Hey traders, it’s Matt here.
There are a lot of stocks in play right now. Our small-account niche is on FIRE.
Hopefully you read Bryce’s analysis yesterday …
- WiSA Technologies Inc. (NASDAQ: WISA) and INVO BioScience Inc. (NASDAQ: INVO) are still in play.
But I like a different stock for Monday’s top profit opportunities.
On Thursday, this stock announced a forthcoming merger worth $4 billion. At the time, the stock was valued at a $29.7 million market cap.
$29.7 million turned to $4 billion due to a merger … That’s a HUGE bullish catalyst. And the stock already spiked 310%.
The recent price action suggests that the share price could push higher.
My #1 Watch
AGBA Group Holding Limited (NASDAQ: AGBA) announced the $4 billion merger news on Thursday April 18 during premarket.
And we got an alert from Breaking News before the market opened for regular hours. See the chart below, every candle represents one minute:
AGBA chart intraday, 1-minute candles Source: StocksToTrade
Attention: After the first day of volatile price action, the stock closed red on the day.
Sometimes these small-account setups only spike for a single day …
But on Friday we watched the price action creep back toward the breakout level. Take a look at the chart below, every candle represents 1 minute:
AGBA chart multi-day, one-minute candles Source: StocksToTrade
This recent bullish consolidation is a hint that the price could push higher.
And to build a safe position, we need to pay attention to the price action from Thursday and Friday. The chart shows key areas of support and resistance that we can use to trade.
Support and resistance lines are maybe the most important trading tool that we use as traders. Don’t worry, it’s fairly intuitive.
There’s a Tim Sykes video below with more detail …
Low-Float Factor
Bryce spoke yesterday about the two main factors pushing stocks higher right now.
- A float below 10 million shares was one of the factors: AGBA has a float of 15.8 million shares.
It’s over our 10 million share goal. But not by much. Understand, this is an inexact science.
We can still see HUGE spikes on stocks with a float of 15 million shares. It’s all comparative. For example, the biggest stocks in the market, like NVIDIA Corporation (NASDAQ: NVDA), have a float exceeding 2 billion shares …
In conclusion, 15 million shares is close enough to our goal of 10 million shares or fewer. We can work with that. Especially since …
- There’s a good catalyst.
- The chart shows consolidation.
- Monday mornings are notoriously volatile.
There WILL be an opportunity to trade tomorrow. I’m watching AGBA for a perfect setup.
And as Bryce said yesterday … I’ve also got Breaking News open on my laptop.
I’m waiting for the next piece of juicy news to spike a stock in our sector. Thanks to the BN tool, I plan to be there first.
Cheers,
Matt Monaco
“Make this unique 2024 election-year trade”
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It’s why he’s sharing this unique election-year trade, for free.
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