Lots of recent runners made the list of top stocks to watch today…
These multi-day runners could be getting overextended, so I’m watching a few for dip-buying opportunities into perfect morning panics.
But low-priced plays have been working well for me lately, so I won’t chase anything.
I’m waiting for the best trades to come to me.
Always focus on what’s working best for YOU. Nobody else.
Some of the top Challenge traders short sell — I don’t. And it’s not what I teach. But it works for them. That’s fine. It doesn’t matter what strategy works for you. Stay focused on the process and the right mindset.
Never hold and hope and try to get rich quick like too many newbies do.
Here are the top 10 stocks to watch today…
10 Stocks to Watch for Tuesday, May 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:
- 13 Stock Chart Patterns You Should Know: A Complete Guide
- 5 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…
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:
- 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: Regional Health Properties, Inc. (NYSE: RHE)
RHE is a recent runner with no news. It has gone from roughly $4 to $16 in four days.
The company even acknowledged there was no reason for the stock to be up in a Form 8-K filed on April 30.
“The Company confirms it is not aware of any undisclosed material change in the business, operations or affairs of the Company that would account for the recent increase in the share price and the trading volume of the Company’s common stock.”
Stocks to Watch Today #2: CryoLife, Inc. (NYSE: CRY)
CRY had a huge green day on April 30 after it released first-quarter earnings in after-hours on April 29. The stock went from roughly $24 to $30 on high volume.
Yesterday it consolidated. Earnings reports can be fundamental catalysts. Traders can watch for CRY to break out over Friday’s high of $30.
Learn more about how to read earnings reports here.
Stocks to Watch Today #3: Ocugen, Inc. (NASDAQ: OCGN)
Yesterday it announced its vaccines have proven effective against three variants of the virus.
“In the ICMR studies, COVAXIN-vaccinated sera effectively neutralized several SARS-CoV-2 variants (B.1.617 (India, double mutant), B.1.1.7 (United Kingdom), B.1.1.28 (Brazil P2), and heterologous strain) in an in-vitro plaque reduction neutralization assay. These studies suggest that COVAXIN vaccination may be effective against multiple SARS-CoV-2 variants.”
The stock’s already up a lot over the last week. Traders can watch for a dip-buy opportunity into a big panic. But if it continues higher it could create a giant short squeeze.
Stocks to Watch Today #4: Vesper Healthcare Acquisition Corp. (NASDAQ: VSPR)
VSPR was on Friday’s watchlist for a morning panic dip-buy opportunity. It’s a low-volume spiker, but it held up surprisingly well.
On Friday the company filed a Form 8-K with voting results from a recent special general meeting. Shareholders voted to approve previously disclosed mergers of its subsidiaries.
The stock’s still trading low volume but dips and panics to the $11 range have been bought up. Traders can watch for dip-buying opportunities.
Stocks to Watch Today #5: Reconnaissance Energy Africa Ltd. (OTCQX: RECAF)
RECAF is an oil and gas company. It has been on and off my daily watchlist to Profit.ly subscribers for the last few weeks. I’ve been watching for dip-buying opportunities into panics. But the stock keeps holding up.
I traded it once on April 20 for a small profit of $550.*
On April 26, the company released a corporate update and the stock bounced. Now it’s back to its recent highs around $8. Traders can watch for a breakout over $8.30. But if it fails it could offer a morning panic dip-buy opportunity.
Stocks to Watch Today #6: PLBY Group, Inc. (NASDAQ: PLBY)
PLBY’s another stock returning to the watchlist. It’s running on news it will offer NFTs.
It’s consolidating near its recent highs. Traders can watch for a breakout above $55, ideally with a news catalyst. Or watch for a breakdown and panic dip-buy opportunity if it breaks support around $48.
Stocks to Watch Today #7: Scully Royalty Ltd. (NYSE: SRL)
SRL owns an iron ore mine in the Canadian province of Newfoundland and Labrador.
On April 30 the company released a corporate update and filed its annual report with the SEC. As part of the update, the company announced its board of directors is considering offering a cash dividend.
“As a result of the positive developments at the Scully iron ore mine, going forward, the Company has determined to focus its efforts on enhancing shareholder value and maximizing earnings and dividends to its shareholders based upon its iron ore royalty interest.”
The stock has had five green days in a row. Yesterday it had a big move from roughly $11 to $14. Traders can watch for a dip-buy opportunity into any intraday panics.
Stocks to Watch Today #8: Shineco, Inc. (NASDAQ: TYHT)
TYHT is another low-volume spiker. It started its run on April 21 when it had a technical breakout over $6 with high volume.
On April 30 the company announced a private placement in an SEC filing.
“Stockholders who have the authority to vote a majority of the outstanding shares of Common Stock approved, as required by NASDAQ Rule 5635, the issuance and sale of an aggregate of 3,872,194 shares of Common Stock (the “Shares”) to certain non-U.S. investors (the “Investors”) in a private placement transaction.”
I’m watching this one for dip-buying opportunities into perfect panics only. It’s choppy, and, like I said, low-priced plays have been working well for me so that’s where my focus is.
Stocks to Watch Today #9: Bitfarms Ltd. (OTCPK: BFARF)
BFARF is a cryptocurrency mining company. The stock has been up-trending since it released news that it will increase its hash rate on April 26.
Yesterday the stock hit resistance around $6 and couldn’t break out. Traders can watch for a morning panic dip buy opportunity.
Stocks to Watch Today #10: Brooklyn ImmunoTherapeutics, Inc. (NYSE: BTX)
BTX is a massive biotech runner with no recent news since it filed this Form 4 on April 20. It’s another stock returning from Friday’s watchlist. (Past performance is not indicative of future results.)
It was on watch for a big panic and a dip buy opportunity. But instead, it squeezed higher. It’s still on watch for a dip-buy opportunity into a perfect morning panic only.
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.
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!
*Please note that these kinds of trading results are not typical and do not reflect the experience of the majority of individuals using our products. 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. This figure is taken from tracking user accounts on Profit.ly, a trading community platform. It takes years of dedication, hard work, and discipline to learn how to trade. Individual results will vary. Trading is inherently risky. Before making any trades, remember to do your due diligence and never risk more than you can afford to lose.