‘To the Moon’ Watchlist: April 30, 2022

by | Apr 30, 2022 | Watchlists

It’s Bryce here, back at you on a Saturday… 

It’s times like these that make me glad to be a trader. The benchmark indexes took a massive nosedive yesterday. 

Investors were not impressed with Amazon.com, Inc.’s (NASDAQ: AMZN) earnings results. Its stock sank around 15% putting it on track for its worst day since 2006. 

Furthermore, the Nasdaq posted its worst month since 2008, declining by more than 13%…

Is it really possible to find winning longs in the market?

Short answer: Yes.

Let me show you what I’m watching for Money Monday.

What I’m Watching

Here are my favorite tickers for the week ahead…

Indonesia Energy Corp Ltd (NYSE: INDO)

Indonesia Energy Corp is a former runner that seems to have started finding a bottom. The energy company ran in early March when oil stocks skyrocketed due to escalation in the Russia-Ukraine war. 

It’s had a few good spikes on its way to sideways choppy action for the past couple of months. This is that critical point where a stock can choose to break down or break out again. 

Oil continues to be an important commodity as the European Union attempts to wean itself from its considerable dependence on Russian oil. 

INDO hit the $20-$21 range on Friday but then broke down. It needs to break past that range with convincing volume for a potential run-up to $25. 

Forge Global Holdings Inc (NYSE: FRGE)

Forge Global Holdings is a portfolio that provides investor solutions in private equity and other types of securities. 

It’s kind of funny when traders pick a trading company to trade. It feels so meta (not the metaverse). 

FRGE has been on a multi-day run that reminds me of LGVN’s former moves. And it closed up 15.88% on Friday at $18.90. 

There’s been no company-specific news on this ticker recently though. Keep an eye on its press releases page in case that changes. 

If it breaks the $20 key level, I think this ticker could go to $25 or $30. 

Vaxxinity Inc (NASDAQ: VAXX)

Vaxxinity is not another Covid vaccine. But what a cool name, right? The company announced on Thursday that it completed enrollment in the second part of its Phase 1 clinical trial of UB-312. 

The investigational UB-312 vaccine candidate seeks to treat Parkinson’s disease and “other conditions such as dementia with Lewy bodies (DLB) and multiple system atrophy (MSA).”

$8 is a resistance level for this one so if it breaks that level on Money Monday, I think it could keep flying to $10 or even $15.  

Keep in mind though that VAXX already rose 84.22% on Friday with very heavy trading volume. One could call that overextended. It would need to sustain that volume this coming week –– perhaps on the back of another great news catalyst –– in order to keep flying.   

Conclusion

Just because the major indexes are down doesn’t mean you have to have to be. Traders always look for the diamond in the rough. And if we’re lucky, we find multiple diamonds in one rough.

It can help when you know what to look for, and you have experienced traders on your side helping you find it. 

Thankfully, our mentor Tim Bohen just introduced the Limited Edition Whitelist. It’s the place to get priority access to the new secret algorithm that can detect one of the hottest trading patterns before it takes off. Plus tons of other valuable perks. 

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