Howdy traders, it’s Matt here.
Bryce sent out the watchlist yesterday …
But he forgot a key runner.
It spiked on September 26, but the price is still consolidating.
Stocks that trade sideways after a spike: Keep them on the watchlist.
I’ve got an eye on the breakout level. This thing could push higher any day.
- It’s a biotech.
- The biotech sector is red hot in 2023.
- The float is only 5 million shares.
- The low supply of shares helps the price spike higher when demand increases.
- It’s following key support and resistance.
- Stocks that follow levels are easier to trade. They follow patterns more cleanly.
There’s no guarantee the price will spike on Monday.
But you better start watching it before things heat up.
Here’s what you need to know …
Soleno Therapeutics Inc. (NASDAQ: SLNO)
On September 26 the company announced positive clinical updates about its treatment for Prader-Willy Syndrome.
As well as $10 million of financing secured, with the potential for another $50 million.
The stock promptly spiked 580%.
If you don’t know what Prader-Willi Syndrome is… That doesn’t matter.
The point is: This crappy little penny stock did something good and it’s stirring up hype. We can trade the hype. But don’t believe in the company.
Most penny stocks fail.
The price took a bit of a gut punch on October 2 when the company announced a public stock offering of 3.4 million shares. But so far, prices are still trading above support…
The best way to profit is to use solid trade strategies during periods of volatility.
“AI Weatherman” Uses Strange Forecasting System to Predict Stock Moves
They call this new tech “The AI Weatherman”…
Because it can forecast the future moves of stocks like a weatherman would predict weather…
…With downright scary accuracy…
How does it do it?
Well, it’s all thanks to a unique stock scoring system unlike anything I’ve ever seen before…
SLNO could push higher after this period of consolidation. That means I’m watching for a breakout pattern.
If you don’t make it in time for the breakout … Don’t worry: There will be trade opportunities after the breakout.
No matter what side of the volatility you’re on, make sure you’re trading with the right pattern.
I host live trading sessions every week to plan my setups and educate other traders.
And there are live streams every single day.
Make sure you’re prepared for this week’s opportunities. Add SLNO to your watchlist and tune in for a live trading session.
You read this far … Obviously you’re interested in the niche.
Gain experience without the market exposure.