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Thursday, October 28, 2021

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Penny Stocks to Buy Using Technical Analysis for October 2021

I am seeing plenty of synthetic influences on the economic system proper now, together with low interest rates and the statements made by Fed officers and numerous politicians. It may be laborious to maintain observe of all that noise, to not point out the company-specific particular information which will have an effect on the investments in your portfolio.

It is for that purpose that many traders skip straight to technical analysis, which might help them discover worthwhile trades with out poring over convention name transcripts and newspapers for hours on daily basis. On this month’s column, my crew and I’ve narrowed down 5 penny stocks with promising set-ups. Nonetheless, make sure that to look at them fastidiously and transfer rapidly (and even put a stop-loss value vary in place), as these patterns can generally change or fail with none discover.

Among the set-ups I describe under might now not be related or intact as of the time you learn this text. Please conduct your individual due diligence. Many shares talked about right here have been additionally mentioned within the Peter Leeds Publication. Peter might personal shares in a number of the investments talked about, during which case that reality might be clearly indicated. Please notice that penny shares are notoriously risky.

Galecto, Inc. (GLTO)

I am stunned that Galecto, Inc. (GLTO) is buying and selling so low for the time being, given some robust fundamentals. It has some intriguing technical indicators on its chart, too, together with a relative strength index (RSI) of 23.45, which suggests {that a} development reversal could possibly be on the way in which quickly.


Altamira Therapeutics Ltd. (CYTO)

Like Galecto, Altamira Therapeutics Ltd. (CYTO) is a biotech agency with a low RSI of 28.73, which is usually a bullish signal. It additionally has a barely imperfect hammer candlestick on its charts just lately, which might recommend that the time is ripe for the inventory to see increased costs forward. In case you do not see this development reversal materializing originally of October, nonetheless, I would most likely take into account the sign to have failed and would exit the place ASAP.


Crew, Inc. (TISI)

Crew, Inc. (TISI) has had a outstanding fall year-to-date, shedding greater than 70% of its worth over that point. Nonetheless, the technical indicators could possibly be implying that the inventory has reached backside and that capitulation is close to. My favourite sign, the RSI, is at 28.95, implying that the inventory is oversold. Moreover, the market seems to be shedding certainty in its bearish thesis on the inventory, with some doji (or cross-shaped) candlesticks showing on the charts over the previous month.


Audacy, Inc. (AUD)

Audacy, Inc. (AUD) had an nearly excellent bullish marubozu candlestick showing on its charts as of the time I used to be writing this text, underpinned by pretty good buying and selling quantity. This, plus some excellent oscillators and glorious moving averages (as measured by TradingView.com), leads me to consider that Audacy inventory will see a constructive value development within the close to time period.


TuanChe Restricted (TC)

In case you’re a thrill-seeker in search of huge volatility, then search no additional than the Chinese language penny shares. TuanChe Restricted (TC) drew my eye due to its excellent white marubozu candlestick as of the primary day of October, which is an especially bullish signal. I notice, nonetheless, that trading volume is on the decrease facet, so you should definitely make your self scarce if the commerce is not going the way in which you anticipated.


Penny shares are risky and might generate catastrophic losses. Value ranges on this article are hypothetical and don’t symbolize purchase suggestions or funding recommendation. Remember that it is your accountability to make buying and selling selections by your individual expert evaluation and danger administration.

Peter Leeds is the writer of a number of books, together with the worldwide bestseller, “Penny Shares for Dummies.” He and his crew additionally subject a e-newsletter devoted completely to penny inventory picks and evaluation, in addition to a well-liked YouTube channel PeterLeedsPennyStocks.

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