🗲 6 hot penny stocks for Friday 🗲

Good evening, Lightning Alerts is a small cap day and swing trading newsletter. [Sale ends Friday](. The trade idea on ICVX worked and in fact, exceeded the upper end of the range, blowing through $15. The idea was that above $9 it had range to $15, of which the goal would be to try and get 10-20%. Remember, the goal is never to catch the top of the range, often it won’t hit that area. But the fact that the range was so big, keeps traders interested and that’s important so the runs are big enough to get 10-20%. In this case the pivot at $9 went to $16.45 which is 83%, but I can’t hammer this point enough, the goal is not the range, the goal is 10-20% inside the range. This 3-minute intraday chart shows the breakout at $9, subsequent bull flag at $13 and squeeze to $16’s before a head and shoulders reversal pattern was confirmed on that shooting star / gravestone doji. For reference, here’s the plan we laid out Wednesday. “ICVX - News winner Wednesday that closed right at the high just off major resistance. If it trades above $9 on Thursday I’ll be looking for continuation of the breakout, which has range to $15. Otherwise it’ll be monitored for consolidation in a bull flag just below resistance, or a base trade just above the blue line, both of which would be a sign the next leg could take it to $15. It’s very overbought now with an RSI of 93.91 and is down a little in the after hours but let’s see where it’s at come open Thursday. The company has 35.5 months of cash left based on quarterly cash burn of -$17.56M and estimated current cash of $207.6M. Overall offering risk according to Dilution Tracker is medium. Resistance must be broken for this trade to be considered. To me that’s $9 and then if it moves away from $9, the stop loss is just below $9. One could be more conservative and wait to see if it breaks $10.67 but I think if it shows $9, having an entry there allows for more range to $15 and a tight stop below $9 if the attempt fails.” Last thing to point out here is anytime a stock makes a monster move like ICVX did Wednesday and closes at the high just off resistance, it’s very likely to run again the next day so long as it opens at or around the closing price. In this case it opened lower due to the overall market drop, but quickly worked back into the gap, pivoted across $9 and off it went. No trades on this one now, once they fire, the opportunity is not as predictable, even if it retraces to $9. It’s like a piece of bubble gum that’s lost its juice. Once lightning strikes, it’s not likely to show up in the same spot a second time. SMMT - This is my favorite setup headed into the weekend. The /RTY (Russell futures) was hit pretty hard Thursday and SMMT moved up 10%. This is a bull flag which suggests it’ll run another $2 if / when it pivots at $4. I’ve drawn Fibonacci retracement to show you how strong it truly is. Fibonacci shows you demand during consolidation. The way it works is if price hangs around the 38.2% retracement support, it means there’s very strong demand at a high level or small retracement. If there’s high demand at a high price, people want in the stock for some reason and the subsequent breakout is more likely. Anything above 61.8% is considered bullish. Whereas a pump and dump would break 61.8% support and move toward the starting point of the rally. This means SMMT is very strong, has more buyers than sellers and traders seem willing to pay more than $3.08 to be in for the next move higher. The flag pole is about $4, so look for about $2 of range if it runs above $4, making $5-$6 the range, of which the goal is 10-20%. The company has 20.9 months of cash left based on quarterly cash burn of -$15.59M and estimated current cash of $108.6M. According to Dilution Tracker the risk of an offering is medium. Fibonacci retracement is a method of technical analysis for determining support and resistance levels. It is named after the Fibonacci sequence of numbers, whose ratios provide price levels to which markets tend to retrace a portion of a move, before a trend continues in the original direction. AMAM - This is another Fibonacci retracement play. The company has 13.7 months of cash left based on quarterly cash burn of -$20.1M and estimated current cash of $92.0M. Like SMMT above, Ambrx was able to fight through the headwind of a very bearish market Thursday which tells us there aren’t any sellers left. Assuming they don’t show up Friday, this could squeeze to $3 of which 10-20% is the goal. Alerted at 11:53A ET Thursday morning, the price went from $2.13-$2.44 or 