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Top Stocks to Watch Today: Friday, February 5

Today’s watchlist could almost be called a ‘biotech stocks to watch today’ list. 

Hot sector momentum continues, and it’s not just biotechs.

There’s a ton of opportunities out there — breakouts, new drug news, trial results…

And a potential comeback for weed stocks? I’m watching them and I’ve already traded a few recent runners. I’ll share one of my trades shortly…

Just remember to not fall for the hype. Make a trading plan and stick to it.

You’ll never learn by just following picks. Preparation is key if you want to take advantage of this hot market. So study up!

Now, here’s my list of top 10 stocks to watch today…

10 Stocks to Watch for Friday, February 5, 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.) 

But you’ll notice that not all of the stocks on this list are technically penny stocks. Even if I rarely trade higher-priced stocks, their movements can still affect stocks within my price range, so they’re worth watching.

Here are my 10 top stocks to watch today…

Stocks to Watch Today #1: Advaxis, Inc. (NASDAQ: ADXS)

ADXS is a biotech stock and in a hot sector. There’s no recent news about the company, but on Thursday it had a multi-day breakout over 88 cents.

The stock closed near its highs yesterday so I’ll watch for a gap up and the stock to break above $1 per share.

 

Stocks to Watch Today #2: MedMen Enterprises Inc. (OTCQX: MMNFF)

MMNFF is a marijuana stock. The sector is gaining momentum on hopes of legalization and legislation changes.

I dip bought this runner yesterday and made a profit of $4,290.* I’ll watch for continuation today, but if it gaps down I’ll watch for a morning panic dip buy.

(*Please note: My results are far from typical. Individual results will vary. Most traders lose money. I have the benefit of years of hard work, dedication, and experience. Trading is inherently risky. Do your due diligence and never risk more than you can afford to lose.)

 

Stocks to Watch Today #3: Innovation Pharmaceuticals Inc. (OTCQB: IPIX)

IPIX was on my biotech stocks to watch list this week. The company recently released this news and had a multi-day breakout over 36 cents. I’ll watch for continued upward momentum.

 

Stocks to Watch Today #4: Ocugen, Inc. (NASDAQ: OCGN)

OCGN is another stock in the hot biotech sector. On February 2, the company filed this Form 8-K.

The filing notes that Ocugen, Inc. entered into an agreement with another company to develop, manufacture, and commercialize a vaccine candidate for the prevention of COVID-19.

I’ll watch the stock for a breakout over $3.70 resistance.

 

Stocks to Watch Today #5: Enzolytics Inc. (OTCPK: ENZC)

Again, this stock is in the hot biotech sector. It was also on my biotech watchlist this week, and I traded its breakout on Tuesday.*

The stock is getting overextended, so I’ll watch for a morning panic dip buy opportunity.

 

Stocks to Watch Today #6: Agenus Inc. (NASDAQ: AGEN)

YEP, another biotech stock … This one’s running on news of positive trial results.

The stock had a big move yesterday on high volume. It didn’t hold the breakout level, but I’ll watch for a Friday short squeeze back to the $5.95 highs.

 

Stocks to Watch Today #7: Zomedica Corp. (NYSE: ZOM)

If you haven’t heard the crazy story about the huge ZOM move, you have to check out this episode of the SteadyTrade podcast.

With the crazy hype around this stock, it’s managed to hold up. It closed right at the breakout level of $1.50. I’ll watch for a gap up and continuation today.

 

Stocks to Watch Today #8: Precipio, Inc. (NASDAQ: PRPO)

Yesterday, PRPO released a letter notifying customers about the launch of its online store, which includes COVID-19 tests. It also announced the news in this tweet.

The stock had a quick spike in the afternoon yesterday. I’ll watch for the news to spread and the stock to break out above the multi-month resistance of $3.20 and re-test the $3.60 high from yesterday.

 

Stocks to Watch Today #9: XpresSpa Group, Inc. (NASDAQ: XSPA)

XSPA is making the news for turning its airport spas into COVID testing centers. The news isn’t new, but the increased demand for testing for travelers has this stock back in the spotlight.

The company was featured on a Yahoo! Finance video discussion yesterday and the stock had a late-day spike. There’s a lot of overhead resistance on the daily chart. But I’ll watch for the stock to break above yesterday’s high.

 

Stocks to Watch Today #10: Ideanomics, Inc. (NASDAQ: IDEX)

Yesterday, IDEX had a breakout over $4.75 and made a new 52-week high of $5.32. I’ll watch for a gap up and continued momentum today.

 

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.

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! 

(*Please note: My results are far from typical. Individual results will vary. Most traders lose money. I have the benefit of years of hard work, dedication, and experience. Trading is inherently risky. Do your due diligence and never risk more than you can afford to lose.)

Get the Stocks I’m Watching Delivered to Your Inbox

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

Frequently Asked Questions About Stocks to Watch Today

How Can Beginners Trade Penny Stocks?

I recommend every new trader starts building a knowledge account before trading. Study everything you can, watch the market in real time, and paper trade before you risk your hard-earned cash.

What Should I Look for When Buying Penny Stocks?

I look for penny stocks that are spiking on news. And I like stocks that have high volume so I can trade in and out quickly.

How Do I Find Penny Stocks Under $1?

I use StocksToTrade scanners to find penny stocks under $1. You can use one of its 40+ built-in scans or customize your own based on your trading criteria.

Conclusion

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! 

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