I’m watching five crypto penny stocks for future catalysts, mergers, and short squeezes. Plus one that already spiked over 2,000%…
The huge move’s a perfect example of the volatility in penny stocks. And it’s what I love about this niche. It’s how I completely underestimate stocks, take the meat of the move, and still take singles to grow my account.*
See how I did it with my trades on stock #1 from today’s list.
And one of these stocks returns from last week. Did you profit from the breakout?
If you missed it, find out why it’s back on the watchlist this week.
So even though it looks like more bearish moves are in the future for bitcoin (BTC) and other cryptos, these top crypto penny stocks to watch have potential. Here’s what I’m watching…
Top Crypto Penny Stocks to Watch
First, here are the top OTC crypto stocks I’m watching this week…
And here are a few listed stocks I’m keeping tabs on…
Keep in mind that some crypto penny stocks only run when big tokens like BTC make new highs or recover from a big price dip.
Note that this list is only a watchlist. These are in no way a recommendation to buy or trade. Always do your own research. And only trade a stock if you have a plan and it fits your setup.
Crypto Penny Stock #1: Life Clips, Inc. (OTCPK: LCLP)
LCLP is the latest OTC spiker. It ran on July 14 and 15 after announcing it’s entering the crypto space.
The company will acquire Belfrics Group, “a global blockchain technology firm that runs cryptocurrency exchanges on its proprietary platform. Belfrics currently has a presence in Malaysia, Singapore, India, Kenya, Tanzania, Nigeria, and Bahrain; and it has the capability to process over 1 million transactions per second.”
Read the full press release here.
StocksToTrade Breaking News Chat alerted the news on July 14. (Past performance is not indicative of future results.) I think every trader should take advantage of this amazing trading tool. It can be a serious game-changer for your trading. If you’re not using it yet — get a 14-day trial now for only $17!**
I dip-bought the stock twice in the morning for combined profits of $1,289.* I traded conservatively since it had already spiked so much. But of course, I WAY underestimated it. The stock went up 2,000% by the end of the day. I made a video lesson on this runner and my trades for Profit.ly subscribers. Watch it here.
The next day the stock continued higher. I dip-bought it again when it had a midday panic. I bought 985,000 shares at $0.0285 and sold into the bounce at $0.0305 for a profit of $1,970.* I traded it again in the afternoon when it panicked even more and I made $749.*
I think it’s getting overextended now. It went from being a sub-penny stock to a high of $0.0569 in two days.
It’s on watch for another dip-buy opportunity into a big panic.
Crypto Penny Stock #2: Hut 8 Mining Corp. (NASDAQ: HUT)
HUT is a Canadian cryptocurrency miner.
On June 30 the company announced it purchased 12,000 new MicroBT miners.
HUT CEO Jaime Leverton said, “We are excited to have identified this unique opportunity to purchase MicroBT equipment that will enable us to almost double our hashrate before the end of the year and substantially increase the number of Bitcoins earned on a daily basis.”
Read the full press release here.
The stock had multiple green days after the news. It’s retraced to the support level around $4. I’ll watch it for a potential bounce to the upside.
Crypto Penny Stock #3: Support.com, Inc. (NASDAQ: SPRT)
SPRT is a tech company that offers cloud-based services and technical support to businesses.
Back in March, the company announced it will merge with bitcoin mining company Greenidge Generation Holdings. Greenidge will become a public company through the merger. It’s due to complete in the third quarter of this year. That means a potential future news catalyst.
On July 14, Greenidge announced it purchased 2,300 crypto miners from its subsidiary, Foundry Digital LLC.
Read the full press release here.
SPRT has a low float of fewer than 10 million shares. And low float short squeezes have been some of the hottest runners in the market recently.
I’ll watch this one for a press release announcing the completed merger. High volume could potentially create a short squeeze.
Crypto Penny Stock #4: Good Gaming, Inc. (OTCPK: GMER)
GMER operates an online gaming platform. It returns to the watchlist from last week. It just keeps going higher…
Last week I was watching for a multi-day breakout over $0.4164. It broke out the day my watchlist went out. (Past performance is not indicative of future results.)
It continued to run and made a high of 75 cents.
But it’s traded sideways for a few days. Now I’m watching it for a potential morning panic dip-buy opportunity.
Crypto Penny Stock #5: Alset EHome International Inc. (NASDAQ: AEI)
AEI is involved in a variety of business ventures through its subsidiaries — real estate, biohealth research, and software development. Now it’s entering the green crypto mining space…
On July 15 the company tweeted a YouTube video showing the company’s plans to use excess solar energy for crypto mining.
The stock had an intra-day spike after the news. It’s slightly out of penny stock territory, trading in the mid-$5s as of this writing. But it’s a former multi-day runner so it’s another stock I’ll watch for an official press release and high volume.
See the Stocks I’m Watching
I want to help you as much as possible, which is why I offer a NO-COST watchlist.
Will you find crypto penny stocks on my list? That depends. I go where the hottest market action is.
Subscribe to my weekly watchlist to see what makes the cut. I round up my top watches every week and send them to you. Use these stocks to study the trading patterns, catalysts, and price action. Then build a trading plan of your own.
Know that I’m not recommending you to trade the stocks on my watchlist. There’s no guarantee I’ll trade any of these stocks. I’m simply WATCHING them for potential future setups.
Never blindly follow alerts or hot picks. Ever. Do your own research. Your goal is to eventually become confident in your own trading plan.
When you’re looking for hot crypto penny stocks, keep in mind…
These stocks tend to move together on sector momentum. Don’t jump into these stocks before the markets give you a reason.
And keep your goals reasonable. Don’t go swinging for the fences. Aim for singles.
Watch for major news in the cryptocurrency industry. These stocks probably won’t run without a catalyst.
Learn to be patient and wait for your best setups to come to you. That’s what I teach in my Trading Challenge. If you want to become a self-sufficient trader, consider applying today.
What’s your take on crypto penny stocks? I’d love to read about it in the comments!
*Please note that reported trading results are not typical. Most traders lose money. 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.
**Tim Sykes has a minority ownership stake in StockstoTrade.com.