15% but was not able to get through $2.50 resistance. Let’s watch $2.50 Friday because if that level breaks, $3 looks reasonable for range. Historically they do not raise their outstanding shares often, which puts the risk of an offering at medium, according to Dilution Tracker. Video lesson: [AMAM Daily Strike 3-minute recap]( → Daily Strike is included in [Lightning Alerts](. It’s a live stream from my home office 7-9A ET and is my top trade idea in the premarket. In the lesson above, we caught AMAT on the first day of the move last week in the $.50’s before it rips to $4’s. PHVS - Sticking with the theme, another breakout that’s settled into Fibonacci retracement, which is a method of technical analysis for determining support and resistance levels. It is named after the Fibonacci sequence of numbers, whose ratios provide price levels to which markets tend to retrace a portion of a move, before a trend continues in the original direction. The company has 38.5 months of cash left based on quarterly cash burn of -$14.34M and estimated current cash of $184.1M. Their cash need here is low leaving the risk of an offering medium according to Dilution Tracker. This is another fantastic looking chart headed into Friday. Short sellers pay expensive fees on hard to borrow stocks like this and tend to cover those shorts before the weekend, especially if the stock heads higher. Like the others above, Pharvaris was actually green (okay light green) against a very bearish market Thursday. Because it has held onto 50% retracement, if an offering doesn’t land to save shorts, it could seek and destroy them at the recent high of $12. Goal on a move higher is 10-20% within the range of $10.  Lesson: [PHVS Daily Strike 3-minute recap]( → Daily Strike is included in [Lightning Alerts](. It’s a live stream from my home office 7-9A ET and is my top trade idea in the premarket. In the lesson above, we caught PHVS on the first day of the move last week in the $3.50’s before it rips to $11’s. HOTH - Oversold stocks usually don’t do offerings into weakness but when it comes to penny stocks, the more information we have the better so let’s examine their cash position. The company has 13.0 months of cash left based on quarterly cash burn of -$2.25M and estimated current cash of $9.7M. They split the stock recently to regain Nasdaq compliance. Now the float is tiny at 590K, not even 1M. Dilution risk is medium according to Dilution Tracker but again, I don’t see a lot of stocks doing offerings in breakdowns unless they are really desperate, so with 13 months of cash, I feel okay there. This is a pivot trade much like ICVX (see above) in which it closes strong right at a key resistance point, which if broken, opens up range to $6’s and maybe a gap fill to $8’s. If this is above $4 Friday it could float higher again. Volume a little low for my liking but just enough to keep me interested. I have a lot of lessons on oversold stocks in the dashboard so [check them out]( when you have time. CDZI - First mentioned on Wednesday December 14 when it broke the $2.48 resistance, I still like CDZI. No changes to the game plan here. I think it trends to the middle $3’s. I was happy to see it hold $2.50 today when the markets were selling off. That tells me nobody is in a rush to send it back down. It’s not likely to be as exciting as some of the Fibonacci setups above (assuming any fire into breakouts) but I do like some calm trending stocks to balance the more volatile setups. Stop loss is on a close below $2.47. Nice range between $2.50 - $3.50 on this one, goal is always 10-20% within the range. NEON - I like this company and was frustrated with myself that I didn’t see the nice higher low setup at $4.50 develop for today’s bounce. So this trade isn’t as straightforward as I’d like at this point, but still worth watching because I think there’s going to be an attempt at the $6.50’s. See the $4.50 pivot point on the chart? That’s good support and if you see a stock moving off of it, especially one that just ripped a few weeks ago, it could very well rip again and it did. You never know when it might do this, but when it reaches that support level, the odds go up it could explode again. The company has 15.3 months of cash left based on quarterly cash burn of -$1.9M and estimated current cash of $9.7M. According to Dilution Tracker their overall risk of an offering is medium. [Chat room]( --------------------------------------------------------------- Into Christmas I will be operating the newsletter normally, however, I’m taking a little time off trading myself to