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New Penny Stock Picks For Apri


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New Penny Stock Picks For April

6. Legacy Reserves LP (LGCY


Legacy Reserves LP (LGCY

) stalled in the low-30s in 2011 and tested that level for more than three years, ahead of a vertical decline that bottomed out at 61-cents in March 2016. It bounced to $3.89 a month later and eased into a broad consolidation pattern, finally turning higher once again in December 2017. The stock finally broke out above the April 2017 high this week, entering a trend advance that could now reach the broken January 2015 low just above $8.00. Pullbacks to the $4.00 to $4.10 zone should offer potential buying opportunities. 


7. Luna Innovations, Inc.(LUNA


Luna Innovations, Inc. (LUNA

) bounced to $5.00 in 2010 after hitting an all-time low at 26-cents during last decade’s economic collapse. It spent the next six years carving a rounded correction that found support just under a buck in early 2016. The stock turned higher into January 2017, stalling at $2.33, ahead of a December breakout that’s now reached a 4-year high. This positive price action may now support a critical test at 2010 resistance. Conservative players looking for a low-risk entry may need to wait for a decline into the 50-day EMA, now rising from $2.50.


8. Harmony Gold Mining ADR (HMY


Harmony Gold Mining ADR (HMY

) nosedived in the second quarter of 2012, entering a significant downtrend that posted an all-time low at 53-cents in November 2015. It surged higher into August 2016, reversing at $4.87 and rolling into an intermediate correction that bottomed out above $1.50 in the second half of 2017. The stock just broke out to an 11-month high above $2.50 and could eventually lift into the 2016 high, rewarding patient bottom fishers with opportune profits. 


9. Quest Resource Holding, Corp. (QRHC


Quest Resource Holding, Corp. (QRHC

) hit an all-time high at $49.60 in June 2014 and pulled back into the upper-20s. It then lost 14-points in a September gap, entering a brutal decline that continued into September 2017 when it hit an all-time low at $1.03. The stock gapped higher on November 15, lifting to a 52-week high at $2.91 and entered a trading range between $1.90 and $2.65. It’s now pulling back from range resistance and could find support at the 200-day EMA just above $2.00, ahead of a more forceful breakout attempt.


10. Histogenics, Corp.(HSGX

Histogenics, Corp. (HSGX

) came public near $12.00 in December 2014 and posted an all-time high in the first session. It then entered a persistent decline, finally bottoming out at $1.39 in May 2016. The stock tested that support level three times in 2017 and turned higher in January 2018, reaching a 52-week high at $3.35 in March. It could build on those gains in coming months, initially targeting the September 2016 high near $4.50. Declines should hold above $2.30 at this point, with that level marking a potential buying opportunity. 


The Bottom Line

When investing in penny stocks always employ conservative risk management skills. Wait for pullbacks to support and take trade entries with relatively tight stop losses when trading low-priced securities. Penny stocks are high-risk investments that can sometimes yield significant rewards.

Read more: Penny Stocks to Watch for April 2018 | Investopedia
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1 hour ago, md11fr8dawg said:

Thanks BA, did you get a few shares of these? The Crow's Nest recommended Liberty Health Sciences, Inc (OTC:LHSIF). It is one of the stocks he thinks will do well in the upcoming legalized Pot Industry. You might want to take a look and research.


I haven't looked into any of these yet, but thanks for the heads up on Liberty. I will certainly look into it.



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