FRIDAY’S EVE TRADING AT 10:30AM EST
It’s Thursday, aka Friday’s eve – the night before the weekend.
Which means it’s time to make some spending money.
I’m going live at 10:30AM EST on Money Morning LIVE to give you actionable trading advice that you can use immediately.
My goal is to help you make enough money today, so that you can spend it on dinner and drinks tomorrow.
Fancy restaurants and pricey wine awaits, join me in 30 minutes and let’s take advantage of the opportunities the market gives us this morning.
Click here to go to the live room…
PENNY STOCK HIGHLIGHT: LWLG
I’ve had my eyes on Lightwave Logic, Inc. (OTCMKTS: LWLG) for over a week now.
Shares had moved above their 50-day moving average but then fell down below their lower Bollinger band.
It seemed like LWLG would go as low as $4… until an interesting technical move happened.
The $4 level drew volume from the market and the stock regained support.
Which means right now we have a prime opportunity to move into this stock and make a predictable profit.
This short-term opportunity could lead into a much larger breakout.
Here’s why this faltering stock has become an official Penny Hawk stock.
LET’S GET TECHNICAL
Like I mentioned earlier, buyers began scooping up LWLG at the $4 level.
After gaining this newfound support, shares are breaking above their 20-day moving average.
This is why this short-term opportunity could lead to a huge breakout.
The $8 to $8.91 gap provides a nice 11.4% return – and we’re going to take it.
But if it breaks above its 50-day moving average at $8.91 this will mean that the stock could break above its top Bollinger band.
The last time this happened, LWLG went parabolic.
Which is why today, we’re going to parlay this 11.4% gain into a potential 50% return.
The charts and data are drawing in more buyers, and now is the time to position ourselves for this profit.
ACTION TO TAKE
We’re entering this trade with a $10 target in mind but make sure to enter a 7% trailing stop as soon as you open this position.
This will protect us from a rejection by the stock’s 20-day moving average, which could result in a re-test of the $6 price.
And don’t forget to check the Breakout Watchlist for all the other stocks on my radar.
But you know… if you’d like me to email you whenever we need to quickly adjust one of our open positions… I encourage you to ask about Night Trader.
It’s the most elite trading research service that I offer.
Whenever I need to make an urgent adjustment… or make a quick exit out of a trade… I send my Night Traders an email telling them exactly what to do, and why.
You may even have seen the NT crew talk about some of our trades in the Money Morning Live chat…
Not only do I send emails… I’m also in touch 24/7 via the private Night Trader chat room.
If you want minute-by-minute updates, you’d be hard-pressed to find someone who sends you as many as me.
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Until next time,
August 26 2021