Hope you enjoyed Bryce’s watchlist yesterday. We’re one day closer to market open today.
You may have noticed that my focus has veered away from small caps a bit. I’m still in that game, but I also continue to watch crypto and NFTs.
So while I’m sticking with small caps, I’m also sneaking in a little crypto I’ve had my eye on at the end of this list.
Let’s get to it…
Matt’s Picks — March 27, 2022
Here’s what I’m watching this week.
Clever Leaves Holdings Inc (NASDAQ: CLVR)
CLVR had a huge run-up in afternoon trading on Friday. It opened the day at $2 and closed at $3.84 for a 143% move to the upside.
What inspired that major move? The company dropped earnings results: it saw a 25% revenue increase and refined its strategic focus for its six key markets.
But was that really the catalyst — or are traders just excited about the vote to legalize marijuana at the federal level on the House floor next week? They could just be pouncing on any weed stock that looks decent. Tough to say.
Regardless, CLVR needs to break past resistance at the $4 level. If it does that, we could see another dollar or two of upside.
Mercurity Fintech Holding Inc (NASDAQ: MFH)
This is a volatile play. It saw a couple of high spikes in the $2.80s on Thursday and Friday but closed down at $2.58 into the weekend.
MFH is a fintech based in China. It specializes in bitcoin mining and other crypto-trading services for the blockchain.
No company-specific news or PR influenced the recent 69% spike. It’s possible a chat room picked it up, and it seems to run in sympathy with the crypto markets.
Given the uncertainty around this one, I’d wait and see if it can break the $3 key level. If it does that, I’ll believe that it means business.
Solana (SOL)
If you’re in my Crypto Rockets room (and you should be — more on that later), you know that I go off the beaten stock path a lot.
I recently traded SOL.
I believe in the project. The Solana Foundation blockchain is carbon neutral, and that’s a very tall order other cryptocurrency companies haven’t been able to meet.
So I wanted to add it to my ‘diamond hands’ portfolio for the long haul. But at the end of the day, I’m a trader through and through. When I saw that it was topping out in the low $100s, I decided to exit the trade.
SOL is well off its November 2021 highs in the $250 range and has been in a base for a couple of months, moving between the $80–$100 price ranges.
I’m keeping my eyes on it though, as well as other mainstream altcoins, for good dip buys. Sometimes securities will move in the same predictable range for a long time before making bigger moves.
Conclusion
The market’s seen some exciting plays lately, in all kinds of sectors. It feels like traders want more runs to happen — if the number of recent multi-day runners is any clue.
I don’t like to limit myself, though. I’m down to explore whichever sector, security, or asset is in play at any given time.
That’s why I started the Crypto War Room. It’s a great way to potentially diversify your trading routine. Yep, even traders have to diversify. We have to stay on top of the latest opportunities as they pop up. And that’s exactly what I help you do in the Crypto War Room.
Let’s go!