SRNE News....Key AreaThis could be an important area for SRNE right now. You've got Fibs and major moving averages all converging at the same point. News today:
"Sorrento Therapeutics, Inc. (Nasdaq: SRNE, "Sorrento"), a clinical and commercial stage biopharmaceutical company developing new therapies to treat cancer, pain and COVID-19, announced today the availability of a presentation on its corporate website to provide an overview of Sorrento’s proprietary mRNA vaccine development program for COVID-19."
The presentation can be viewed at: investors.sorrentotherapeutics.com
Funny to think this was just a penny stock not that long ago:
Sorrento Therapeutics Inc. (SRNE Stock Report) is actually still one of the popular stocks on Robinhood this month. Compared to where it was trading in March, 2020, SRNE stock is trading at levels night and day different this month. In fact, SRNE stock hasn’t been considered a penny stock since the end of June. The range has gone from lows of $1.55 to highs of $19.39 so far.
Quote Source & Read More: Are Penny Stocks Worth It? 5 That Hit It Out Of The Park In 2020
Stocktwits-predictions
VXRT Vol + Fibs = ?VXRT testing another familiar area of "traffic" from the last few months. This 786 fib area has remained a key level on the chart. More times than not, VXRT has failed to break and hold above it for any meaningful amount of time. But thanks to new covid cases and its recent business update, things are popping on Aug 9th. Though the volume isn't anything crazy above average, the last few days of consistently higher levels are something to watch closely as well.
" Another one of the former penny stocks to watch on this list is Vaxart Inc. While short interest isn’t the only focus right now, for VXRT, it has played a role. Based on the most recent data, the short float percentage is right around 20%. What’s more, the company’s recent business update helped shed a brighter light on a few things that were up in the air during more recent weeks...One of the topics discussed was the potential of Vaxart’s R&D and clinical development initiatives. CEO Andrei Floroiu said, “We strengthened our balance sheet, made major research advances, deepened our scientific knowledge, grew the company, and took the company closer to our goal of developing disruptive oral tablet vaccines that can have a material impact on the world’s public health.” ...Vaxart’s platform has shown progress in recent clinical trials. Its norovirus vaccine, built on the company’s VAAST platform, demonstrated the ability to boost immune responses in those who’ve been previously vaccinated with a Vaxart oral vaccine. In some cases, this vaccination period was more than a year earlier. The company also has a current trial study going on. This is of its S-Wuhan construct, which it expects to begin shortly. Obviously, with growing virus cases and the eventual rise of “cold and flu season,” this early progress has begun to gain attention in the market. "
Quote Source & Read More: 4 Penny Stocks On Robinhood To Watch This Week
BTC What Comes First?...Plotting some basic levels on BTC and using Fib Retracement to do it. Using lows from late November as the anchor, some interesting levels are apparent. First, the 50 fib has been a relatively clear pivot level on the chart where it was resistance at the end of 2020 as well as recently. Then you've got the 382 level to keep in mind. Now that BTC has broken above 50, the 382 would be the logical "next level" right? Well, hold your horses for a second because you've still got the 200DMA to watch....Look at the chart and you'll see that this has been resistance for the last few months and BTC tested it again this weekend. It was denied once again. So before anyone starts looking at the 382 level (which was an area of support during the big crypto breakout months), the 200dma could be the real level to watch for longs. We'll see what happens when the week gets started.
" The most prominent crypto penny stocks are the ones that mine cryptocurrency. These are few and far between, however, there are a select group of penny stocks to watch that engage in crypto mining. Next, we have the penny stocks that work with blockchain technology or are producing it. These could be tech penny stocks, software companies, or a combination of both.
Additionally, these companies could also be producing technology used in cryptocurrency mining. This includes machines used for mining Bitcoin, DogeCoin, Ethereum, and any others.
Lastly, we have the ancillary crypto penny stocks. This could be companies that have crypto holdings, ones that offer NFTs, or companies that are working to utilize blockchain technology in their practice. The level of involvement that a penny stock has in the cryptocurrency industry, should illustrate how large its correlation is to the frequent moves of crypto.
