Do you recognize the biotech penny stocks to watch on today’s list?
You might if you’ve been keeping up with these biotech blog posts. Some of today’s stocks have been on my watchlist over the past few weeks.
That’s why I always remind students to watch former runners and recent runners — they have the potential to offer more trading opportunities.
Because history doesn’t always repeat, but it often rhymes.
And that’s why I’m reminding students to trade safely in this bubble market. Be ready to adapt to market changes because this market won’t last forever … So go back and study history.
It’s more important than ever to cut losses quickly if a trade goes against you and never hold and hope a loser will turn into a winner. You might end up waiting for a bounce that never comes.
Always expect the worst from penny stocks and you won’t be disappointed.
Let’s get to the top biotech penny stocks list. I’ll show you what’s on my radar and why…
Top Biotech Penny Stocks to Watch
These are the top stocks on my watchlist. ‘Watch’ is the key word here. There’s no guarantee that there’ll be a trading opportunity. Remember, these stocks move FAST.
Before we get to my list of stocks to watch, here are a few of my top resources for penny stocks…
- If you’re new to penny stocks, start here with this FREE online guide.
- Ready to learn how to build your own stock watchlist? This post is for you.
- Discover how I find all the stocks on my watchlists here.
How do I find hot stocks? I use StocksToTrade every day. For me, it’s the best tool because I helped design it specifically for trading penny stocks. (I’m also an investor.) It has awesome charts, built-in scans, social media feeds, and so much more to help you do your research.
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Now, let’s get to the top biotech penny stocks to watch this week…
Biotech Penny Stocks #1: Novan, Inc. (NASDAQ: NOVN)
I’ve had NOVN on and off my watchlist for weeks. It started running after it announced it completed enrollment in its Phase 3 study of its topical treatment for molluscum contagiosum on February 1.
I’ll watch for a multi-day breakout over $2.59.
Biotech Penny Stocks #2: Ampio Pharmaceuticals, Inc. (NYSE: AMPE)
On February 1, AMPE announced early positive results from Phase 1 trial results of its treatment for respiratory inflammation caused by COVID-19. The stock has been uptrending since the news was released.
Yesterday, the company announced it will virtually present at The Microcap Rodeo Winter Wonderland Conference today at 2:30 pm EST.
I’ll watch for volume to come in, a breakout over $2.59, and a possible retest of its multi-month highs of $3.
Biotech Penny Stocks #3: AIkido Pharma Inc. (NASDAQ: AIKI)
Yesterday, AIKI announced it entered a letter of intent with another company to grant it the use of therapies to treat neuroinflammatory disease in cancer patients. Despite the news, it had a red day. I’ll watch for it to find support and potentially bounce.
Biotech Penny Stocks #4: Cannabics Pharmaceuticals Inc. (OTCQB: CNBX)
Yesterday, CNBX released the final results from its in-vivo study of its drug candidate in mice, for the potential treatment of colorectal cancer.
I’ll watch for the stock to retest its recent highs of 60 cents and for a possible breakout.
Biotech Penny Stocks #5: Acasti Pharma Inc. (NASDAQ: ACST)
ACST is a former runner. Last week it announced third-quarter financial results. I’m watching for a breakout over the high of $1.22.
Biotech Penny Stocks #6: Abeona Therapeutics Inc. (NASDAQ: ABEO)
Last Friday, ABEO announced new positive data from two of its Phase 1/2 trials. The stock traded high volume but couldn’t break out above the recent $3.79 high.
I’ll watch for it to bounce and potentially retest the recent high.
Biotech Penny Stocks #7: Cerecor Inc. (NASDAQ: CERC)
Yesterday CERC had a multi-day breakout over $4.09. I’ll watch for continuation to the upside.
Biotech Penny Stocks #8: Phio Pharmaceuticals Corp. (NASDAQ: PHIO)
On February 12, PHIO announced it entered into agreements with institutional investors to sell just over 2.2 million shares at a price of $3.42.
The stock has a low float of around 10 million shares. A breakout over the multi-day resistance level of $4.10 could be a volatile move.
Biotech Penny Stocks #9: Therapeutic Solutions International, Inc. (OTCPK: TSOI)
Yesterday, TSOI announced the appointment of a new scientific advisory board member. The stock is holding up since this news on February 8. I’ll watch for a breakout over the recent high of $0.1729.
Biotech Penny Stocks #10: Onconova Therapeutics, Inc. (NASDAQ: ONTX)
Yesterday, ONTX announced its president and CEO would present a company update at the virtually held 2021 BIO CEO & Investor Digital Conference from February 16–18.
The presentation could generate interest and volume in the stock. I’ll watch for volume to come in and a breakout over $1.39.
Get the List of Penny Stocks I’m Watching Delivered to Your Inbox
Want to know which stocks I’m watching each week? Subscribe to my no-cost watchlist. I’ll send my top penny stocks to watch right to your inbox every week. It can help you learn the process I follow for every stock.
I’ll say it again … The stocks on my watchlist aren’t an automatic buy. Remember to do your own due diligence and research. If you’re trading without a trading plan, you’re gambling. Don’t be a degenerate gambler — trade smart!
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Conclusion
Biotech penny stocks are stocks of small, developmental companies. These companies are usually desperate for cash. They need it to continue developing products and for testing and trials. Trade them with caution…
They’re known to be extremely volatile. They can have huge price swings. One minute they’re flying high on positive news — the next they’re down due to bad trial results, side effects, or stock dilution.
If you’re prepared to take advantage of the price swings, these stocks can offer great trading opportunities…
In my Trading Challenge chat room, my students and I talk about the hottest penny stocks. And many top traders who got their start in the Challenge are now chat moderators who answer questions and help out new students.
If you want to join a community of top traders, apply for my Trading Challenge. I don’t accept everyone. I only want the most dedicated students who are willing to put in the time and effort it takes to become my next top student. Could it be you?
What do you think of these biotech penny stocks to watch? Let me know in the comments … I love to hear from you!
The post Top Biotech Penny Stocks to Watch — February 17, 2021 appeared first on Timothy Sykes.