This Penny Stock Could Take Off 🚀

[Image](www.elitetrade.club) Good Morning! Hey, there! It's Chris from Elite Trade Club, here to give you this morning's premarket trading news. Today is Tuesday, November 22nd. I hope you have a great day. Let's get ready to trade! Markets 📈 The Nasdaq fell 1.0% on Monday and led the day's declines, while the S&P 500 lost 0.3%. The Dow fared slightly better with a 0.1% loss, and the small-cap Russell 2K fell 0.5%. Today, futures are hovering around a 0.1% gain in early-morning trading. S&P 500 contracts are up 0.1%. Sponsored [This Penny Stock Could Take Off]( 🚀 This up-and-coming stock could be on the doorstep of a potential breakout rally. The market is beginning to take notice as this tiny company continues to execute and grow its revenues. Better yet, it's also demonstrated a knack for technical innovation that could give it a tremendous competitive advantage. Share prices are showing strong support potential at their current levels, and it could be an ideal entry point for a swing trade. [Get the Ticker Here & See for Yourself]( Premarket Highlights 🔎 💸 Home Sales to Investors Fall: Investor purchases of homes have fallen 30% in Q3, as rising rates continue to take steam out of the US housing market. What to Watch Today 👀 Holding Pattern Stocks seem to be locked into a bit of a holding pattern this week. It seems like investors are waiting for the next shoe to drop. Reports of rising COVID-19 cases in China sent markets lower on Monday, but not by much. It seems like investors are in wait-and-see mode ahead of the Thursday holiday. International 🌍 Asia Japan's Nikkei 225 added 0.6% overnight while Australia's ASX 200 gained 0.5%. Hong Kong's Hang Seng Composite lost 1.3% on the day. Europe The UK's FTSE 100 is up 0.6% midway through the trading session, and the Italian FTSE MIB is up 0.5%. The Euro Stoxx 600 is carrying a 0.4% gain. Major Earnings 💰 Medtronic Plc. [MDT] ... AM Analog Devices, Inc. [ADI] ... AM Dollar Tree, Inc. [DLTR] ... AM Baidu, Inc. [BIDU] ... AM Best Buy Co., Inc. [BBY] ... AM Warner Music Group Corp. [WMG] ... AM Burlington Stores, Inc. [BURL] ... AM Dick's Sporting Goods Inc [DKS] ... AM Vipshop Holdings Limited [VIPS] ... AM Luckin Coffee Inc. [LKNCY] ... AM Hp Inc. [HPQ] ... PM Pagseguro Digital Ltd. [PAGS] ... PM Economy 🏗 - None. Running Hot 🔥 Gainers - Cosmos Holdings [COSM] >> +13.2% - Transcode Therapeutics [RNAZ] >> +21.6% - Staffing 360 [STAF] >> +16.8% Decliners - Gamida Cell [GMDA] >> (25.8%) - Hillstream Biopharma [HILS] >> (14.7%) - Ebang Intl [EBON] >> (14.0%) Best Buy Inc [BBY] - Last Close: $70.83 Best Buy is trending after posting a strong quarterly report. The electronics retailer announced its Q3 results in the early hours of the morning, and investors liked what they saw. Best Buy posted EPS of $1.38 on revenues of $10.59 billion to beat the consensus estimate of $1.03 EPS on sales of $10.31 billion. The company also forecasted that its full-year comparable sales will fall by 10%, which was an improvement over its previous 11% forecast. BBY is leading the S&P 500 with a 7.5% gain on active trading volume. My Take: BBY has been trending higher since the end of Oct, but it's still facing stiff resistance at the $80 mark. It hasn't broken through those levels yet, but today's rally could put it on the right path. OncoSec Medical Inc [ONCS] - Last Close: $4.85 An upbeat analyst note is giving OncoSec Medical a boost. Yesterday afternoon, Refinitive/Verus resumed coverage on OncoSec Medical with a "buy" recommendation. A price target was not included with the note, but the bullish rating seems to have sparked a move in share prices. ONCS gained 42.2% on Monday, and it's up another 29.9% in today's premarket on high volume. My Take: The analyst note may have been the catalyst for ONCS's rally, but there could be more than meets the eye here. Traders may be targeting the stock with a Reddit-style short-squeeze blitz, although the stock only has a short rate of 7.7%. Monopar Therapeutics Inc [MNPR] - Last Close: $2.52 Monopar Therapeutics is also moving higher on an analyst upgrade. An analyst at Refinitiv/Verus upgraded their rating on MNPR from 'hold' to 'buy' on Monday afternoon. The stock has been on a wild ride since the start of November, but it took a 20% hit last week after announcing disappointing drug data. The analyst upgrade seems to have given shareholders a brief reprieve. Shares of MNPR are up 21.0%. My Take: Not sure what is going on with this move. It's possible that the stock's recent downtrend was overextended and this is a correction. Despite the stock's wild price action, it's current up-trend is still intact. ObsEva Inc [OBSV] - Last Close: $0.1657 Shares of ObsEva are rallying on news of a major windfall. The biopharma firm announced this morning that it has sold an Ebopiprant royalty and milestone licenses to XOMA for up to $113 million. ObsEva will receive $15 million upfront, and it's eligible for another $98 million in milestone payments under the terms of the deal. The sale will provide ObsEva with enough case to settle its over-indebted position and to withdraw its pending Swiss moratorium proceedings. ObsEva is also expected to regain its compliance with Nasdaq stockholders’ equity requirement for continued public listing. OBSV is up 55.4% on the news, and it's this morning's most active premarket stock. My Take: ObsEva was having cash problems, and this deal came just in the nick of time. However, it's not entirely clear where share prices go from here, although today's rally is on course to put it past resistance at $0.2250. That's it for today! Thanks for reading, and good luck out there! Best Regards, Chris D. -- Elite Trade Club P.S... If you're on the hunt for a new broker, check out our preferred partner, moomoo! You can [get 15 free stocks]( worth up to $2,000 each if you join the moomoo App now. [Click here to get started.]( P.P.S... Want alerts delivered straight to your cell every morning for free?* Text ELITE to 47121 or [click here]( to sign up now and get our watchlists sent directly to your phone! Or text CLOSE to 47121 to get on the mobile alert list for our Closing Bell Roundup report, featuring the day's top winners and losers. *Standard message/carrier rates may apply. Legal Stuff: Stocks featured in this newsletter are for entertainment purposes only. You should not base any investment decisions on information contained in my newsletter. Stocks featured in this newsletter may be owned by owners/operators of this website which could impact our ability to remain unbiased. 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