Great catalysts for biotech penny stocks this week!
Keep an eye on earnings winners, short squeezes, and biotech news…
But before we get into the watchlist, note this critical lesson from my recent trading mistakes … Think and act like a retired trader. Only come out of retirement for the absolute best trades.
You don’t have to trade all day every day.
I’ve had some recent losses — and all because I broke my own rules with forced trades and rushed entries.
I assumed a support level would hold on a dip buy … And when it broke through, it triggered a massive panic to the downside. I was too aggressive and I thought I knew what the stock would do…
You never know what a stock will do! That’s why I always try to react to a stock’s move instead of guessing. But this time I was overaggressive, too early, and took a sloppy trade.
And when my pattern eventually played out, I missed it.
But I got one part right: I cut losses quickly. That’s how I prevented a small mistake from turning into a huge disaster. Learn from my mistakes!
I share two of my losing trades in stock #1 on my watchlist.
Now, here are the top biotech penny stocks I’m watching this week…
1:39am study check, retweet/favorite this and let me know if you’re still up studying, reviewing your @StocksToTrade or making your watchlist for tomorrow…EACH NEW DAY BRINGS NEW OPPORTUNITIES SO HOW BAD DO YOU WANT TO SUCCEED?!? PREPARATION IS THE KEY SO DO NOT BE LAZY!!
— Timothy Sykes (@timothysykes) August 10, 2021
Top Biotech Penny Stocks to Watch
These are the top stocks on my watchlist. ‘Watch’ is the key word here. There’s no guarantee that there’ll be a trading opportunity. Remember, these stocks move FAST.
Before we get to my list of stocks to watch, here are a few of my top resources for penny stocks…
- If you’re new to penny stocks, start here with this FREE online guide.
- Ready to learn how to build your own stock watchlist? This post is for you.
- Discover how I find all the stocks on my watchlists here.
How do I find hot stocks? I use StocksToTrade every day. For me, it’s the best tool because I helped design it specifically for trading penny stocks. (I’m also an investor.) It has awesome charts, built-in scans, social media feeds, and so much more to help you do your research.
And its Breaking News Chat add-on feature is a game-changer in this hot market. It helped me make record profits in 2020.* Get a StockToTrade 14-day trial for only $7…
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Now, let’s get to the top biotech penny stocks to watch this week…
Biotech Penny Stocks #1: Therapeutic Solutions International, Inc. (OTCPK: TSOI)
TSOI develops therapies for a variety of diseases, as well as treatments for inflammation, aging, and sleep apnea.
The company’s JadiCell universal donor stem cell treatment for COVID-19-associated lung failure received FDA clearance for Phase 3 pivotal trials on August 5.
And on August 9 the company announced it completed preclinical experiments required by the FDA. The company hopes the FDA will grant clearance for Phase 1 and 2 trials for its treatment of chronic traumatic encephalopathy.
The stock had its first green day on August 5, after the news. I bought it after I saw the news alert in StocksToTrade’s Breaking News Chat.* I didn’t get the follow-up move I was hoping for and I cut the trade for a $149 loss. Then I dip-bought it later in the day but again I didn’t get a bounce and I sold for a $380 loss.
Now the stock’s consolidating between 6 and 8 cents since. I’ll watch for a breakout over 8 cents, ideally with another catalyst.
Biotech Penny Stocks #2: Regen BioPharma, Inc. (OTCPK: RGBP)
Regen BioPharma develops regenerative medical applications.
The stock’s a former runner. It recently had another multi-day run after the company updated its share structure and filings on the OTCmarkets website. It’s also getting a ton of attention on Twitter.
I’ll watch it for more potential upside and one of my patterns. But I’d like to see it trade more volume for a big move.
Biotech Penny Stocks #3: Phio Pharmaceuticals Corp. (NASDAQ: PHIO)
PHIO develops immuno-oncology therapies.
The stock had the attention of Twitter traders on August 9, after the company was granted a European patent titled RNA Interference in Ocular Indications.
It has a history of volatile moves … and a beaten-down chart. I’d like to see a news catalyst and more volume before I plan a trade.
Biotech Penny Stocks #4: CTI BioPharma Corp. (NASDAQ: CTIC)
This biotech company develops therapies for blood-related cancers.
After hours on August 5, the company announced second-quarter earnings. The next day the stock gapped up and spiked. It gapped up again the following day, then consolidated. I’ll watch this one for a dip buy into a big panic.
