I’m SO glad to be back at the trading desk. There’s been plenty of material for my Small Cap Recap lately.
If you’ve missed them, you should definitely catch up (they’re all on YouTube here). Be sure to check out my latest: “How To Maximize Your Winners.” You’ll see the strategy I recently adopted that allows me to adjust my risk level while I’m still in a trade!
Even though the indexes are choppy, certain stocks are taking off. Let’s take a look at a few now…
What I’m Watching
Here are the tickers keeping me glued to the screens…
Longeveron Inc (NASDAQ: LGVN)
Longeveron is the kind of stock that makes long-biased traders happy. It’s gone up more than 100% in the past week.
On Friday, I was looking for an afternoon VWAP break after the morning gap-up and fade, and I got it. But I think there’s still room for it to run again on Monday.
What spiked this stock in the first place? The company published a peer-reviewed study of its Phase 1 trial results in The Journal of the Alzheimer’s Association.
The study showed that its Lomecel-B drug was safe and effective for participants with mild Alzheimer’s disease.
Dr. Mark Brody said: “What makes this study unique is the use of a cellular therapy that may potentially target multiple pathological features of Alzheimer’s disease simultaneously.”
On Monday, keep an eye out for any breaks over $16.
Insignia Systems Inc (NASDAQ: ISIG)
Insignia manufactures point of sales store signs and other promotional advertising media for packaged goods and retailers.
The next time you go to a store for alcohol and see a poster of attractive people in an envious vacation locale, you can probably thank ISIG for the #vacaygoals.
But why is ISIG in play? There’s no significant company-specific news out. In fact, it hasn’t had a major press release since its Q4 2021 results in early March.
The chart looks good though, and it’s a former runner. Given the price action, many traders seem to expect ISIG will release good news soon.
$12 is a key level for this stock, which it broke past it on Friday, closing at $12.69. A move past $13 could take it up to $14, $14.50, or maybe even $15.
GameStop Corp (NYSE: GME)
Meme stocks are back in play. It’s nice to say hello to old friends. You may have seen my recent AMC Entertainment Holdings Inc (NYSE: AMC) play on Small Cap Recap. If not, watch it now…
Now on to GME. GameStop recently announced a stock split. If shareholders approve, GME shares will split from $300 million to $1 billion. The company would issue the split in the form of a dividend.
The vote won’t come for several weeks. But look for further news releases leading up to the big day.
Lately, there’s been pretty strong resistance at the $190 range, so it’d have to break past that level to catch my interest again.
Conclusion
It feels like the good old days with so many stocks in play again — and in so many different industries, too. Sometimes, it’s hard to keep up.
Thankfully, I don’t do it alone. Matt and I both rely on the StocksToTrade platform to keep us in touch with the latest hot runners, breaking news, and more.
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