Top Stocks to Watch Today: Friday, May 7

top stocks to watch for Friday

Earnings season rages on for the top stocks to watch today. 

Volatile low floats, short squeezes, and earnings winners are a noticeable theme with some of the recent higher-priced runners.

That’s why you must be able to recognize patterns — not just on a chart but in the markets.

Focus on trends that are working. Take advantage of the moves, then rinse and repeat.

And when you notice the market changes and certain patterns or catalysts no longer work —  adapt.

Take what the market gives you and always be grateful.

Here are the top 10 stocks to watch today…

10 Stocks to Watch for Friday, May 7, 2021

Remember, this is a watchlist, not a ‘must trade’ list. I’m not always right, and I don’t trade everything I watch. That’s why you should never blindly follow or buy anyone’s stock picks — even mine.

But there’s always something you can learn.

Watch out for patterns that fit your strategy. Always have a trading plan for every trade. Here are some resources to help you get started:

If you’ve been following my blog and lessons, you know I love to trade low-priced stocks. (To learn more about trading penny stocks, get my FREE guide here.) 

The stocks on this list aren’t penny stocks. Even if I rarely trade higher-priced stocks, their movements can still affect stocks within my price range. So to me, they’re worth watching.

If you want to know which penny stocks I’m watching…

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For even more stocks to watch, check out these blog posts that I update weekly:

Now, here are 10 top stocks to watch today…

Stocks to Watch Today #1: WW International, Inc. (NASDAQ: WW)

WW reported first-quarter earning results in after-hours on Wednesday.

Yesterday the stock gapped up by $1 per share. It continued climbing most of the morning. The stock has a history of multi-day runs. Traders can watch for continued upside but watch resistance near $37.

 

Stocks to Watch Today #2: Biofrontera AG (NASDAQ: BFRA)

BFRA is in the hot biotech sector. The company released April preliminary revenue yesterday in premarket.

The stock had a morning spike and traded higher than average volume. But it has a history of not holding its gains. Traders can watch for a panic dip buy opportunity.

 

Stocks to Watch Today #3: Avid Technology, Inc. (NASDAQ: AVID)

AVID is a tech company that develops platforms for audio and video editing. It announced first-quarter earnings on Wednesday in after-hours.

Yesterday the stock had a huge gap up and a breakout over $24.50. Traders can watch for continued upside.

 

Stocks to Watch Today #4: BioCryst Pharmaceuticals, Inc. (NASDAQ: BCRX)

BCRX is another company that reported first-quarter earnings in premarket yesterday.

The stock had a gap up and a big move. It broke out over resistance of $12.75. Traders can watch for continued upside and a retest of the recent highs around $14.

 

Stocks to Watch Today #5: SemiLEDs Corporation (NASDAQ: LEDS)

LEDS is another tech stock. But this one has no news. It has a low float and has been squeezing for three days with its biggest move yesterday.

It broke out over $9.38 yesterday but couldn’t hold its highs. It’s likely getting overextended. Traders can watch for a dip-buy opportunity into a big panic.

 

Stocks to Watch Today #6: Lexaria Bioscience Corp. (NASDAQ: LEXX)

LEXX is listed in the packaged foods industry, but its business isn’t what you’d expect. The company’s technology supposedly increases the body’s ability to absorb medicines and vitamins, which can mean lower dosing.

Yesterday the company announced research and development study results from its CBD absorption tests.

Read the full press release here.

The stock traded record high volume following the news. It’s another low float stock with fewer than five million shares. Traders can watch for a dip-buy opportunity and continued upside.

 

Stocks to Watch Today #7: Nemaura Medical Inc. (NASDAQ: NMRD)

NMRD was on yesterday’s watchlist after it moved big on news that it received a large order for its sugarBEAT® device. It’s a glucose monitoring device for Type 1 and Type 2 diabetics.

It was on watch for a dip buy and potential bounce. But instead, the stock gapped up and had a morning spike before fading. That’s likely because the company released more news…

It announced “progress with the German regulatory authority (GBA) to achieve reimbursement for its sugarBEAT® device.

“After initial review, the GBA has determined that sugarBEAT does not require GBA review and will go directly to the National Association of Statutory Health Insurance Funds (GKV-Spitzenverband) for a listing on the durable medical catalog.”

Read the full press release here.

Despite the news, the stock had its first red day yesterday. I’m watching for a dip-buy opportunity into a big panic only. But listed stocks trade choppier than OTC stocks, so panics and bounces aren’t as clean. It’s also a low float stock, so it can have volatile moves.

