Matt here.
Happy Sunday everyone.
I hope you’re as excited to start another trading week tomorrow as I am. We’re in a time of crazy opportunity…
Don’t believe me? Check out all the action Bryce got into on Friday in his weekend watchlist.
As for me, there’s one special digital coin I’ve been raving about that’s gone to the moon!
Whether you’re trading stocks, digital coins, or NFTs, it feels like there’s magic in the air right now.
So let’s get to the action in this weekend’s watchlist…
Matt’s Picks — May 01, 2022
Here are the top three tickers I’m watching…
ApeCoin (Bored Ape Yacht Club)
ApeCoin is going full-on ape right now, and man have I been on board for the ride. I can’t stop raving about this one.
As far as I’m concerned, NFTs and NFT coins are the new penny stocks. They’re where I want to be right now.
ApeCoin is the Ethereum-based digital currency issued by the makers of the Bored Ape Yacht Club –– Yuga Labs’ most popular NFT project.
Part of the rise can be attributed to this weekend’s sale of 50,000 plots of virtual land on Otherside –– Yuga Lab’s upcoming metaverse platform.
My hunch is that there will be a slight pullback after the sales are complete this weekend. But that could present an amazing buy-the-dip opportunity.
Nutex Health Inc. (NASDAQ: NUTX)
NUTX is an American for-profit health care company that’s been on the move for the past week. It’s up over 100% for the past five trading days.
It closed at a high of $40 back in early April on news that it completed a merger and got listed on the Nasdaq.
It came way down from that high and bottomed out at the mid-$4 key level. Currently, it’s trading sideways from an April 26 high of $13.31.
It saw a 15.72% jump on Friday, closing at $9.42. The key resistance level to look at right now is $10. If it manages to break $10 with strong volume, it could retest its recent high in the $13 range.
Redbox Entertainment Inc. (NASDAQ: RDBX)
It’s baaack. Redbox is the entertainment rental company that dropped 60% in early February after an 8-K filing to the SEC showed that the business was slowing down. Yeah, anyone could’ve told you that.
But it just jumped out of a deep base on Friday when it passed the $5.33 mark.
The CFO recently stepped down. Usually, that would shine a negative light on a company. But the recent interest likely doesn’t have anything to do with its future.
At this point, RDBX is heavily shorted and sometimes traders love to take out shorts when the situation is too obvious. So a catalyst to keep this one going could be retail chat rooms pumping it up.
As long as it stays above the mid-$5 area, it could march up towards $10. It closed up 69.41% on the day at $5.98. Let’s see what Monday brings!
Conclusion
Sometimes things have to go down before they can go up. And it looks like that’s what’s happening in the stock market right now.
Traders see all the benchmark indexes turning red and say “to heck with it, let’s create our own opportunities!”
That’s the spirit that led Tim Bohen to create the Whitelist. It’s a brand new community limited to only 5,000 traders. Keeping it small allows him to offer tons of valuable perks that can have a big impact on your trading skills. Plus, advanced access to the new proprietary algorithm that can detect one of the most valuable trading patterns all the pros use. Check it out here!