‘To the Moon’ Watchlist: June 04, 2022

by | Jun 4, 2022 | Watchlists

Happy Saturday. It’s Bryce.

These markets are a trading teacher’s dream. Lately, I’ve been studying and teaching more than I’ve been taking trades. It’s just the best time to study in a while.

Because those A+ setups that led to my breakout success are fewer and far between right now. 

But when they do appear, I pounce. I’m prepared and I’m well-rested. That last part is a huge improvement from 2020/2021.

And after all my hard work paid off, I find it meaningful to train the next batch of traders in the fine art of conquering the stock market. 

Thankfully, there are a few hot tickers to keep your eyes on right now … Let’s hope the markets heat up on Monday and give these babies some extra oomph!

Nutex Health Inc. (NASDAQ: NUTX)

Nutex is a tech-focused health management company that runs hospital and population health divisions. 

The stock spiked all the way up to $40 back on April 4 following the announcement of a merger completion and listing on the Nasdaq.

Recently, it’s started to run again and broke past an early May resistance point of $10. During its multi-day run over the last few trading sessions, it formed resistance at the $11 mark.  

It hit around $11 at the open on Thursday and failed to break out. On Friday, it closed up 0.76% at $9.28. 

It needs to hold a breakout past $11 if it’s gonna make a meaningful move to the upside.

SIGA Technologies, Inc. (NASDAQ: SIGA)

SIGA is a pharmaceutical company focused on the development of antiviral smallpox treatment. But that’s not the only pox they work on.

Their TPOXX treatment has European approval for use against smallpox, monkeypox, and cowpox.

SIGA hit its most recent high on Friday, May 27. News of monkeypox outbreaks around the world sent the stock up 41.91%, closing at $13.68.

It tried to reclaim that high this past Thursday but closed at $12.87. On Friday, it closed down 9.71% at $11.62.

It would need to break past $14 and hold that level for a convincing breakout. If it manages that on Monday, with trapped shorts in the play, it could be a stellar mover.

Energy Focus Inc. (NASDAQ: EFOI)

EFOI is an energy company based in Ohio. They recently announced that they’ll be showcasing an array of products at LightFair 2022 at the Las Vegas Convention Center on June 21-23, 2022.

When a company shows off its wares, it can drum up more interest in its business. Making the announcement in advance can turn into a ‘buy the rumor, sell the news’ type of situation, bringing traders out before the company even makes it to the show.

On Friday, EFOI hit resistance at the $1.80 level, a level it hadn’t hit since early March. It closed up 48.65% at $1.65.

On Monday, it would have to take out Friday’s high of $1.83 to make a meaningful move. If it does that, then $2 and above are possible.

Conclusion

Choppy markets are here to stay … for a while at least. And I think that’s a good thing. You can’t work out the same group of muscles every day, you have to alternate your workouts. 

The same concept applies to trading. If you’re a long-biased trader, you gotta strike while the days are green. When days are red, you study, study, study.

That’s why I created Small Cap Rockets. It’s the best place I know of for traders to gain insights and experience, and create rock-solid trading strategies they can execute when opportunities pop up. Join a community of traders who are ready to take their trading careers to the next level!

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