put an emphasis on education headed into 2023. I want you to get a lot out of my newsletter in 2023 so please take some time and read how it’ll operate in the notes below. In a few days I’ll start taking trades again, and when I do, I’ll make that crystal clear. --------------------------------------------------------------- Trading is a very emotional pursuit. I strongly recommend reading [Trading In The Zone]( and [The Disciplined Trader]( to help think objectively about your trades. Both books are by Mark Douglas and come with my highest book recommendation I could give you. The live stream chat room schedule is 7-11A ET and 2-4P ET daily. The main topic centers around day trading. The newsletter schedule is 8P ET nightly, 12P ET daily, and 2P ET Friday (MondayMovers). The main topic centers around swing trading. Day trades are alerted in the [live streaming chat room](. The goal on all day trades is 10-20% unless otherwise noted. Stop losses are based on technical analysis. Swing trades are alerted in the live streaming chat room, RagingBull APP, and email in that order. The chat room and APP alert delivers instantly and at the same time. The email alert is slower to arrive. For swing trades, I buy after subscribers have been alerted. This means once the email lands in my inbox, I look to buy or sell. For you to receive a swing trade alert from me, a trade plan must have been discussed in the newsletter first. The goal on all swing trades is 10-20% unless otherwise noted. Stop losses are based on technical analysis. Long-term trades are alerted by email before I buy. For you to receive a long-term trade alert from me, a trade plan must have been discussed in the newsletter first. The goal of long-term trades is 50%+ unless otherwise noted. Here are [25 terms]( you should know. Please let me know in chat if I’m missing anything or you have clarifying questions. Stocks tend to move in 3 patterns. The way I visualize this is in breakdowns (fishhook), continuation patterns (bull flag / pennant), and breakouts (rocket). This chart on MANU is a good visual of how I see the market i.e. fish hooks (blue), pennants (black), and rockets (green). Breakdowns and breakouts are my favorite because they present the most volatility and range in both directions. Fishhook a.k.a. Breakdown chart pattern. The fishhook pattern emerges on a sharp downward move in the stock price through support on heavy volume and tends to be quick in duration and severe in magnitude. Excellent for Swing Alerts. Pennant a.k.a. Continuation chart pattern. A pennant will have a period of consolidation inside the triangular flag shape on lower volume followed by a breakout, outside the triangular pattern, on higher volume. Excellent for Swing Alerts. Rocket a.k.a. Breakout chart pattern. A rocket is when the stock price moves outside a defined support and resistance level with increased volume. Enter long on a break above resistance or short on a break below support. In penny stocks, breakouts are often accompanied by dilution which for the most part, destroys the momentum. I use [Dilution Tracker]( to gauge offering risk. Excellent for Lightning Alerts. To better understand day and swing trading chart patterns I recommend [The Candlestick Course](. It is not wise to try and mirror my trades. And it’s especially unwise to chase trades. There is nothing wrong with us being in the same trades but remember, I am not a financial advisor, my results aren’t typical, I likely have more experience than most, and my tolerance for risk is high. Instead of mirroring I’d like you to learn from what I’m doing and create your own trade plan. Trading is hard and most traders lose money. Those willing to work at their trading are most likely to get better at trading. Those looking to get rich quickly will likely blow up their accounts. I had a good year in 2021 and a bad year in 2022. In an effort to be as transparent as possible, whether I have a good or bad year in 2023, I am committed to live streaming my open day, swing, and long-term positions during the day and publishing my statements at the end of each month for all to see. I hope to have a very, very good year. I hope you have one too. You can learn more about Lightning Alerts [here](. Jason Bond RagingBull, LLC 62 Calef Hwy. #233, Lee, NH 03861 [Manage your email subscriptions.]( DISCLAIMER: To more fully understand any Ragingbull.com, LLC ("RagingBull") subscription, website, application or other service ("Services"), please review our full disclaimer located at [(. 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