In this article, I will be writing a detailed description of the penny stocks to watch for July 2020. So you are welcome to read this article through till the end, so as to find out the stocks to watch out for from both sectors, as the top penny stocks to watch in July.
What are Penny Stocks?
Penny Stocks can be described as micro and nano-cap company stocks that trade for less than $5 per share. Many Penny stocks are traded via OTCMarkets, however, penny stocks can also be found on large exchanges like the NYSE and Nasdaq.
Tips on How to Choose the Best Penny Stocks
Here are things to look out for while watching for the best penny stocks:
Search for a New Catalyst
This simply means, looking for what is making the stock move. These catalysts can be a press release announcing a new contract, positive earnings, etc.
Search for Big Volume
One of the things you search for when choosing the best penny stocks to watch is the trading volume. This is because, sometimes stocks gain momentum and spike big even without news, mostly where there is enough volume.
Look out for Big Percent Gainers
Start by looking for the biggest percent gainers. To do this, you can create custom scans, to help you search for the biggest gainers.
You can Use the Twitter Scanner on StocksToTrade
This will help you understand which penny stocks to watch, and is also one of the best ways to see what others are watching or hyping. You can use StocksToTrade as the scanner is built-in and all you have to do, is open the Twitter scanner and instantly you get a running feed of stock tweets. You can customize the feed if you want.
Penny Stocks to Watch for July 2020
Silvercorp Metals Inc. (SVM)
Silvercorp Metals as of June was up 20%, and it is believed that the uptrend will continue strongly over the remainder of 2020 and even into 2021.
Flexible Solutions International Inc. (FSI)
Also, flexible Solutions International Inc. is a chemical manufacturer. This company was up 17% over the past month and 47% over the past quarter, as at the time of writing. As a strong performer that has brought substantial triple-digit profits before, it is believed that prices will keep tracking higher, but in the shorter time frame, a decline is expected.
Harte Hanks, Inc. (HHS)
Furthermore, Harte Hanks Inc. (HHS) is a digital marketing firm. This company was up 37% over June. It seems Harte Hanks stock may already be starting to return some of the gains it accumulated over the past couple of months at the time of writing this article.
IAMGOLD Corporation (IAG)
Since May 2020, IAMGOLD (IAG) has been on the list of penny stocks to watch. However, since the stock is even more oversold, it has necessitated bringing it up again. IAMGOLD still has so much untapped potential, judging from the gold prices that are soaring amid the rising coronavirus pandemic rates, and more expectations of more Fed money being pushed into the system.
Americas Gold and Silver Corporation (USAS)
Fortuna Silver Mines Inc. (FSM)
Fortuna Silver Mines Inc. has risen considerably meteoric 97% over the past quarter. Thus it has become one of the penny stocks to watch in this July 2020.
Are Pennys Stock Worth It?
While most pennys stock are suitable as trading vehicles, it is not for long term investments. This is because most pennys stock companies eventually fail. This is why you should stay updated, and be on the lookout for what’s trending.