So the more involved a company is, the more likely it is to swing from crypto price swings. And, the less involved, the less likely it is to do so. In 2021, there is a whole list of penny stocks that work with cryptocurrency or blockchain-related tech. And knowing how and where to find them will be your greatest asset. Considering this, are these the best cryptocurrency penny stocks to buy now? "
Quote Source & Read More: Best Penny Stocks to Buy Now? 3 Cryptocurrency Companies To Watch
ETH Fibbin This Week?ETH has, by most accounts, crushed it over the last few weeks. Look at all those green days and this weekend seems to have continued this bullish trend. So after plotting a fib retracement using December lows as an anchor, it seems timely to look if there are any "important" levels to consider...and I think you'll see that there may be. Right now it looks like the 382 fib line is that level. It was a brief area of support during the monster rally earlier this year. BUT it has become a really sticky level of resistance overall. Look at the chart and you'll see that almost to the exact price, ETH was denied at the 382 fib line. This weekend it managed to break above the level and, so far, has held above it. What will be interesting is to see if 382 will get tested as a possible new support level. Ideally, longs may want to see some consolidation and accumulation around this level to potentially justify the firming up of a new, higher support level following the latest multi-week uptrend.
" Blockchain penny stocks have remained some of the most popular stocks to watch over the past year and a half. With the rise in the value of cryptocurrencies like DogeCoin, Bitcoin, and Ethereum during that time, many investors are looking for penny stocks that could benefit. Within the blockchain industry, there are a few specific niches that we can use to categorize the stocks on our watchlist...Considering this, let’s take a look at three blockchain penny stocks that are heating up right now. "
The surge in crypto could have crypto and blockchain stocks on the watch list at least during pre-market hours on Monday.
Quote Source & Read More: Blockchain Penny Stocks Are Heating Up, 3 Names to Know
BITF Trafic Hour...AgainBITF has gained some ground thanks to the interest and attention on crypto prices this year. After doing a fib retracement using last December's low as an anchor, some interesting areas have been revealed. First, the 50 Fib is a clear area of high traffic. While BITF has managed to trade at these levels, it hasn't had the best time holding above it for extended periods. Furthermore, the next level which is the 382 fib line appears to be an interesting level of resistance as BITF has broken to and above it just 3 times previous and had been denied all 3 times. Considering this "crypto weekend" bitcoin stocks could be first on the watch list on Monday. HOWEVER... follow-through on the cryptos themselves will be an important factor when it comes to the overall follow-through on the related stocks. Watch for any signs of premarket breakouts...sure...BUT once the market opens, THAT'S likely going to be the determining factor as to the general direction of stocks like BITF for the day/week in my opinion.
" Bitfarms announced its production update and that it will be reporting its Q2 2021 financial results on August 16th. In the production results, the company stated that in July it mined 391 new Bitcoin, which set a record for the year. At this rate, it is mining around 12-13 BTC per day. In addition, it deposited almost $70 million in Bitcoin through August 1st. 'We are proud to have added 96% of our 2021 year-to-date Bitcoin mined to our long-term inventory program. As we work to execute on our growth targets, we anticipate adding more Bitcoins to our balance sheet at a faster rate than we have in the first half of 2021.' CEO and Founder of Bitfarms, Emiliano Grodzki. One of the aspects that separates Bitfarms from others is its commitment to renewable energy. Because energy consumption is one of the largest issues with Bitcoin mining, the company states that it uses 99% green hydroelectricity. This is big news and something that other companies are working on as well. So if you’re looking for an interesting pure-play crypto penny stock, BITF stock could be worth keeping an eye on. "
Quote Source & Read More: Blockchain Penny Stocks Are Heating Up, 3 Names to Know
HUSN Merger Partner Lends A HandThe ink isn't dry yet but proposed merger partner Fr8Hub is lending a helping hand thanks to reporting strong growth for 3 and 6-month operating results.
Second-quarter of 2021 revenues were approximately $5.9 million, up 394% compared to approximately $1.2 million in the prior-year period. Revenues for the six-month period ended June 30, 2021, were approximately $10.7 million, up 294% compared to approximately $2.7 million for the prior-year period.
Levels: Plotting the retracement using September's low, some interesting levels started to present themself. The 618 level has continued as support for weeks/months now then higher levels you can see that the 382 area is a key level too. it's been a constant point of resistance that HUSN has been denied at many times. Now that it's broken above this during premarket on 8/5, the logical next level would be the 236 right? In my opinion, it could be important to see where the next level of support sets up...will it test and bounce back from the 382 level or is this a clear shot to the 236?
