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Top Stocks to Watch Today: Thursday, July 29

It’s earnings season — and earnings winners are the top stocks to watch today!

Could earnings help fire up a beaten-down sector?

Marijuana stocks have made huge runs in the past. Today, I have three on my watchlist … They’re running on earnings and in sympathy to the biggest companies in the sector.

Plus, good ol’ low float short squeezes continue to offer opportunities for prepared traders who are ready to capitalize on these quick moves.

But these listed stocks can be choppier than my favorites, OTCs. So be ready to cut losses quickly if a stock goes against you. Protect, protect, protect…

Here’s my list of the top 7 stocks to watch today…

7 Stocks to Watch for Thursday, July 29, 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.) 

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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Need more stocks to watch? Subscribe to my weekly watchlist and I’ll deliver the stocks I’m watching every week right to your inbox.

👉🏼 SUBSCRIBE to my no-cost weekly stock watchlist here.

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

Now, here are 7 top stocks to watch today…

Stocks to Watch Today #1: Teva Pharmaceutical Industries Limited (NYSE: TEVA)

TEVA is an Israel-based company that develops and distributes generic and specialty medicines in the U.S. and Europe.

On July 28 the company announced second-quarter earnings. It also released a report showing the company’s generic medicines saved the U.S. $28.8 billion in 2020.

“In the US, Teva’s 11 manufacturing sites supply 11 billion doses annually. Teva medicines accounted for one of every 10 generic prescriptions in 2020. The Company’s economic activity also supported more than 57,000 U.S. jobs and contributed $15.7 billion in economic output in the United States.”

Read the full report here.

The stock had its first green day after the report and earnings releases. Traders can watch for a potential continuation higher.

 

Stocks to Watch Today #2: Flora Growth Corp. (NASDAQ: FLGC)

Flora Growth develops cannabis products like oils, and extracts, as well as health and beauty products like moisturizers, eye creams, and supplements.

The stock soared the last three days from roughly $3 to over $6.50 — new all-time highs for the stock.

In a July 26 press release, the company applauded Colombia’s cannabis regulation updates that could increase the company’s revenue potential.

And on July 27 the company announced a joint venture with a Canadian company to distribute its pain cream.

“Flora Growth will manage registration, sales, and distribution of KaLaya products in Colombia, Mexico, and other LATAM countries, while Avaria will supply finished products.”

Read the full press release here.

Since the stock already ran multiple days, traders can watch this one for a potential morning panic dip buy opportunity.

 

Stocks to Watch Today #3: Support.com, Inc. (NASDAQ: SPRT)

SPRT is a tech company that offers cloud-based technology and support.

It’s a favorite among Reddit penny stock traders. They targeted it for a short squeeze due to its low float of fewer than 10 million shares.

The stock has squeezed higher, but it’s choppy — not my favorite stocks to trade.

We’ll see how high the Reddit traders can push this one. I’ll watch it for a potential morning spike, ideally with news and high volume. That could create a breakout to new 52-week highs over $9.45.

 

Stocks to Watch Today #4: Tilray, Inc. (NASDAQ: TLRY)

Tilray is a Canadian marijuana producer.

The company reported fourth-quarter earnings on July 28 — the first earnings report since it merged with Aphria.

The stock climbed 25% and created sympathy plays in other marijuana stocks. It’s a former runner but it also has a ton of bag holders. I wouldn’t chase spikes. Traders can watch for dip-buy opportunities.

 

Stocks to Watch Today #5: Bit Digital, Inc. (NASDAQ: BTBT)

BTBT is a bitcoin mining company. The stock was up roughly $4 per share on July 26 in sympathy to bitcoin’s (BTC) spike above $40,000.

Then, on July 28 the stock was up over 50% after the company announced its CEO participated in a fireside chat with the CEO of Marathon Digital Holdings, Inc. (NASDAQ: MARA) at Sequire’s Blockchain Conference on July 15.

Read the full press release here.

The stock’s set up for a potential multi-day breakout over $9.50. Traders can watch for that move, ideally with high volume.

 

Stocks to Watch Today #6: LSB Industries, Inc. (NYSE: LXU)

LXU produces and sells chemicals like nitrogen and ammonia-based fertilizers.

It was on last week’s watchlist after the company announced an exchange of series E and F preferred stock for common stock and a special dividend for existing shareholders.

The stock was on watch for a breakout over $8. The breakout happened a few days later, but it was weak. Now it looks like the stock’s reversing. (Past performance isn’t indicative of future results.) 

Traders can watch for a potential dip-buy opportunity into a big panic.

 

Stocks to Watch Today #7: Grove, Inc. (NASDAQ: GRVI)

GRVI is a healthcare company that develops cannabidiol products for the beauty, pet care, and food sectors.

On July 28 it ran with other marijuana stocks, but the company also released preliminary fourth-quarter and year-end financials.

After the news, the stock gapped up from the mid $4s and made a high of $7.40 before fading to the mid-$5s. The stock has a low float of fewer than eight million shares so it could have a volatile move.

Traders can watch for a potential bounce and quick squeeze.

 

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.

penny stock checklist

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! 

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.

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!

**Tim Sykes has a minority ownership stake in StockstoTrade.com.

*Tim Sykes’ trading results are not typical and do not reflect the experience of the majority of individuals using the services and products offered on this website.  From January 1, 2020, to December 31, 2020, typical users of the products and services offered by this website reported earning, on average, an estimated $49.91 in profit.

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