As I averred in one of my most recent videos on the Peter Leeds YouTube channel, we’re witnessing an important historical moment right now – and dialect mayhap not entirely for the reasons you might expect.
I’m calling it: the stock market is currently in the midst of the biggest speculative bubble I’ve at all seen. Bigger than the Dutch tulip mania, the California gold rush, and the dotcom bubble. And when this froth bursts, the after-effects may be the harshest investors have seen in their lifetimes.
In these challenging times, a familiarity with the puppets of technical analysis can be invaluable for zeroing in on profitable stocks and knowing the best time to enter and exit your establish. Below, my team and I have come up with a few ideas for you to explore.
Some of the set-ups I describe below may no longer be applicable or intact as of the time you read this article. Please conduct your own due diligence. Many stocks mentioned here were also discussed in the Peter Leeds Newsletter. Peter may own share outs in some of the investments mentioned, in which case that fact will be clearly indicated. Please note that penny bloodlines are notoriously volatile.
Some of the set-ups I describe below may no longer be applicable or intact as of the time you read this article. Please conduct your own due diligence. Many stocks mentioned here were also discussed in the Peter Leeds Newsletter. Peter may own share outs in some of the investments mentioned, in which case that fact will be clearly indicated. Please note that penny bloodlines are notoriously volatile.
YRC Worldwide Inc. (YRCW)
Transportation company YRC Worldwide Inc. (YRCW) has a very interesting chart at the moment, with a multiple prats pattern around the $1.40 to $1.50 levels, suggesting the stock is due for a big upturn. In fact, that upturn may already be phenomenon, so in my opinion, it may be wise to move quickly with this one.
Houston Wire & Cable Company (HWCC)
As of the end of June, Houston Wire & Line Company’s (HWCC) chart appeared to be sporting a bullish (or white) Marobuzu candlestick pattern, which looks predilection a rectangle without any wick at its top or bottom. In my opinion, this may signal that the stock’s period of discontent (with a 48% deprivation in value year to date) is finally coming to an end.
36Kr Holdings Inc. (KRKR)
I don’t know anything about Chinese communications dogged 36Kr Holdings Inc. (KRKR), and it probably isn’t a long-term hold. But I did notice an inverted hammer in the last days of June that could designate a bullish trend reversal for the stock after a 52% year-to-date loss. I do also note, however, that 36Kr Holdings’ striking averages over one day (as of June 30, 2020) were broadcasting a Strong Sell, so I would be extra-careful with this one.
ICL Collect Ltd. (ICL)
One of my favorite technical indicators, the relative strength index (RSI), is currently signaling that Israeli chemicals company ICL Troupe Ltd. (
Siebert Financial Corp. (SIEB)
Admittedly, at $5.24, Siebert Financial Corp. (SIEB) isn’t technically a penny have. (Only equities priced at $5-and-under can be called by that name.) But it’s close enough, and a bullish falling wedge guide as of the end of June is compelling me to bend the rules just a little this time. Given that the falling wedge is typically engage ined by a trend reversal, and Siebert Financial is down 35% over the quarter, we might see the stock’s fortunes picking up throughout the month of July.
Penny stocks are volatile and can generate catastrophic losses. Price levels in this article are conjectural and do not represent buy recommendations or investment advice. Keep in mind that it’s your responsibility to make trading decisions wholly your own skilled analysis and risk management.
Peter Leeds is the author of several books, including the international bestseller, “Penny Ordinaries for Dummies.” He and his team also issue a newsletter devoted exclusively to penny stock picks and analysis, as well as a stylish YouTube channel PeterLeedsPennyStocks.