" Cloud technology, IoT, AI, and AR have all become hot topics among investors. Emphasizing the potential of this pending merger, this month, Hudson announced that FreightHub reported preliminary Q1 revenue of $4.8M. This was a year-over-year increase of 216% and a quarterly record for the company.
'We have started 2021 off strong, with enhancements to our technology platform and increased sales force driving the record sales for 1Q21 and the launch of our Fr8Hub University,' FreightHub CEO Javier Selgas commented. Furthermore, with digital technology as a backbone to the Fr8Hub platform, the HUSN stock price saw a strong spark... "
Now we wait to see if this merger finalizes or not.
Quote Source & Read More: Hot Penny Stocks To Buy Next Week? 3 Tech Stocks For Your Watch List
BTBT In Familiar Territory But It's Up To Bitcoin NextBTBT hasn't had the best first half of the year and for most of the second and 3rd quarters, the stock was slowly bleeding. But thanks to that 100MW collab announced a few weeks ago, AND thanks to bitcoin getting its act together, things changed. Now BTBT is back at an interesting level I found after plotting the retracement for Q2 and Q3 so far. The 382 fib line was a previous area of higher traffic. It was resistance, then support, and now resistance if you look at the last few candles (for now). Considering the action in crypto, however, this could be an important level to pay attention to while also monitoring the daily trading volume.
"A rebound in cryptocurrency, including Bitcoin and Ethereum, has related companies in the spotlight this week. Bit Digital is among the names of former penny stocks to watch. The company was one we first discussed late in July. At the time, Bit Digital’s news of a planned Bitcoin mining expansion with Digihost acted as the initial catalyst. The two will operate a 100 MW Bitcoin mining system for an initial 2-year term...Since then, a mix of speculation and crypto market momentum has helped carry BTBT stock much higher. In fact, since our July 26th update, shares have climbed from under $5 to over $12 this week. Traders also seem to be recirculating that last update, fixated on comments from CEO Bryan Bullett:
As previously announced, we anticipate significant purchase activity in the coming months, due to spot market dislocation in China and our unique access to that market. This agreement with Digihost secures a key component of activating this opportunity, and is expected to enable rapid deployment of newly purchased miners.
One of the things to keep in mind is that no matter how strong the momentum for Bitcoin stocks, the underlying trend in the cryptocurrency’s price tends to direct the market. We’ve seen big breakouts and quick breakdowns thanks to crypto volatility. So make sure to have that in the back of your head if BTBT stock is on your list right now."
Quote Source & Read More: 4 Top Reddit Stocks To Watch As Robinhood (HOOD) Stock Breaks $80
MVIS Levels after Q2 EarningsMVIS has been stagnant for a few weeks leading up to these latest Q2 results. The 786 fib line using Q2 lows as the anchor reveal some important levels and this 786 was one of them. It was a prior pivot point that more times than not ended up being support and/or a level of consolidation. It was only until recently that MVIS ended up failing to hold its consolidation trend and slid back. Now that ER are out, not only may 786 area be important but so might the 50 DMA which is right around $14.50 as of today. After hours on 8/4 MVIS briefly traded above that level but almost immediately got rejected. And to think that we were covering this as frequently as we were when it was still a penny stock. It has come a long way.
" There are a few reasons for the massive spike in MVIS stock over that time frame. One of those is its work on LiDAR sensors as well as microchips and various computer-related products.
Right now, there is a major shortage of microprocessors. If we consider basic supply and demand principles, we see that a massive gain for MVIS stock makes sense. However, its LiDAR sensors are also used in self-driving cars, which have become a major focus for Reddit stock investors in the past year or so. The focus from Reddit investors on MVIS is another example of retail traders pushing a stock with a high institutional short interest ..."
Quote Source & Read More: Former Penny Stocks That Exploded in Value, One Up Over 3,500%
Writing The SCPS?SCPS seeing another spike in trading volume late in the week (week of 8/1). After plotting out the fib retracement using "normal levels" and not ones from the crazy parabolic spike previously, you can see this 618 area has been a key support/resistance level. With the latest spark taking SCPS stock higher afterhours on 8/4, it so far managed to break back above the 618 area for the first time in weeks. No news, no filings, just social momo. But thanks to it being part of that "low float" crowd, it could be in the mix of possible "short squeeze stocks" that've grown in popularity. Looking at the deets...back in May there were a few fundamental developments to track:
" the company announced that it received FDA approval for an Investigational New Drug Application for its lead drug candidate, CpG-STAT3siRNA. Now, a Phase 1 trial for B-cell non-Hodgkin lymphoma will begin at the City of Hope. This is a well-known research and treatment center for cancer, diabetes, and other diseases.
