3 Penny Stocks On Robinhood & WeBull To Watch Right Now
What a week it’s been for penny stocks and we’re only 2 sessions in. This week, we’ve already seen some massive breakouts, huge continuation trends, and even the controversial parabolic drop. If that’s any indications for what’s to come, it’s time to buckle up and get ready for a wild next few days.
This week not only marks a holiday week but the last week of May. My biggest question right now is will we see the typical trend? If you’re not familiar, there’s an old stock market saying. It goes: Sell in May and go away. Essentially it symbolizes a time where people take off to holidays, family vacations, and sip the nectars of sweet success they’ve had trading stocks.
However, given the crazy year we’ve had already, what will that actually mean for this time of year? June in just a few days away and volatility in the stock market today continues to top itself. The last few months of volume have been some of the biggest seen in the last 52 weeks. So, if “sell in may and go away” is going to hold true this year, are people just trying to cram everything into a few months before “going away”? In my opinion, not likely. For starters, where are you going to go? Sure, quarantines are easing but we certainly are nowhere near a “normal” lifestyle. Given this, my guess is that the stock market will be active into the summer months. With this in mind, it’s important to stay smart about trading. Volatility and speculation are driving all markets right now. So when it comes to penny stocks, volatility could equate to even larger swings. Your goal as a trader is to be on the winning end of that swing.
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