Stocks to Watch March Week 1
These are the top stocks to watch for the first week of March 2021. These picks should be taken as opinion, and are not financial advice. Do your own research and TRADE AT YOUR OWN RISK.
BTC Plays (MARA/RIOT)
In the above we see that BTC itself has broken out if its downward trend. We see positive price action above the green (9) SMA line as well as a crossing of the MACD on the 4h chart.
MARA/RIOT-
You can either trade BTC itself but if that is not possible or you just don’t want to do that, both MARA and RIOT have both seen big run ups correlated with BTCs. These plays should both see some action early in the week.
TIME FRAME-
Recommend time frame for trade is either day trade or multiple day swing trade. Although I believe that BTC will continue to run up all throughout 2021 as it becomes implemented across businesses, it will be very volatile and we should play off of the dips in order to maximize profits.
QQQ/SPY
As the market was beat down the last couple trading sessions, there are opportunities to take advantage of. QQQ is the ticker for the Nasdaq, similar to the SPY or the DOW in that it shows a representation of the larger market. The difference between them varies but the Nasdaq relies more heavily on tec stocks, and those stocks got beat down extra hard this last week. AAPL hit the support line that we have drawn in the above image. These two don’t really need much explaining and we expect them to constantly reach new all time highs as time goes on.
TIME FRAME-
These Stocks will go up over time no matter what. I would Recommend holding these for at least 6 months, our you could play some shorter term options if you are bullish on the market as a whole.
CLOV
CLOV (Clover Health Investment Corps) was a former SPAC that ran to $18 on merger announcement and has been beat down bad sense the beginning if 2021. This beat down was in part to a short seller report published by Hindenburg that you can find here. Within this report there was very few things that I disagreed with, the issue was, that what was pointed out applies to almost everyone within their space. Earnings for CLOV come out on the first of March. If there starts to be some buying pressure, and if we can break out of the upper trend line shown above we should see a run in the near term. This stock should be trading at $15-$20 again within 2021.
TIME FRAME –
If there is a breakout above the upper trend line we could see a very short near term gain. I do believe that this stock will run to $20 at some point so it comes down to how long you want to have your money locked up and if you can play the run correctly.
Short term- 1 Month
Long term – 3-6 Months.
Other Plays
WKHS- Workhorse was beat down over 50% after news broke that they did not get the USPS contract. This decision is being pushed back in the House of Representatives as they would like the USPS fleet to become electric sooner rather than later. I believe that the beatdown was an over reaction as the company has shown some good results recently as far as partnerships go. Current price is almost to good to pass up
UVXY- If the market continues to be bearish as we saw the last few weeks this is the play. This ETF goes up when the market becomes volatile (Usually when the market goes down). This is only recommend for day trading or a few day swing trade as it naturally decays over time. What this means is that if you were to hold this for a year you will 100% lose money, it will never reach. new all time highs.
Closing
As always I recommend that people do there own research onto companies. If you see what I see that’s great, if not, don’t take a position. We are all just trying to make money :).