Examining Penny Stocks with Technical Analysis for November 2022

Technical evaluation (TA) includes the cautious examine of a inventory’s chart patterns and tendencies. Though this set of abilities could seem daunting at first, even rookies can incorporate a number of choose TA methodologies into their investing technique to nice success. TA could be particularly useful when predicting the actions of penny shares due to their volatility—supplied there’s sufficient buying and selling quantity to again up the patterns you are looking for.

Under, you will discover a record of some penny shares with fascinating technical setups. Bear in mind to maneuver shortly and exit your place if the inventory is not behaving the way you count on it to, as a result of this may increasingly imply that the development or sign has modified or failed.

New Shares to Watch

Compugen Ltd. (CGEN)

Compugen Ltd. (CGEN) is a micro-cap inventory within the healthcare sector. As a biotech firm, it engages within the analysis, growth, and sale of therapeutic and diagnostic biomarker merchandise. These embody proteins and monoclonal antibodies.

CGEN reached a excessive of $19.90 in August 2020. After that, it started a pronounced downtrend that it has but to recuperate from. The inventory’s value fell to a low of $0.66 in September 2022. It has been in oversold territory on the relative energy index (RSI) since January 2022. Though there’s nonetheless a chance that CGEN would possibly make new lows, the worth is displaying a optimistic divergence from the shifting common convergence divergence (MACD). As value is making decrease lows, the MACD is rising and thereby not confirming.

California Amplifier, Inc. (CAMP)

California Amplifier, Inc. (CAMP) is a micro-cap know-how firm with a market capitalization of $145 million as of Oct. 3, 2022. It’s engaged within the provision of wi-fi entry and laptop applied sciences.

In Could 2021, CAMP inventory started its rollover. From a excessive of $14.51, it fell to a low of $3.82 in September 2022. It must be famous that this low is across the prior lows of March 2020. Merchants ought to subsequently be watching fastidiously to see if the worth degree will maintain. If it does, because the optimistic divergence with the MACD suggests it would, this could possibly be the start of a rebound for this beaten-down inventory. Nevertheless, there aren’t any ensures in technical evaluation. The inventory must do much more work to show itself worthy of an extended place.

LiveOne, Inc. (LVO)

LiveOne, Inc. (LVO) is a digital media firm with a market capitalization of about $60 million as of Oct. 3, 2022. It engages within the acquisition, distribution, and monetization of varied types of media together with dwell music, web radio, podcasting, music streaming, and video content material.

On March 22, 2021, LVO touched a excessive of $6.95. On June 1, 2021, the inventory tried to check the prior highs however failed. This was to be the beginning of its present downtrend. The inventory fell to a low of $0.56 on Could 9, 2022. After a quick rebound, LVO appears to be retesting its prior lows. If the worth holds round present ranges, then this inventory could possibly be value one other look.

Nice Elm Group, Inc. (GEG)

Nice Elm Group, Inc. (GEG) is a holding firm within the monetary sector. It supplies funding administration and actual property administration providers. At a market capitalization of $60 million, it’s a micro-cap inventory.

GEG’s value chart is displaying that assist is holding. After retreating from highs of $2.50 in July 2022, the inventory fell sharply to a low of $1.82 in July 2022. Worth recovered barely and has been hovering round its 50-day shifting common ever since. This could possibly be an indication of accumulation. Ready for a breakout out from this sideways sample to determine on a commerce could possibly be an excellent technique.