timothy sykes logo

Penny Stocks News

Top 3 Stocks To Watch This Thursday Morning

Timothy SykesAvatar
Written by Timothy Sykes
Updated 12/27/2023 9 min read

As we approach the final days of 2023, I’m determined to wrap up the year on a positive note.  

This year’s market has had its share of ups and downs, there’s no denying that…

But amidst the fluctuations, there are plenty of opportunities waiting for traders like yourself to take advantage of!  

Every day my routine remains the same…

And today, I’ll be sharing with you three of the hottest stocks to keep a close eye on over the next few days and what my game plan is. 

Ready to finish off 2023 on a high note?

Let’s dive into the top 3 stocks I’m keeping a close eye on! 

Daily Routine

Every morning, my routine remains consistent, regardless of market conditions.  

To succeed in the fast-paced stock market environment, preparation is going to be essential. 

Every day I’m looking for some of the most promising stocks out there to capitalize on.

Not every trade goes as planned, so it’s crucial to cut your losses quickly when things go astray, as many of you already know.  

To put yourself in the best position possible you need to focus on the following: 

I can’t tell you how many traders ignore these key fundamentals when it comes to trading and it’s no wonder why the majority of traders lose.  

Preparedness is paramount, and it begins with having an effective daily routine.  

As we approach the final days of 2023, I’m looking to end it on a high note…

Here are three stocks to keep a close eye on and what strategy goes along with it.  

Post image

Get my weekly watchlist, free

Sign up to jump start your trading education!

Stock #1 – RiskOn International, Inc. (NASDAQ: ROI)

Let’s examine the daily chart for ROI.

Source: StocksToTrade

 

At the time I’m writing this, ROI has surged by more than 260%!

There’s no telling how high it can go, but I’m not looking to chase it at this point.  

How did ROI get on my radar? 

During the premarket hours, I saw ROI trending higher, but I wasn’t fully convinced to trade it based on the current price action.  

Scanning for big percent gainers helps me identify some of the best opportunities and allows me to think about what strategy I should use.  

Most penny stocks typically spike due to one of three factors…

Earlier, I highlighted the importance of focusing on three key items to put yourself in the best possible position…

Let’s apply that to ROI: 

Big Percent Gainer – As I mentioned, ROI was surging over 260% at the time I’m writing this.  

Trading Volume – The 60-day average trading volume is 1.8 million for ROI.  Yesterday, it traded well over 40 million shares at the time I’m writing this.  

Source: StocksToTrade


News – ROI was spiking due to this AI-related news, and was highlighted as a StocksToTrade Breaking News Alert. 

Source: StocksToTrade Breaking News 

 

These are the types of stocks to focus on, but it’s crucial not to chase.  

Instead, consider looking to dip-buy this significant runner.

Source: Profit.ly

Watch this video to learn how to dip-buy with less stress and risk:

 

Stock #2 – First Wave BioPharma, Inc. (NASDAQ: FWBI)

Nothing makes me happier than seeing my students find success in this market! 

The key is recognizing these opportunities in real time and understanding the most suitable strategy.  

Let’s review the chart to give you a better understanding.

Source: StocksToTrade


Early yesterday morning, FWBI soared more than 300%!

At the time I’m writing this, FWBI has fallen from its highs, but when you see stocks that have volatility halts, you need to be careful when you’re looking to dip-buy.

The real opportunity was trading FWBI during the pre-market as it broke out from its previous high of day.

Let’s revisit the three categories I look for every day and apply them with FWBI.   

Big Percent Gainer – In the chart above you can see how FWBI soared from nearly $4 per share to $14 per share.

Trading Volume – On average, FWBI trades at 342,000 shares per day.  At the time I’m writing this, it traded over 16 million shares! 

News – FWBI was spiking due to this breaking news

FWBI can still offer dip-buying opportunities for traders to take advantage of, but be careful, if volume starts to fade I expect this stock to fade back to its lows.  

 

Stock #3 – Cingulate Inc. (NASDAQ: CING)

Take a look at this chart…

Source: StocksToTrade

 

Does the pattern look familiar?

CING was soaring higher in the premarket and we continue to see this almost every single day.

Let’s quickly break it down: 

Big Percent Gainer – I was able to spot CING early in the morning as it was soaring more than 120%!

Trading Volume – Over the last 60 days, CING has traded roughly 77,000 shares per day.  At the time I’m writing this, it traded over 37 million shares!

News – This is just a classic short squeeze happening, something we’ve seen time and time again with these beaten-down stocks. 

Source: StocksToTrade Breaking News 

 

Just because there isn’t any significant news surrounding its recent run-up doesn’t mean there won’t be opportunities for traders like you to capitalize on.

