Plenty of variety for the top stocks to watch today — biotechs, EVs, battery plays, tech stocks, and recent IPOs.
Volume and spikes are returning to some of these hot sectors and a few of these stocks are former runners.
But I must remind you … With higher-priced stocks, watch the overall markets.
Many of yesterday morning’s spikes faded as the overall markets went flat.
The same rules for trading penny stocks apply here. So don’t get greedy. Don’t hold too long thinking you can try to get more out of a trade. And don’t let a trade turn into an investment by holding and hoping.
Trading’s a game of discipline. Have a trading plan ready in advance, then trade the plan.
Come to the market every day armed with the right mindset. That’s how you conquer the trading battlefield.
Here’s my list of the top 11 stocks to watch today…
11 Stocks to Watch for Thursday, April 8, 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:
- 13 Stock Chart Patterns You Should Know: A Complete Guide
- 8 Day Trading Strategies You Need To Know
- Trading Plan: How to Create One in 2021 (Step by Step)
The stocks on this list aren’t penny stocks. Even if I rarely trade higher-priced stocks, their movements can still affect stocks within my price range. So to me, they’re worth watching.
If you want to know which penny stocks I’m watching…
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For even more stocks to watch, check out these blog posts that I update weekly:
- Get my weekly top penny stocks list here.
- Want to trade a specific sector? Check out my biotech penny stocks watchlist here.
Now, here are 10 top stocks to watch today…
Stocks to Watch Today #1: Greenwich LifeSciences, Inc. (NASDAQ: GLSI)
Traders can watch for continued upside if the stock breaks above yesterday’s high of $59.48.
Stocks to Watch Today #2: UTime Limited Ordinary Shares (NASDAQ: UTME)
The stock began trading at $11.40 on Tuesday — well above its $4 IPO price. Yesterday it made highs of $107.33. I wouldn’t chase the stock up here. Traders can watch for a panic dip buy opportunity. But I’d be leery of a possible secondary offering.
Stocks to Watch Today #3: Himax Technologies, Inc. (NASDAQ: HIMX)
Yesterday, HIMX announced preliminary first quarter 2021 unaudited financial results.
President and CEO Jordan Wu said, “Revenues, gross margin and EPS all hit new records in this quarter, surpassing our prior highs in the fourth quarter of 2020, thanks to persisting demand across our major business segments.
“Looking into the second quarter, the demands remain robust and the global semiconductor shortage has not shown signs of receding. We expect another strong financial result for the second quarter. We will give detailed updates in the upcoming earnings call.”
The full report and conference call aren’t scheduled until May. The stock has resistance around $16 and an all-time high of $17.88.
Stocks to Watch Today #4: Canoo Inc. (NASDAQ: GOEV)
GOEV is an EV manufacturer. A few stocks in the EV and lithium battery sector ran yesterday.
This stock has been beaten down to new lows recently. Traders can watch for a potential bounce to the upside as shorts buy to cover. But watch the overall sector for direction.
Stocks to Watch Today #5: Ouster, Inc. (NYSE: OUST)
OUST is another recent IPO on today’s list. This one’s in the tech sector. It develops lidar sensors used in self-driving cars, machinery, and robotics. Yesterday Citi initiated coverage on the company with a buy rating and a $17 price target.
The stock had a big first green day following the news. Traders can watch for continued upside.
Stocks to Watch Today #6: Coursera, Inc. (NYSE: COUR)
COUR is an online education company. It’s yet another recent IPO that’s been green since its debut.
It’s also another stock I wouldn’t chase. Traders can watch for a panic dip buy opportunity.
Stocks to Watch Today #7: Romeo Power, Inc. (NYSE: RMO)
RMO is a lithium-ion battery designer and manufacturer. Its battery packs are used in commercial electric vehicles. On Tuesday the company announced it entered a long-term supply agreement…
“Under the agreement, Romeo Power will be a battery supplier for Peterbilt 579 and 520 BEVs in the United States and Canada through 2025. The start of production is anticipated to begin after 2021.”
The stock traded over 200 million in volume Tuesday but faded off yesterday with the overall markets. Traders can watch for a multi-day breakout over Tuesday’s high of $13.64. The stock’s a former runner but has a lot of overhead resistance.
Stocks to Watch Today #8: PAVmed Inc. (NASDAQ: PAVM)
Yesterday the stock consolidated. Traders can watch for continued upside if the stock breaks above yesterday’s high of $6.59.
Stocks to Watch Today #9: XL Fleet Corp. (NYSE: XL)
XL is another stock that ran yesterday with battery and EV stocks. XL is an auto parts company that uses electric driveshafts, motors, and battery packs to electrify commercial vehicle fleets.
Yesterday, Apex Clean Energy announced XL Fleet will electrify its company vehicles.
Mark Goodwin, president and CEO of Apex Clean Energy said, “XL Fleet gives us the ability to begin working toward our carbon reduction goals immediately by electrifying our vehicle fleet with proven solutions that make strong financial sense.”
The stock traded high volume following the news, but it’s another stock with a lot of overhead resistance.
Stocks to Watch Today #10: GreenBox POS (NASDAQ: GBOX)
GBOX is a tech company that develops block-chain payment solutions. On Monday the company announced it increased its processing volume estimates for 2021.
The company will also ring the Nasdaq opening bell on Friday. That could potentially bring interest and volume into the stock.
Traders can watch for a multi-day breakout over yesterday’s high of $20.78.
Stocks to Watch Today #11: Innoviz Technologies Ltd. (NASDAQ: INVZ)
INVZ is another tech company that develops lidar sensors and perception software for use in self-driving cars. The company went public on Tuesday through a SPAC merger.
Yahoo Finance featured the company yesterday morning. Traders can watch for more upside if the stock breaks out over $12.50.
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.
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.
(*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.)
Frequently Asked Questions About Stocks to Watch Today
What Are the Best Stocks to Trade as a Beginner?
My favorite stocks to trade are penny stocks. I think they’re a great way for beginners to learn the trading process with a small account.
Can You Get Rich Trading Stocks?
Don’t come into trading with a get-rich-quick mindset. Trading is a marathon, not a sprint. It can be a lucrative career but it takes years of hard work and dedication to learn the nuances of the market — which is what I teach.
How Much Money Do You Need To Start Trading Stocks?
Only start trading with money you can afford to lose. You can start small. In fact, I teach traders to focus on education first to learn the process, then slowly scale up over time.
Is Trading Stocks Risky?
All trading is risky. No trader is right 100% of the time. That’s why I keep my losses small by cutting losses quickly.
Conclusion About Top Stocks to Watch Today
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.
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!