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Top Stocks to Watch Today: Thursday, March 4

SPACs, biotechs, and tech stocks are the top stocks to watch today… 

There’s also another Reddit short squeeze to watch.

The overall markets are choppy. But there are plenty of stocks bucking the trend on news, rumors, and hot sector momentum.

So, if you’re getting frustrated because there aren’t 1,000% gainers every day … time for a reality check. Stocks don’t just go up.

There are still opportunities. It’s your job as a trader to learn how to find them in any kind of market. Can’t find plays that fit your strategy? Work on building your knowledge account. Study all my educational resources.

Stop blindly following hot stock picks and learn how to trade the right way.

Use my watchlist as a guide. Find out what’s on today’s watchlist and why — then study up!

Here’s my list of the top 10 stocks to watch today…

10 Stocks to Watch for Thursday, March 4, 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…

Get the Stocks I’m Watching Delivered to Your Inbox

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 10 top stocks to watch today…

Stocks to Watch Today #1: Horizon Acquisition Corporation II (NYSE: HZON)

HZON is a special purpose acquisition company (SPAC). It had a huge gap up yesterday on rumors it will take Sportrader public. Sportrader is a Swiss gambling data company with ties to the NFL, MLB, NHL, and NBA.

 

Stocks to Watch Today #2: Lumen Technologies, Inc. (NYSE: LUMN)

LUMN is a former runner that’s uptrending toward its recent highs.

The company president is scheduled to present at the Morgan Stanley 2021 Technology, Media, and Telecom Conference today at 12:30 p.m. Eastern.

The presentation could bring interest and volume into the stock. Traders can watch for continued upside momentum.

 

Stocks to Watch Today #3: MagnaChip Semiconductor Corporation (NYSE: MX)

MX is a tech company that manufactures and sells touchscreen displays and sensors. Its tech is used in the auto industry, phones, tablets, and TVs.

On February 17, the company released fourth-quarter earnings. The stock had a huge gap up before fading. On February 18, the company released positive news. It’s beginning mass production of its OLED display driver for smartphones.

Yesterday, the stock broke out to new 52-week highs of $21.61. Traders can watch for continued upside momentum.

 

Stocks to Watch Today #4: Tanger Factory Outlet Centers, Inc. (NYSE: SKT)

SKT is a real estate investment trust that owns or has an interest in 38 open-air retail shopping centers.

The company reported fourth-quarter earnings on February 17. The report included positive statements from the company’s CEO.

The stock could have more upside as more states re-open. Traders can watch for a retest of the recent high of $20.96.

 

Stocks to Watch Today #5: Canaan Inc. (NASDAQ: CAN)

Canaan Inc. develops and sells integrated circuit systems for bitcoin mining. Cryptocurrency, bitcoin, and blockchain stocks were all up yesterday, moving in sympathy to sector leader bitcoin.

Traders can watch for a breakout to new all-time highs over $25.78. But these stocks closely follow bitcoin, so watch that sector leader.

 

Stocks to Watch Today #6: Bayport International Holdings, Inc. (OTCPK: BAYP)

BAYP is a higher-priced OTC. But six trading days ago, the stock was below $1.

There’s no recent news on the company. But the company filed its annual report on OTCMarkets.com on February 24.

Volume’s fading so it could be worth watching for a morning panic dip buy opportunity.

 

Stocks to Watch Today #7: Ocugen, Inc. (NASDAQ: OCGN)

OCGN is in the hot biotech sector. Yesterday the company’s co-development partner released positive interim data. Its Phase 3 COVID-19 vaccine trial shows its vaccine candidate has 81% efficacy.

The stock traded high volume and has the potential for a short squeeze.

 

Stocks to Watch Today #8: Rocket Companies, Inc. (NYSE: RKT)

RKT was gaining momentum last week. It reported fourth-quarter earnings after hours on February 25. The stock gapped the next day from $19.90 to $23.33 before fading. It gapped up again on Monday.

On Tuesday, RKT soared after Reddit traders targeted it as a short squeeze candidate.

Yesterday the stock retraced some of its gains. Traders can watch for a quick short squeeze if the stock finds support and dip buyers come in.

 

Stocks to Watch Today #9: KemPharm, Inc. (NASDAQ: KMPH)

KMPH is another biotech company. After hours on Tuesday, it announced the FDA approved its new drug application for its treatment of ADHD in patients over six years old. The company held a conference call to discuss the news yesterday in premarket.

In premarket, the stock was a huge percent gainer and traded as high as $21 before fading at the open. But it traded high volume and has a relatively low float. Traders can watch for a bounce and potential short squeeze.

 

Stocks to Watch Today #10: Heat Biologics, Inc. (NASDAQ: HTBX)

HTBX gapped up yesterday after an analyst initiated coverage on the stock and gave it a $22 price target. It’s another stock in the hot biotech sector.

Traders can watch for the stock to bounce to the upside. But if it continues to fade, it could offer a panic dip buy opportunity.

 

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.)

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! 

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