More To Watch With SCPS Stock
As a newer company, Scopus has only been public since December of 2020. The company initially raised just under $3 million from its IPO debut. While this wasn’t technically a penny stock initially, shares hovered around $5 earlier this month. That was, until the news on May 24th. Since the announcement, SCPS stock has surged past the $17 mark. Furthermore, even though it’s a newer company, analysts have also begun following the company closely.
Benchmark Research started Scopus with a Speculative Buy rating as well as a price target of $20. Analyst Aydin Huseynov believes that the company’s STAT3 inhibitor gene therapy, CO-sTiRNA, has “a reasonable chance to show clinically relevant results” in recurrent and hard-to-treat aggressive Non-Hodgkin Lymphoma indications. Huseynov gave this outlook several months before today’s news and expected the IND submission during the second half of the year. "
Quote Source & Read More: 3 Biotech Penny Stocks To Watch That Analysts Are Bullish On Today
SOFI So Good?After plotting the Fib retracement using January's low as the anchor, some really interesting levels started to present themselves...mainly the 786 fib line. Each time it has broken down and tested it, SOFI bounced shortly after. Now that volume is beginning to gain ground, this could get interesting. On top of that you can see that the 618 fib line has also been a technical resistance level this year with SOFI getting rejected more times than it has managed to break and hold above it. Aside from the Social Sentiment being a factor, fintech as a whole has gotten play this year. That's not only for COVID helping advance "social distancing" stocks but also the fact that people just don't want to be bothered by going to a bank if they can do things virtually.
"In the second quarter of this year, the U.S. GDP shot up by around 6.5%, indicating that expansion is well underway following the onset of the pandemic. Right now we have to consider the effects of the Delta variant on a reopening economy. In line with this, investors should understand what this means for stocks across the board. With the tech industry, investors remain bullish on the potential impact of the pandemic. As we saw early on in the course of Covid, many tech stocks were able to benefit greatly. The increased need for new tech products and better work-from-home/educate-from-home offerings created a highly bullish environment for the tech industry."
Quote Source & Read More: 3 Tech Penny Stocks To Watch In August 2021
Had To Dig Deep For Technical Levels - PRTSPRTS has been on a great run. They just added Icahn Auto SVP to the team too. I think the move toward automotive lately is a good sign for companies like PRTS. But given that fact, the momentum has to slow sometime, doesn't it? It's been on a great run since April. I just hope the company doesn't get carried away with raising new money, etc. like so many other penny stocks have in the last few months.
" Craig-Hallum also set a target price of $4 for the stock. Soon enough, there was a rally in the stock. However, this isn’t just an overnight penny stock to watch. Shares of U.S. Auto have been on the rise since mid-October. Around that time, the penny stock traded under $1.50 a share but has since jumped to highs of $2.78 this week...U.S. Auto has begun building its leadership team stronger. Most recently it appointed Icahn Automotive SVP David Morris as Chief Merchandising Officer. What will this mean for the future of U.S. Automotive moving forward?" <- I agree with this question.
SOURCE: 5 Penny Stocks To Watch Before Next Week; 1 Up 720 % Since December
Can SNCA Manage To Break Above Previous ResistanceGreat news and all but can SNCA pull from a technical perspective ?
"The patent is for the “Transplantation of human neural cells for treatment of neurodegenerative conditions.” Could this be the next step in developing its NSI-566 treatment? Why I say this is because the treatment is specifically designed around neural stem cells. This is developing as things just began to unfold later in the afternoon. However, it could become one of the penny stocks to watch this month."
Source: Are Penny Stocks Profitable? 4 Names To Know Now
US SILICA ready for a big bounce?The chart speaks for itself. Just bounced on a support support near all time lows, while the business itself is still performing stellar.
Indicators looking good; small bounce from this point looks good, etc.
Some beautiful trades possible from this point.
Also! Definitely check out my two posts on the DAX index here below.
