Pennies To Thousands Material About To Breakout On Weekly CloudIn our book Pennies to Thousands we look for low price cost stocks that trade above $1 up to $8, the reason we like this type range is because there maybe some research but the institutional research is light in this area. The reason we don't include stocks under $1 is we believe there are too many stocks promotions and scams in the sub - one dollar area.
We also like stocks in growth industries. This stock meets our strict standards of technical analysis like.
On a daily chart: It is above the cloud, above the 50 and 200 day moving average, it is above the 8 EMA which we call the goal line, the MACD crossed, the Relative Strength Index set to 2 is above 80 and the PVT is sloping upwards and positive.
On a weekly chart: It is setting up to come out of the weekly cloud. These are the type of candidates along with fundamental analysis that we look for as our potential multi baggers.
In our book, which you can buy on Amazon (www.amazon.com) we have strict entry and exit rules, please read them. Thank you
