It’s the start of a new trading week tomorrow, and it might be slow — the economy is starting to claw back, and many will be their summer vacations.
Right after the extended holiday weekend, things will probably kick into high gear and a lot of momentum stocks for me to potentially make money from.
For now, I’m going to remain patient and only look for stocks showing my favorite chart patterns.
On Friday, when I was looking at the scanner I use…
I found there were three stocks that caught my eye, and I want to reveal to you what they are… and why I want to keep them on my radar.
I’ve mentioned Marathon Patent Group Inc. (MARA) multiple times before. On Friday, I had MARA on my Monday Movers watchlist. (If you want to receive my watchlist of stocks I believe can gap up from Friday into the following week, find out how here.)
With MARA, I believe it’s in play above $2.30 for a swing to the low $3’s if it works.
With the stock making a move on Friday, I wouldn’t be surprised if it gaps up on Monday and continues.
MARA held the 55-day exponential moving average (EMA) and is starting to break back above some key levels.
If the demand actually picks up I think MARA could make a move to the low $3 area… and if it breaks above $3.50, I really wouldn’t be surprised if MARA gets to its recent high at $5.
This stock can move pretty fast.
This stock is considered a low-float. It’s only got 18.01M shares floating and an 8.09% short interest. That’s an indication there’s not a lot of supply out there… and if we do see bitcoin skyrocket, that would be a catalyst that can send MARA higher.
VivoPower International PLC (VVPR)
Next up, VivoPower International PLC (VVPR) is on my radar.
The stock exploded on Friday, and I want to keep an eye on some key levels in VVPR.
More specifically, the Fibonacci Retracement levels. After making such a massive move, I’m going to see if it holds at any of the key areas, which would indicate there’s support there and the buyers might step in.
Orchard Rx Ltd. (ORTX)
The stock is turning higher (after dropping below March lows) early in August. The stock is looking to break above its recent high right around the $7.35 area and with the moving averages turning higher…
It indicates ORTX might run higher and look to break above that $7.35 level. If it gets above there, I think it can make a move to $8.50, and above that… it can reach $10.
If you keep your eyes peeled and understand how to identify chart patterns…
I believe you can become a better trader, as well as equip yourself with some skills to identify momentum stocks BEFORE they move.