Five New Stocks on the Breakout Watchlist
There are three things that tell us when a low-dollar stock is about to breakout:
A shift in momentum…
A bullish technical crossover…
And an increase in volume.
These are the criteria that will land a stock on our Breakout Watchlist.
On Friday, we added Western Magnesium Corp. (OTCMKTS:MLYF) to our Watchlist.
And breakout it did – over the course of the day, this low-dollar name rallied 40%.
We may not have had a position in this stock, but that’s just one example of the incredible, fast-moving profit power behind the penny stocks we’re highlighting every day.
Today, we have five new names to add to the Watchlist:
Want to see where these names stand today – and check out the rest of the penny stocks we’re watching?
And now, onto today’s highlight…
Penny Stock Highlight: MDCE
Today, we’re taking a closer look at Medical Care Technologies Inc. (OTCMKTS:MDCE).
Headquartered in Hong Kong, this $0.01 healthcare company opens and operates multiple children’s integrated health and wellness centers in China.
The stock first got a kick in early May of this year, jumping 100% over the course of the month as the stock went from $0.01 to $0.02.
That’s right – this stock moved only a cent, yet could have handed investors a 100% profit.
And now, it’s doing it again.
Let’s dive in…
Let’s Get Technical
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Volume is on the rise again as well, which indicates the “crowd” is back on the radar – which is important, according to my 10 Commandments of Trading Penny Stocks.
A BB break, rising MA, and increasing volume? This stock has all the makings for a breakout back towards a target of $0.03.
And that move will translate to a 100%-plus jump in the stock – a stock-level increase that you won’t catch in the NYSE or the Nasdaq.
Mark Your Calendar: The Primetime Trading Summit
But if you like live trading, then I have great news for you. My colleagues and I are about to kick off the biggest live trading event of the year.
Register now for Money Morning LIVE’s FREE, one-time event: ThePrimetime Trading Summit!
It’s all happening at 7:00 PM ET on Thursday, August 12. And you can get on the list now. You don’t want to miss the biggest LIVE trading event of the year – REGISTER HERE and score all of our exclusive pre-show warmup freebies.
I’ll be back tomorrow with another penny stock to share,
August 09 2021