Does Your List Of Penny Stocks Have These Names On It?
Finding the best penny stocks to trade can be a fitting task for anyone. You’ve got plenty to think about too. Not only are you having to consider the potential rewards but also the risks involved. We’re not talking about blue chip stocks here. We’re talking about highly volatile, lower-priced stocks that fluctuate much more dramatically in price in a short time frame. While broad sector moves can impact these stocks under $5, they aren’t the driving force in most cases.
Each company has its own potential catalyst and due to the lower liquidity in many of these stocks, the swings in price can rapidly swing. This is one of the biggest attractions to penny stocks. Since traders can leverage smaller sums of money for larger percentage changes, you don’t need a large account to make money with penny stocks.
How To Find The Best Penny Stocks To Watch
So where should you begin if you’re new to trading? Well, even if you’re not new, a list of penny stocks is a good place to begin. I like to make a larger list and then as I do my DD (due diligence), that list will get smaller, and certain penny stocks meet or don’t meet my criteria.
Maybe you begin with high volume penny stocks trading at or above a certain threshold of volume. Then you boil that down to a certain sector and finally, you might look at certain chart patterns. On the other hand, maybe you shift your focus to a list of penny stocks with news. Now, I will be the first to say that not all penny stocks on your final list will end up working out.
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Some might fail, some might see shorter-term moves, while others might rally for days/weeks. In any case, my point is to have a strategy going into your trade and using a list of penny stocks can keep you focused. With this in mind, here’s a quick watch list for the first full week of October.
Penny Stocks To Watch: Walcott Resources Ltd.
Walcott Resources Ltd. (OTC:WALRF Stock Report) (CSE:WAL) is one of the newer silver penny stocks to watch this quarter. If there’s one thing we know, gold stocks have brought attention back to precious metals. However, silver may actually be the shining star. Year-to-date, the price of silver is up roughly 34%, nearly 10% higher than gold’s year-to-date levels.
What’s more, is that silver’s application beyond a store of wealth is quite evident in industrial applications. For this reason, investors have sought out silver stocks in 2020. Similar to gold, however, silver penny stocks tend to thrive greater than their higher-priced counterparts when precious metals prices are climbing.
While Mexico has long been known as a top silver producing country, the untapped potential could truly rest within 3 countries. According to data from Statista, Peru, Poland, and Australia are the top 3 countries holding the largest silver reserves in the world.
What To Watch With WAL/WALRF Stock
Walcott is taking Australia head-on with a specific focus on a primary silver asset in New South Whales – the Tyr Project. High-grade zinc-lead-tin mineralization has already been identified. Walcott plans to re-open two historic silver mines with conservative inferred resource estimates and many high-grade surface mineral occurrences up to 4,710 grams per ton of silver (g/t Ag).
Tyr is located in the New England Orogen, a significant mineral province and home to a variety of mineral deposits. Furthermore, extensive zinc occurrences near New Century Resources’ Century Mine could also present potential for Walcott, specifically. Considering this is the early stages for Walcott, there’s likely much more to look for as the quarter unfolds. Additionally, Walcott has just begun trading in the U.S. Prior to this it was only trading in Canada.
Penny Stocks To Watch: ChromaDex Corp.
ChromaDex Corp. (CDXC Stock Report) has been trying to battle back from its recent sell-off period. Since late-August, CDXC has steadily declined in price, finally reaching lows of $3.82 last week. However, at the start of this week, CDXC stock appears to be back on the rise once again.
The company focuses on aging-related nutraceuticals. As such, it has also made sure to keep COVID-19 in mind as well. Addressing things like recovery time reduction is where ChromaDex turned its attention to. On Tuesday, the company announced study results that showed its nutritional protocol plus standard of care reduced recovery time in COVID-19 patients by almost 30%.
What To Watch With CDXC Stock
“This clinical study on nearly 100 subjects resulted in significantly speedier recovery time for COVID-19 patients and builds upon the existing research,” said ChromaDex Chief Executive Officer Rob Fried. “There are currently 11 published human clinical studies showing the safety and efficacy of NR in various indications and several dozen more in the works including studies specifically focused on COVID-19.”
Its flagship ingredient, NIAGEN® nicotinamide riboside is sold directly to consumers as TRU NIAGEN®. According to the company it’s backed with clinical and scientific research, as well as extensive IP protection. Will Tuesday’s update mark the firm turnaround for CDXC stock in October?
Penny Stocks To Watch: Sunworks Inc.
Sunworks Inc. (SUNW Stock Report) is definitely not a stranger to our lists of penny stocks to watch. Back in June, we started looking more closely at the company. Most recently, SUNW stock has turned heads for similar reasons. Within the last few weeks, we’ve seen this penny stock fly to highs of $8.50 from under $1 at the end of September. After the vacuum drop we see from so many of these parabolic moves, SUNW stock appears to have found itself in another uptrend. However, this time it has extended for the last 4 consecutive days.
Sunworks Inc provides photovoltaic based power systems for the agricultural, commercial, industrial, and residential markets in California, Oregon, Texas, New Mexico, and Nevada. The company hit the radar as renewable energy stocks and solar stocks specifically took the spotlight.
What To Watch With SUNW Stock
One of the big points of focus recently has been with regard to its pending merger with The Peck Company (PECK Stock Report). Furthermore, the solar penny stock has also benefited from a surge of interest following better earnings from leading solar companies like JinkoSolar (JKS Stock Report). Compound this along with traders searching for the next low float penny stock to find and here we are. Something to watch closely with stocks like SUNW is trading momentum. While volume is bullish, things are obviously exciting but if/when it dries up, that could post a sell-off risk. Keep this in mind if SUNW stock is on your list this month.
Penny Stocks To Watch: Northern Dynasty Minerals Ltd.
Northern Dynasty Minerals Ltd. (NAK Stock Report) is another one of the penny stocks that has experienced a more consistent uptrend during recent weeks. After dipping to around $0.60, NAK stock has managed to climb back by nearly 100%. It also looks like it’s also begun testing a major moving average. Over the last 2 days, the penny stock has tested its 50-day. Average while volume has also remained at above-average levels compared to that of late September.
We’ve touched on this company multiple times throughout the year. The biggest focus for traders is the future of Northern Dynasty’s Pebble Project in Alaska. The company has been heavily scrutinized for potential environmental implications that could be present with this project.
What To Watch With NAK Stock
While the company has refuted any risks, there were other issues including ones that resulted in the former CEO resigning. I’ll let you do your own research on that. However, from a stock perspective, NAK shares have held an uptrend for the last few weeks. It hasn’t felt too much pressure since late August.
Earlier this month the company issued its technical report for the Pebble Project. According to the company, in light of the report, after Pebble, the most significant deposits of Rhenium in the world exist at copper porphyry mines in Chile. This obviously presents a unique situation for Northern Dynasty. However, speculation has begun to build as The US Army Corps of Engineers is expected to issue a final Record of Decision for the Pebble Project this fall.
Pursuant to an agreement between Midam Ventures LLC and Walcott Resources Ltd., Midam has been paid $225,000 for a period from August 17, 2020, to October 30, 2020. We may buy or sell additional shares of Walcott Resources Ltd in the open market at any time, including before, during, or after the Website and Information, to provide public dissemination of favorable Information about Walcott Resources Ltd.