FRIDAY MORNING MOOLAH WITH CJ
I’ll be on Money Morning LIVE at 10:30AM ET, live on air to help you trade the last day of the week.
There’s plenty to discuss so please come prepared with any questions or concerns you want me to address.
PENNY STOCK HIGHLIGHT: NEWH
The clean energy trade is going strong.
Today we’re going to capitalize on this sector’s strength with Newhydrogen Inc (OTCMKTS: NEWH).
The company is creating technology that will reduce the cost of using hydrogen.
Goldman Sachs estimates this tech will usher in a $12 trillion clean-energy economy.
And right now we’re going to play it to mirror this stock’s rally from last month.
LET’S GET TECHNICAL
NEWH is checking off all the boxes.
The 50-day moving average is bullish.
In fact, shares broke above the 50-day MA, which is why we’re moving in on this stock.
Not to mention, the Bollinger bands are at the smallest ratio they’ve ever been since August 20.
Last month, in September, NEWH rocketed abruptly as soon as it broke the top Bollinger band, up 75%.
It’s important to note that the 20-day MA is below the 50.
Although this isn’t something I usually look for, this happened last month as well.
In fact, shares are showing a carbon copy of September and we’re going to capitalize on a potential 75% gain.
ACTION TO TAKE
Buy NEWH for a limit of $0.03. Add a 7% trailing stop.
If this goes up to $3.50 or 4 cents, we could just let this ride up to a nickel but we’ll judge it as we go.
Until next time,
November 05 2021