Any significant big percent gainer with volume or a news catalyst could present remarkable opportunities…

Something we’ve seen happen with these over-aggressive short sellers, which could potentially send these stocks full Supernova!  

With the January Effect already taking place, we could see plenty of Supernovas in the coming days. 

Tomorrow will be the last Friday of 2023, and there is something I’ll be keeping a very close eye on.  

👉Will you be ready for what’s about to happen? 👈

Study up and I’ll see you in chat. 

 

-Tim

How much has this post helped you?

(0 votes, average: 0 out of 5)
Leave a reply
Author card Timothy Sykes picture

Timothy Sykes

Tim Sykes is a penny stock trader and teacher who became a self-made millionaire by the age of 22 by trading $12,415 of bar mitzvah money. After becoming disenchanted with the hedge fund world, he established the Tim Sykes Trading Challenge to teach aspiring traders how to follow his trading strategies. He’s been featured in a variety of media outlets including CNN, Larry King, Steve Harvey, Forbes, Men’s Journal, and more. He’s also an active philanthropist and environmental activist, a co-founder of Karmagawa, and has donated millions of dollars to charity.
Read More

* Results are not typical and will vary from person to person. Making money trading stocks takes time, dedication, and hard work. There are inherent risks involved with investing in the stock market, including the loss of your investment. Past performance in the market is not indicative of future results. Any investment is at your own risk. See Terms of Service here

The available research on day trading suggests that most active traders lose money. Fees and overtrading are major contributors to these losses.

A 2000 study called “Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors” evaluated 66,465 U.S. households that held stocks from 1991 to 1996. The households that traded most averaged an 11.4% annual return during a period where the overall market gained 17.9%. These lower returns were attributed to overconfidence.

A 2014 paper (revised 2019) titled “Learning Fast or Slow?” analyzed the complete transaction history of the Taiwan Stock Exchange between 1992 and 2006. It looked at the ongoing performance of day traders in this sample, and found that 97% of day traders can expect to lose money from trading, and more than 90% of all day trading volume can be traced to investors who predictably lose money. Additionally, it tied the behavior of gamblers and drivers who get more speeding tickets to overtrading, and cited studies showing that legalized gambling has an inverse effect on trading volume.

A 2019 research study (revised 2020) called “Day Trading for a Living?” observed 19,646 Brazilian futures contract traders who started day trading from 2013 to 2015, and recorded two years of their trading activity. The study authors found that 97% of traders with more than 300 days actively trading lost money, and only 1.1% earned more than the Brazilian minimum wage ($16 USD per day). They hypothesized that the greater returns shown in previous studies did not differentiate between frequent day traders and those who traded rarely, and that more frequent trading activity decreases the chance of profitability.

These studies show the wide variance of the available data on day trading profitability. One thing that seems clear from the research is that most day traders lose money .

Millionaire Media 66 W Flagler St. Ste. 900 Miami, FL 33130 United States (888) 878-3621 This is for information purposes only as Millionaire Media LLC nor Timothy Sykes is registered as a securities broker-dealer or an investment adviser. No information herein is intended as securities brokerage, investment, tax, accounting or legal advice, as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any company, security or fund. Millionaire Media LLC and Timothy Sykes cannot and does not assess, verify or guarantee the adequacy, accuracy or completeness of any information, the suitability or profitability of any particular investment, or the potential value of any investment or informational source. The reader bears responsibility for his/her own investment research and decisions, should seek the advice of a qualified securities professional before making any investment, and investigate and fully understand any and all risks before investing. Millionaire Media LLC and Timothy Sykes in no way warrants the solvency, financial condition, or investment advisability of any of the securities mentioned in communications or websites. In addition, Millionaire Media LLC and Timothy Sykes accepts no liability whatsoever for any direct or consequential loss arising from any use of this information. This information is not intended to be used as the sole basis of any investment decision, nor should it be construed as advice designed to meet the investment needs of any particular investor. Past performance is not necessarily indicative of future returns.

Citations for Disclaimer

Barber, Brad M. and Odean, Terrance, Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors. Available at SSRN: “Day Trading for a Living?”

Barber, Brad M. and Lee, Yi-Tsung and Liu, Yu-Jane and Odean, Terrance and Zhang, Ke, Learning Fast or Slow? (May 28, 2019). Forthcoming: Review of Asset Pricing Studies, Available at SSRN: “https://ssrn.com/abstract=2535636”

Chague, Fernando and De-Losso, Rodrigo and Giovannetti, Bruno, Day Trading for a Living? (June 11, 2020). Available at SSRN: “https://ssrn.com/abstract=3423101”