Trading penny stocks can be a rollercoaster of emotions for investors. Some days you will get massive and quick gains and then celebrate. Other days you will get hit with a bearish slap in the face.
This is the power of penny stock volatility; rapid moves that can make or break a trade. This is why it’s important to conduct fundamental and technical analysis on companies, decreasing the chances of losing money.
It is all about finding the right penny stocks to buy. For instance, if a penny stock had a strong trading day the day before, it might continue that trend. This also applies for longer time frames where some penny stocks have gained 50% or more in a very strong month. It’s all about consistency, volume, and penny stock news. Here are some penny stocks to watch this week:
Biotech Penny Stocks To Buy (or Sell)
Penny Stocks To Watch: Immuron Limited (IMRN)
The first biotechnology company making huge moves on October 2nd is Immuron Limited (IMRN Stock Report). This company’s primary focus is oral immunotherapy products for infectious diseases, immune disorders, and cancers. As of now, Immuron has 7 treatment products undergoing clinical and preclinical trials.
During early premarket hours, this biotech penny stock was flying off the rails increasing over 40% multiple times. The stock started trading at $2.68 and is currently now at $3.57. This move is due to news claiming Immuron has received US Department of Defense funding worth USD $3.7 million. The money will be used to develop and test a new therapeutic treatment to fight Campylobacter.
PennyStocks To Watch: Cancer Genetics Inc. (CGIX)
The next biotechnology company on the list has a different focus in mind, oncological products and services. Cancer Genetics Inc. (CGIX Stock Report) is attempting to change cancer patient treatments to lower costs and improve efficacy with precision medicine.
Cancer Genetics had a big day in the market yesterday. So strong in fact, that investors might be looking to catch a further continuation move on October 2nd. The healthcare penny stock put in a yearly high in terms of trading volume and rose nearly 50%. This strong buying pressure could propel the stock further and lead to a strong October for Cancer Genetics’ stock price.
Tech Penny Stock To Buy (or Sell)
Penny Stocks To Watch: Inpixon (INPX)
The last company on this list is Inpixon (INPX Stock Report). Inpixon is a tech company driven to advancing Indoor Positioning Analytics. The company developed its own Indoor Location Data Platform which can detect and position all Wi-Fi and Bluetooth devices.
This tech company is looking to ride the hot wave of its trading session on October 1st. The stock put in a solid move upwards, gaining nearly 17.5% with above-average trading volume. The tech penny stock has traded sideways for quite some time, this could be the spark that elevates Inpixon’s stock. Inpixon recently partnered with IDENTOS for marketing advantages as well as joint sales.