Hey traders, it’s Matt here.
There are thousands of stocks moving every day. But only a handful will give us true opportunities to profit.
I included some examples from last week from traders in our community:
This coming week … We could see follow-up spikes from some of the stocks that ran last week.
But it depends on the price action.
Some of last week’s spikers aren’t in play anymore because the chart fell lower. And since we only want to trade stocks that fit our framework, I removed those stocks from my watchlist.
There are three tickers that I’m watching when the market opens on Monday …Â
Last Week’s Runners
All three of these stocks have a catalyst, a reason to push higher.
That’s your first clue when looking for new spikers this week. Focus on stocks that are spiking with bullish news!
We only want to trade the strongest runners.
Watchlist Stock #1: Indonesia Energy Corporation Limited (AMEX: INDO)
Last week, Iran launched 180 ballistic missiles into Israel.
There weren’ any casualties reported. But Netanyahu vowed a response to Iran’s attack. When President Biden was asked about an Israeli strike on Iran, the POTUS said he was “discussing” it with Israeli officials.
As a direct result of last week’s escalating tensions, oil prices shot higher. And it brought a lot of oil stocks with it.
INDO has a history of spiking, especially during times of conflict in oil-dense areas of the world.
Already since last week’s events, INDO spiked 100%*. And the price is still up … Take a look at the chart below, every candle represents one trading day:
INDO chart multi-day, 1-minute candles Source: StocksToTrade
If Israel makes good on its promise to respond, it could push oil prices even higher. And INDO could follow.
Don’t buy this stock at random! Random positions will give you random results. Instead, new traders are using AI to track this price action.
The artificial intelligence tracks our favorite patterns on the hottest stocks.
>> Use Our AI Trading Bot To Build Smart Positions On This Oil & Gas Runner <<
Watchlist Stock #2: EVgo Inc. (NASDAQ: EVGO)
On October 3, we learned that investment bank J.P. Morgan put EVGO on its catalyst watchlist.
J.P. is a massive investment bank, with over $3 trillion in total assets. The fact that EVGO, an EV penny stock, made it onto the watchlist is a big catalyst.
Since the announcement, the stock spiked 90%.
The stock has a good long-term chart too. It shows a run up in July and a multi-month consolidation before this most recent spike.
Take a look at the chart below, every candle represents one trading day:
EVGO chart multi-month, 1-day candles Source: StocksToTrade
Watch for follow-up moves this coming week as the news spreads.
Watchlist Stocks #3: Phoenix Motor Inc. (NASDAQ: PEV)
This stock was one of Friday’s hottest runners.
The price spiked 240%* after it announced a company record of $9.4 million in revenue and $14.8 million in net income for the first quarter of 2024.
This is BIG news for a literal penny stock (prices were below $1 before the announcement). Most penny stocks are crappy companies that don’t make any money … PEV breaks that norm.
This company holds real value, and Friday was just day one.
Take a look at the chart below, every candle represents one trading minute:
PEV chart multi-day, 1-minute candles Source: StocksToTrade
Again … Don’t buy shares at random on these runners.
The intraday volatility can still cause traders to lose money even if they pick the right stock.
Use AI to build smart positions.
The bot tracks the hottest stocks that follow our framework. You can use its trade plans to confirm your setup!
Cheers,
Matt Monaco
*Past performance does not indicate future results
