3 Penny Stocks to Add to Your Watchlist This Coming Week
With a new month of trading for penny stocks and blue chips, there is a lot for investors to consider. The most crucial aspect for trading penny stocks is understanding what is going on in the stock market and how to take advantage. This involves having a well-thought-out trading strategy and the ability to execute it flawlessly.
When trading penny stocks, always remember the golden rule: buy low and sell high. In order to find good deals on penny stocks, you’ll need to do your research and look for companies that are undervalued and ones that could have upcoming catalysts. This could be a new product launch, a partnership announcement, or FDA approval. When these things happen, the stock usually sees a big price change in either direction. Timing is everything when trading penny stocks so make sure you are always monitoring the market closely.
Another important thing to keep in mind when trading penny stocks is to never trade with emotion. This is something that many new traders struggle with as they get too caught up in the excitement of the market. It’s important to remember that you are investing your hard-earned money so always make sure you have a plan and stick to it. There is no such thing as a sure thing when trading penny stocks so don’t let greed or fear get the best of you. So, with all of this in mind, let’s take a look at three penny stocks to add to your watchlist this coming week.
3 Hot Penny Stocks to Watch Next Week
- Camber Energy Inc. (NYSE: CEI)
- Endo International Plc. (NASDAQ: ENDP)
- Imperial Petroleum Inc. (NASDAQ: IMPP)
Camber Energy Inc. (NYSE: CEI)
Camber Energy is a penny stock that we have discussed numerous times over the past few months. And, if you’ve traded penny stocks in the last year or two, you’re likely familiar with the company. This is due to the fact that Camber Energy is a notorious meme stock. That means that it is likely to move in large amounts based purely on speculation.
While this is not ideal for long term investors, it is a positive for those looking for short term gains. The most recent news from the company came on May 24th. On there 24th, it announced that it is no longer at risk of being delisted from the NYSE American. This is a major deal for the company and something that investors have been fearful of for the past few months. So, with all of this in mind, will CEI be on your list of penny stocks to buy or not?
Endo International Plc. (NASDAQ: ENDP)
Another penny stock that has seen substantial movement in the past few weeks is ENDP stock. And on May 26th, we saw shares of ENDP stock shoot up by more than 20% at EOD. This substantial gain reflected a bullish turnaround from its major losses only a few days prior. And when we covered it on that day, we noted just how volatile the company is.
With a penny stock like ENDP, it is crucial to understand your trading strategy. This means knowing whether or not you’re looking for a penny stock to buy in the short term, or one that could make long term gains. But, if volatility is something you’re interested in, ENDP stock could be worth adding to your penny stocks watchlist this coming week.
Imperial Petroleum Inc. (NASDAQ: IMPP)
Recently, we’ve seen a sizable amount of bullish interest in energy penny stocks. And while IMPP has been quite volatile, it has also benefitted from this. There are a few reason why the energy industry is seeing so much positive momentum right now. But, the most obvious is due to the high price of oil and gas.
Following the onset of war in Ukraine, large sanctions against Russia caused a major shortage of fuel around the world. And although this conflict is not at top of mind right now for many investors, it is still going on and causing fuel price hikes around the world. Now, many countries have increased oil production as a way to combat this, but, we are still seeing the effects of this in gas prices. With some recent bullish momentum, do you think IMPP stock is worth buying or not?
Which Penny Stocks Are You Watching Right Now?
If you’re looking for penny stocks to buy, you need to know what to look for. There are a lot of things that go into finding the right penny stocks, but there are a few key things that you should always keep in mind.
While there is a lot of momentum with penny stocks, you don’t want to blindly follow the herd. Instead, you want to be able to pick out the stocks that have real potential and are trading at a discount. While it is tough to find penny stocks to buy, it can be profitable with the right skills on hand. Considering this, which penny stocks are you watching this week?