Tag: Candlestick Pattern

Bitcoin’s (BTC) bounce brought attention back to crypto penny stocks. Even stocks without news are moving with sector momentum. But the bounce may not last long… Bitcoin’s trading around resistance at $40,000. Where it goes from here could determine the direction of crypto stocks that follow the sector leader closely. If it breaks out, we could see more upside and volume in these stocks. But if it breaks down, it could mean more downside and consolidation. I’ll watch and react to the market. I never try to predict it. Prepare for any scenario with a trading plan. And if your ideal setup isn’t there, don’t trade. Here are the top 5 crypto penny stocks to watch now... Top Crypto Penny Stocks to Watch First, here are the top OTC crypto stocks I’m watching this week… And here are a few listed stocks I’m keeping tabs on... Keep in mind that some crypto penny stocks only run when big tokens like BTC make new highs or recover from a big price dip. Note that this list is only a watchlist. These are in no way a recommendation to buy or trade. Always do your own research. And only trade a stock if you have a plan and it fits your setup. Crypto Penny Stock #1: Axis Technologies Group, Inc. (OTCPK: AXTG) AXTG is a shell company that recently announced it’s entering the crypto space through two acquisitions. On July 27 the company announced it acquired TiENCHAT, a digital currency payment platform. And T8 Exchange, a cryptocurrency exchange platform. Read the full press release here. The stock soared after the news. I missed the initial spike and bought it on a dip. I bought 15,000 shares at $0.142 and sold at 15 cents for a small gain of $120.* Crypto acquisition news is spiking OTCs lately. But those spikes don’t always last. AXTG traded lower for two days after the news. I’ll watch it for a potential bounce, ideally with another catalyst. Crypto Penny Stock #2: KYN Capital Group, Inc. (OTCPK: KYNC) KYNC is a holding company for crypto and blockchain payments. Its payment gateway, Koinfold, allows businesses to accept cryptocurrency for online payments. The stock was on last week’s watchlist for a morning panic dip buy. But instead, the stock broke out and continued higher. The higher it goes, the more potential it has for a big panic when it eventually fails. It’s still on watch for a morning panic dip-buy opportunity. Crypto Penny Stock #3: ISW Holdings Inc. (OTCPK: ISWH) ISWH is a brand management company focused on crypto mining, renewable energy, and adult beverage companies. On July 27 the company announced it signed “a cryptocurrency mining hosting agreement (the ‘Agreement’) with Bitmain Technologies (‘Bitmain’), the world’s leading producer of cryptocurrency mining hardware and a leading global cryptocurrency mining firm.” The press release also states: “Further details related to this Agreement will be discussed in the near future.” And on July 28 the company announced receipt of $8 million in financing from RB Capital Partners to “develop its cryptocurrency mining and telehealth operations.” Read that press release here. The stock’s uptrending and the company could release more news in the future. But I hate to chase. I’ll watch for a panic dip-buy opportunity. Crypto Penny Stock #4: BIGG Digital Assets Inc. (OTCQX: BBKCF) BIGG Digital Assets is a Canadian crypto company. It develops blockchain technology and brokerage and exchange software. It’s another stock that returns to the watchlist from last week. I said, “If it can stay above $1 it could have more potential upside.” It held the $1 level and bounced. And on July 29 it had a multi-day breakout above $1.25. (Past performance isn’t indicative of future returns.) It’s not trading as much volume as I’d like. A news catalyst would be ideal to push it higher. But if the sector leader bitcoin (BTC) continues higher, this stock could ride the hype with it. Crypto Penny Stock #5: DigiMax Global Inc. (OTCPK: DBKSF) DBKSF is another Canadian crypto company. It provides artificial intelligence (AI) and crypto solutions to various industries in Canada. On July 28, the company announced it signed a collaboration agreement to expand into Hong Kong. The next day, the company announced it signed another agreement with a Korean company. The stock moved higher on the news but it trades low volume for me. I’ll watch for another news catalyst to potentially bring in more volume. See the Stocks I’m Watching I want to help you as much as possible, which is why I offer a NO-COST watchlist. Will you find crypto penny stocks on my list? That depends. I go where the hottest market action is. Subscribe to my weekly watchlist to see what makes the cut. I round up my top watches every week and send them to you. Use these stocks to study the trading patterns, catalysts, and price action. Then build a trading plan of your own. Know that I’m not recommending you to trade the stocks on my watchlist. There’s no guarantee I’ll trade any of these stocks. I’m simply WATCHING them for potential future setups. Never blindly follow alerts or hot picks. Ever. Do your own research. Your goal is to eventually become confident in your own trading plan. Conclusion When you’re looking for hot crypto penny stocks, keep in mind… These stocks tend to move together on sector momentum. Don’t jump into these stocks before the markets give you a reason. And keep your goals reasonable. Don’t go swinging for the fences. Aim for singles. Watch for major news in the cryptocurrency industry. These stocks probably won’t run without a catalyst. Learn to be patient and wait for your best setups to come to you. That’s what I teach in my Trading Challenge. If you want to become a self-sufficient trader, apply today. What’s your take on crypto penny stocks? I’d love to read about it in the comments! Disclaimers *Please note that reported trading results are not typical. Most traders lose money. 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. **Tim Sykes has a minority ownership stake in StockstoTrade.com.

Tag: Candlestick Pattern

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