Hey guys,
Hope everyone is having a great start to the year.
I've been watching a lot of different stocks, and my friend and I have been discussing the possibility that pennystocks are back. My main reason for thinking this, now, is because of PRTY going up 117% today and going up another 32% after hours.
The last time I read about Party City, they were filing for bankruptcy. Which is obviously a very bullish sign for a stock? lmao
My Positions and Why
MARA is the stock that I bought in 2020 for $0.80 and then it went up to $83. They mine bitcoin and when bitcoin goes up, this stonk goes up. I'll try to hold this long term.
CENN
As you can see, it's bounced 68% from it's lows. It's also making bullish consolidation patterns. This is an easy trade for me because the stop loss and take profit are pretty clear to me. I'm taking a small risk here and I'll exit if the stock starts creating bearish engulfing candles or other bearish patterns. Perhaps the 'altcoins' of EV will have a great year this year.
MULN
This chart is looking really good to me. It looks like it's about to moonshot up above $0.50 somewhere. My stop loss is probably too tight, and my take profit might be too conservative, but I think there's a lot of potential for this stock to move up. I'll never go all in until they complete that reverse split though.
I don't own any PARTY CITY, but I'm definitely watching it for some juicy day trades now.
TQQQ is just a bullish market position. Idk how long, but it looks like the market wants to ride into tendie town.
Let me know your bullish or bearish sentiments on these stocks. I mainly focus on the charts so I'm curious if you guys know of any upcoming news events that could be catalysts.
Cheers bros.
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