Pre Market Prep- Stock Market 8/6/21

Interesting way to end the week…

Bitcoin (BTC) held through the night over $40,000. It could be an interesting day for crypto stocks...

There were also some very pro-electric vehicle (EV) headlines yesterday afternoon.

I’ve said it before — the 2020 EV run was the hottest and longest-lasting sector I’ve seen in my 15 years of trading. The sector has slowed down, but I don’t think it’s over.

Could the recent news be the start of the next wave? Only time will tell...

Here’s what I’m watching today…

One of my top watches is Bit Digital Inc. (NASDAQ: BTBT). I thought it had a decent chance to run after hours yesterday, but it stayed choppy.

As of the premarket, there was some nice basing action right near VWAP. I’d love to see a weak open red-to-green or a VWAP hold in the afternoon…

A follower asked about Athersys Inc. (NASDAQ: ATHX) over $1.80. They just dropped a press release, and there have been some runs in the past. But given the fairly high float and relatively small scale of its past runs, I think there are better picks out there.

How about Plug Power Inc. (NASDAQ: PLUG)? As of the premarket, it was pulling back to VWAP. It has a lot of overhead resistance.

But given the recent press that EVs have been getting, I think all EV plays have multi-month breakout potential. I think PLUG could be a breakout over $29...

I’d never heard of EV play Microvast Holdings (NASDAQ: MVST) before someone brought it up this morning. I looked up the company on Google Street View — don’t miss my rant about their headquarters!

As a potential trade, I’m not super impressed. It’s got potential as a high float dip and rip, but it’s really not my top pick.

Kaixin Auto Holdings (NASDAQ: KXIN) is another fairly high float EV play. It’s a sketchy company, but I think it’s a better dip and rip contender than MVST...

I love it when stocks hang around all week. Beyondspring Inc. (NASDAQ: BYSI) was spiking in the premarket — but I couldn’t tell why. Maybe a chat pump?

Given its excellent week of spiking and the fact that it’s held up all week, I think it has the potential to run today...


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[petermelvin]

BYSI - Great call - I am always confused on these day 3, 4 or 5 moves... Keep it coming Tim! You have helped my education and trading!

[BernabeNCGarcia]

I hate how low you set the studio levels for the replays. Please keep the studio levels higher. If the level is too high for some listeners they can always LOWER the volume. For those of us with bad hearing we cannot RAISE the volume enough!

Please! Be ADA friendly!!!!

[mannysingh]

JJ is lying about his background. he was probably a janitor for a big firm. i tweeted him too. his actions doesn't match with his words. shame on stockstotrade for pulling off a cheap ass stunt.

[COD_VIK]

Not the bros I'm trying to be consistently profitable