Matt here.
Happy Sunday everyone.
I’m still basking in the ApeCoin glow. As with any other play, it was a ‘sell the news’ kind of deal. Being in the right place at the right time can make a trader feel on top of the world.
When the markets are red, a trader has to find the diamonds in the rough. And Bryce did a pretty good job of that in his weekend watchlist yesterday.
I went on a scavenger hunt of my own on Friday. I think I found some good ones.
Will they play tricks on this bear market with some ninja green moves?
Let’s get to the action in this weekend’s watchlist…
Matt’s Picks — May 08, 2022
Here are my top three tickers to watch…
Northwest Biotherapeutics, Inc. (OTCMKTS: NWBO)
Northwest Biotherapeutics is a pharmaceutical company that develops immunotherapies against different types of cancer.
And it’s so close to breaking out past its October 23, 2020 closing price of $1.98 — a peak it’s been basing from since then.
It touched $1.99 on Friday but then succumbed to resistance, closing down about 1% for the day. But that’s not much of a pullback when you consider that it’s up 72% in the past five days (and up 137% in the past month).
Here’s what we need to see happen next week — a break above the $2.00 resistance level. If it breaks past $2.15, then it’ll also be over its 52-week high. NWBO will make a presentation on Tuesday, May 10. Let’s hope it’s the catalyst we need for a breakout!
Sidus Space, Inc. (NASDAQ: SIDU)
Sidus Space sells satellite services to corporations looking for access to space. Outer space, that is.
SIDU released a memorandum of understanding on Friday that sent the stock into space. It saw an intraday high of $4.50 before closing at $2.99 for a 51.78% gain.
SIDU will partner with Dhruva Space Private Limited to further the commercialization of its space technology and services. The two companies will collaborate on programs for both India and the U.S.
SIDU will need to break out past its Friday high of $4.50 to regain true momentum this week. $3.50 is a recent resistance level from mid-April, so if it breaks that, you could also trade from that level up to the $4.50 resistance point.
Redbox Entertainment, Inc. (NASDAQ: RDBX)
It’s still here. If you recall, Redbox is the entertainment rental company that dropped 60% in early February after an 8-K filing to the SEC showed that business was slowing.
Does anyone remember the word “duh”? I think it existed when DVDs were big…
RDBX is still hanging on as a short squeeze play. It stayed (barely) green on Friday, but I’ll take that over red any day.
It’s been trading sideways about halfway down from its May 2 closing price of $8.53. And it’s still up over 200% for the past month.
I would need to see a break past that $8.50 threshold to convince me it’s truly back in play. From there, $10 would be my price target.
Conclusion
Whether it’s a biotech firm, a dinosaur entertainment retailer that won’t go extinct, or an actual space company — there’s always a ticker ready to take off.
When a trader has the most up-to-date information and a top-notch scanner at their side, it can significantly increase their odds of finding the right plays.
When I trade, I use the StocksToTrade platform for those reasons and more. I haven’t found another software platform with as many bells and whistles that cater to a trader’s most valuable needs. There’s no junky bloatware. But there IS state-of-the-art design and proprietary algorithms that can help you find the best stocks in play!