Making A List Of Penny Stocks To Buy Right Now? 4 To Watch

Are These Penny Stocks To Trade Or Fade This Week?

This week saw another surge of momentum to kick things off, with penny stocks helping to lead the charge. News from Moderna sparked an early move as traders digested the latest vaccine news. According to Moderna, its vaccine candidate was 94.5% effective. What’s more, is that Moderna’s data showed its vaccine is stable at refrigerator temperatures for 30 days. It can be kept in freezers over the longer term and doesn’t need the special facilities required compared to the Pfizer vaccine.

Penny Stocks & Hot Sectors

So what are some sectors traders are monitoring right now? Reopening stocks or “ epicenter stocks “ have been the center of attention with things like tech taking a back seat earlier this month. However, it looks like there could be a slight rotation back into things like tech, biotech, and energy at the start of the week.

Penny Stocks To Buy [or avoid]: Marathon Patent Group, Inc.

Bitcoin and blockchain stocks are hot right now. Shares of Marathon Patent Group ( MARA Stock Report) have experienced a sharp uptick in activity over the past few months. The company has established itself as a top name among crypto miners. Marathon has big plans heading into 2021 as well.

Penny Stocks To Buy [or avoid]: Mogo Inc.

While Mogo Inc. ( MOGO Stock Report) isn’t one of the “blockchain stocks” per se, the company does focus on Financial Technology applications. This week, MOGO stock shot higher after news that the company acquired digital payments technology company, Carta Worldwide. The deal adds a B2B payment platform targeting the global payments marketplace. Considering that over 85% of Carta’s revenue is from international transactions, it could be a good move for Mogo.

Penny Stocks To Buy [or avoid]: Canaan Inc.

Another fintech penny stock, Canaan Inc. ( CAN Stock Report) has seen a great November so far. Since the beginning of the month, shares of CAN stock have climbed from around $2 to highs of over $3.80 this week. This move has been fueled by sector strength for the most part. The last time Canaan actually released news was in September with news of a $10 million share buyback program.

Penny Stocks To Buy [or avoid]: FuelCell Energy

Another one of the hot industries right now is energy. Specifically, we’re seeing a jump in interest in names dealing with alternatives to standard oil and gas. FuelCell Energy ( FCEL Stock Report) has been on our lists of penny stocks to watch for weeks now. Shares have surged from around $2 to highs of over $4.50 this month alone. The surge was helped by growing intrigue stemming from the likes of Plug Power ( PLUG Stock Report), which has established itself as a name to know in fuel cell energy production. It’s also interesting to note that PLUG was also trading as a penny stock earlier this year.

“This project represents a key step in FuelCell Energy’s path to commercialize its high efficiency solid oxide electrolysis technology.”

While this type of surge is incredible, it might also pose risks of an exhaustion-type move. Tuesday’s gap up saw FCEL stock trading over 14% higher than its previous close. So if it’s on your list of penny stocks to watch right now, be aware of this technical set-up. The last time FCEL tested these levels was back in April of last year. It ended up failing to break higher and ultimately slid back soon after. Will that be the case this time around?

Entrepreneur, Podcaster, Marketer& Content Maniac — Not Investment Advice. This account is affiliated w/ Midam Ventures Review Disclaimer