Investors have managed to make amazing returns by investing in penny stocks. Some people may think that it’s impossible to find that “diamond in the rough”. Short story short, it’s not.
There are so many online tools that can help you find penny stocks to buy. For instance, if you are day trading penny stocks, you may want to utilize scanners. Things like above-average volume, irregular price spikes, and big news can all be topics to scan for.
However, while finding stocks has become easier, making a profit on them is still no cakewalk. Any trader should keep a close eye on the market and read up on the latest developments.
They should also come in with a game plan before trading. It helps maximize profits and mitigate losses. With this in mind, here are 3 penny stocks to watch that have made big moves this week:
Penny Stocks to Watch: Cell MedX Corp. (CMXC)
Kicking things off this morning is Cell MedX Corp. (CMXC Stock Report ). Cell MedX is a healthcare company that develops therapeutic products that enable patients to have more control over their health. The company does this through its eBalance technology. This technology allows patients to manage their diabetes symptoms using a biosignal device.
The company’s stock has been on fire over the last 5 trading sessions. It is up 47% and its most recent trading session had a massive surge of volume. This move was due to some recent penny stock news. Cell MedX announced that it recently had its eBalance trademark approved by the European Union. It is currently waiting for the trademark’s approval in Canada and the United States.
Thanks to this, positive sentiment has built in the market. As you can see, CMXC is no stranger to big moves. Earlier in September, this penny stock exploded to highs of nearly $1.70. After pulling back, CMXC stock has begun to show signs of life this week. Over the last few days, the stock has managed to rally 47%. Can it continue?
Penny Stocks To Watch: KinerjaPay Corp. (KPAY)
This next company has been compared to the “mini-Paypal” of Asia. KinerjaPay Corp. (KPAY Stock Report ) is a technology company focused on online digital payments and eWallet services. The company has over 208 million internet users and this number continues to grow thanks to all of the services KinerjaPay provides.
The company recently announced that it has negotiated a $25 million non-recourse credit facility with its local bank. This was negotiated with Gabriel Capital Ltd. which also subscribed to $200 million of KinerjaPay’s preferred stock. This news on October 23th helped propel KPAY stock price 184% during the trading session. Furthermore, the company traded with 11 times its average volume. Can this continue this week or are shares set to pull back?
Penny Stocks To Watch: Cellect Biotechnology Ltd. (APOP)
The final company on this list is looking to be one of the main players in the regenerative medicine space. Cellect Biotechnology Ltd. (APOP Stock Report ) is driven to become the main provider of technology to companies that are producing stem cells. The ultimate goal of the company is to help create the ability to make stem cells inexpensive.
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Cellect Biotechnology recently had a 1:5 reverse split and a change in the ADS/ordinary share ratio from 1:10 to 1:20. This prompted the stock to gap up over 41% during premarket trading hours on October 24th. In addition to this move, during the trading session on the 23rd, Cellect’s stock price gained 28.5% on an abnormal amount of trading volume.
Shares continued higher on Thursday and it will be interesting to see where everything levels out by the end of the week. For now, APOP stock has climbed significantly over the last few trading sessions