LAC) will be stocks that might be in high demand.
Important levels in LAC
LAC has almost doubled in the past 5 days. After making that kind of gains, I would suggest buying a pullback to the $11 level with a starting position. I would suggest adding to your position if it breaks and holds over $12 in anticipation of a break over the 52 week high at $13.
LAC chart provided by Thinkorswim.
CBAT breakdown
CBAT seems to have established support at the $2 level and has a 52 week high of $3.75. A starting position is suggested below the $3 level. If it breaks $3 and holds, I would suggest adding to your position around the $3.50 level with the anticipation of a new 52 week high.
CBAT chart provided by Thinkorswim.
How do I protect my account if the trade fails?
It is important to note that you should have an exit plan to protect your account against significant losses. At pennystocksclub13 it is recommended that traders risk a maximum of 5% per trade.
How do I know when to take profits?
It is a general recommendation for all members at pennystocksclub13 to take profits if the stock is up 5-10% or higher.
Disclaimer: Results may not be typical and may vary from person to person. Making money trading stocks takes time, dedication, and hard work. There are inherent risks involved with investing in the stock market, including the loss of your investment. Past performance in the market is not indicative of future results. Any investment is at your own risk!