 

Stocks to Watch Today #8: Image Sensing Systems, Inc. (NASDAQ: ISNS)

ISNS is another tech stock.

It had a huge gap up on April 30 after it filed a Form 8-K noting management approved a dividend and a stock buyback program.

Read the Form 8-K here. (Learn how to read SEC filings here.)

The next day the stock squeezed from roughly $6 to $11.50. It’s another low float stock with fewer than five million shares.

The company also announced first-quarter earnings on May 3 after hours. The stock’s consolidating between roughly $7.50 and $9. Traders can watch for a breakout over $9. If it breaks down, watch for a dip-buy opportunity into a big panic.

 

Stocks to Watch Today #9: Brooklyn ImmunoTherapeutics, Inc. (NYSE: BTX)

BTX is another low float stock in the hot biotech sector.

The stock started running in late April and hit new 52-week highs after it acquired a license and hired a new CEO. The stock had a massive short squeeze from roughly $30 to $80 in two days.

For the last three days, the stock has been red. Traders can watch for the stock to find support and a potential bounce.

 

Stocks to Watch Today #10: Sally Beauty Holdings, Inc. (NYSE: SBH)

SBH is another earnings winner. It reported its second-quarter earnings yesterday in premarket.

It’s a larger-cap stock and not as volatile as some of the other stocks on today’s watchlist. But yesterday it traded higher than average volume and had a breakout over $23.50. Traders can watch for a dip-buy opportunity and continued upside.

 

How I Find Stocks to Trade

There’s no big secret behind how I find stocks to trade. I always tell students to look at the biggest percent gainers on StocksToTrade.

Full disclosure: I helped develop StocksToTrade. I also invested in it. I wanted a tool to help me search specifically for the low-priced stocks I love to trade. I’m proud of it, and I truly believe this platform offers the top tools for traders to find and research stocks of any price.

STT has built-in watchlists, scans, beautiful charts, and all the indicators active traders need. It also has a social media feed and a news feed. And it includes broker integration so you can trade right from the platform.

penny stock checklist

I use it every day to find the stocks that fit my strategy — like volatile penny stocks with a catalyst and high volume.

And I credit the StocksToTrade Breaking News Chat feature for a huge portion of my over $1.1 million in profits in 2020.* The guys who run this service crank out breaking news FAST.

Try a 14-day trial of StocksToTrade with Breaking News Chat for only $17! 

Frequently Asked Questions About Stocks to Watch Today

What Are the Best Stocks to Trade as a Beginner?

My favorite stocks to trade are penny stocks. I think they’re a great way for beginners to learn the trading process with a small account.

Can You Get Rich Trading Stocks?

Don’t come into trading with a get-rich-quick mindset. Trading is a marathon, not a sprint. It can be a lucrative career but it takes years of hard work and dedication to learn the nuances of the market — which is what I teach.

How Much Money Do You Need To Start Trading Stocks?

Only start trading with money you can afford to lose. You can start small. In fact, I teach traders to focus on education first to learn the process, then slowly scale up over time.

Is Trading Stocks Risky?

All trading is risky. No trader is right 100% of the time. That’s why I keep my losses small by cutting losses quickly.

Conclusion About Top Stocks to Watch Today

Remember to only use this list of stocks to watch as a guide. Dig deeper into why these stocks are on my watchlist. Use all my trading resources to build your trading education.

I want you to become self-sufficient.

I’m just training wheels. And I’ve had the privilege of working with many top traders in my Trading Challenge. It’s a proud moment for me when they prove they don’t need me anymore. They take my lessons and strategies and make them their own.

If you want to get the same education as those top traders, apply for my Trading Challenge. I don’t accept everyone. Honestly, I don’t have time for anyone who only wants to be spoon-fed ‘hot’ stock picks.

I teach the trading process, mindset, strategies, and patterns to help my students find their own way in the markets. If that’s your goal as a trader, apply today.

What do you think about these top stocks to watch today? Do you see potential trades? Let me know in the comments … I’d love to hear from you!

Disclaimers

*Please note that these kinds of trading results are not typical and do not reflect the experience of the majority of individuals using our products. From January 1, 2020, to December 31, 2020, typical users of the products and services offered by this website reported earning, on average, an estimated $49.91 in profit. This figure is taken from tracking user accounts on Profit.ly, a trading community platform. It takes years of dedication, hard work, and discipline to learn how to trade. Individual results will vary. Trading is inherently risky. Before making any trades, remember to do your due diligence and never risk more than you can afford to lose.

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