Biotech Penny Stocks #5: Outlook Therapeutics, Inc. (NASDAQ: OTLK)
OTLK develops potential treatments for eye diseases and vision loss.
The stock returns to the watchlist from last week. It had a huge gap up after the company announced positive Phase 3 data from its treatment for neovascular age-related macular degeneration on August 3.
It was on watch for a potential bounce to the upside. It had three green days and is now consolidating around $2.75. I’ll watch for a panic dip-buy opportunity.
(Past performance isn’t indicative of future results.)
Biotech Penny Stocks #6: Ocugen, Inc. (NASDAQ: OCGN)
OCGN’s another biotech that develops treatments for eye diseases and vision loss.
The stock’s in an uptrend since the company released second-quarter earnings and a business update on August 6.
As part of the company’s earnings call, chairman and CEO Shankar Musunuri said, “In June, Ocugen entered in an amendment to our agreement with Bharat Biotech that expanded our ability to develop, manufacture and commercialize COVAXIN into Canada in addition to our existing rights in the United States.”
On August 10 the stock had a multi-month breakout over $9 and made a high of $9.35. It’s not very volatile without the huge volume it traded in the past. I’ll watch for a pattern and swing for singles with any trades.
Biotech Penny Stocks #7: Orphazyme A/S (NASDAQ: ORPH)
This biotech company develops treatments for neurodegenerative orphan diseases.
ORPH opened at $4.24 on August 10 but quickly spiked to $6.50 in the afternoon. I don’t see any recent news on the company. It’s another former runner that had a huge short squeeze on June 10, when it went from roughly $5 to $77.
I’ll watch it for more volatility and one of my patterns. Ideally, the company will announce news and create even more squeeze to the upside.
Biotech Penny Stocks #8: IMV Inc. (NASDAQ: IMV)
IMV develops cancer immunotherapies and infectious disease vaccines.
The stock had a huge gap up on August 10 after the company announced topline clinical trial results for its ovarian cancer treatment.
Read the full press release here.
After the gap up, the stock didn’t hold its gains. I’ll watch for a dip buy into any intraday panic.
Biotech Penny Stocks #9: MyMD Pharmaceuticals, Inc. (NASDAQ: MYMD)
MYMD’s developing a clinical-stage small molecule to treat a variety of autoimmune diseases.
On August 10 the company announced that its subsidiary is preparing to begin clinical trials for its oral COVID-19 vaccine.
Read the full press release here.
The stock spiked following the news, but it’s another one that didn’t hold its gains. I’ll watch it for a dip-buy opportunity.
Biotech Penny Stocks #10: Xenetic Biosciences, Inc. (NASDAQ: XBIO)
XBIO develops treatments that target tumors.
It’s another stock returning from last week. I was watching it for a breakout or breakdown before planning a trade. The stock broke down but bounced on August 10 with no news.
It has a low float of roughly eight million shares, so I’ll watch it for a potential volatile move.
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I’ll say it again … The stocks on my watchlist aren’t an automatic buy. Remember to do your own due diligence and research. If you’re trading without a trading plan, you’re gambling. Don’t be a degenerate gambler — trade smart!
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Conclusion
Biotech penny stocks are stocks of small, developmental companies. These companies are usually desperate for cash. They need it to continue developing products and for testing and trials. Trade them with caution…
They’re known to be extremely volatile. They can have huge price swings. One minute they’re flying high on positive news — the next they’re down due to bad trial results, side effects, or stock dilution.
If you’re prepared to take advantage of the price swings, these stocks can offer great trading opportunities…
In my Trading Challenge chat room, my students and I talk about the hottest penny stocks. And many top traders who got their start in the Challenge are now chat moderators who answer questions and help out new students.
If you want to join a community of top traders, apply for my Trading Challenge. I don’t accept everyone. I only want the most dedicated students who are willing to put in the time and effort it takes to become my next top student. Could it be you?
What do you think of these biotech penny stocks to watch? Let me know in the comments … I love to hear from you!
Disclaimers
*Please note that these kinds of trading results are not typical and do not reflect the experience of the majority of individuals using our products. From January 1, 2020, to December 31, 2020, typical users of the products and services offered by this website reported earning, on average, an estimated $49.91 in profit. 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.
The post Top Biotech Penny Stocks to Watch — August 11, 2021 appeared first on Timothy Sykes.
