This is my personal list of penny stocks that I’m watching, due to the high chance of them exploding in 2014. I think these penny stocks are strong, and have great news coming that will boost them into huge stocks, but I do advise you to do your own research and buy at your own risk. Penny stocks can explode at any time, and make you unbelievably rich, but they can also sink just as fast, it is very important that you invest wisely.
2014 is an exciting year for penny stocks, partially due to the inflated stock market, which makes penny stocks more desirable for fast gains, like day trades and swing trades. 2016 is also an interesting year due to the good chance of marijuana being legalized in more states, making the new marijuana stocks a good bet in 2016. lets take a look at some of the penny stocks I think are about to explode.
#1 RDX Technologies
This is currently my favourite pick. Odds of RDX Technologies exploding into the $2 plus range are very high. Currently this stock is trading around the .25 cents mark. RDX is in a very strong position at the moment, with new owner Denis Danzik. The stock price is very undervalued and is poised for a big jump. This would be a good stock to swing trade, or even hold for long term. RDX Technologies is in the water cleaning business, which is in huge demand at the moment. If you look at the chart on this one, you will see that it has clearly bottomed out and on a very strong up-trend.
Update: 3 days after I wrote this article, RDX skyrocketed up to .55 cents. My invested money has now more then doubled. I’m going to wait longer before selling, as this stock is poised to hit the $2 mark by this summer 2016.
#2 MJNA:US Medical Marijuana Inc.
This is a very speculative buy, but one that can be ridiculously profitable, especially for a short term swing trade. This penny stock is currently around the .31 cents mark, I’m waiting for it to dip back down to the .10 cent mark before I jump in, and hopefully ride a rebound up. Or you can buy the stock at this price if you really believe that there will be good news in the marijuana legalization sector. If you bought this stock at its current price and then marijuana was fully legalized, the stock would explode! You would become an instant millionaire from MJNA:US. The chart for this stock is super volatile and shows no indication of future direction.
#3 MWIP:US MediSwipe Inc.
This is also a marijuana legalization bet stock. MWIP:US, also known as Mediswipe, is a services company providing a means for medical marijuana buyers to purchase their goods. This may be a safer long term bet then MJNA, because they are more involved with the medical side of cannabis, rather then recreational. Although this stocks would also explode if cannabis was fully legalized. Both of these marijuana stocks move up and down with the same news.
#4 LightPath Technologies LPTH
This company manufactures collimator assemblies and gradium glass products. I like this one because it has gained a lot of exposure in the last few weeks, its looking promising. The volume has also increased a lot, which shows the amount of interest in this stock. I also like the technical indicators on the chart for this one, very steady and solid. This stock has a big chance to explode, but it is not a top choice for me, due to the technicalities of the business that I do not fully understand yet.
#5 Echelon Corp. ELON
This company creates networking solutions for programs, so that they can be used together. They produce computer nodes that can be linked together and used across a variety of computer systems. Slightly complicated description on this one, but the buzz is undeniable, and the chart looks good. This stock also had a recent explosive spike, jumping from $2 a share to $4, it then levelled out and is sitting at around $3. If you want to buy this stock it might be best to wait and see if it sinks lower, then buy it, although the chart is very solid and consistent, so that may never happen.
Whats Your Best Bet For 2014?
Out of these 5 stocks that have a great chance to take off, I would highly recommend the first 2, as i feel they have the best chance to explode into something quite interesting. Do your research on them, and make sure you place a stop when you buy, to limit your losses (just to be safe). Although it may be tempting to dump your savings into a penny stock, I would recommend that you don’t do that. These are promising penny stocks, but anything can happen on the market that you don’t expect.