Expect Fast Doubles on These Two Penny Stocks

Amazon.com Inc. (NASDAQ: AMZN) investors went through almost two and a half years of thrills, chills, and spills before AMZN rose from $1,000 to regularly trade above $2,000.

Who needs the stress? Who needs the wait?

I don't, and neither do you - not when there are hundreds and hundreds of small stocks out there, trading anywhere from a couple of cents to a few dollars that have the potential to double in days, or even hours.

I'm constantly scanning the over-the-counter markets, where the penny stocks live, applying the "Best in Breed" technical screeners that have delivered plenty of gains for my readers to locate the best low-dollar profit opportunities on the market.

I've got two for you today...

Move on These Penny Stocks Right Away

A small, small company called Medical Care Technologies Inc. (OTC: MDCE) is flashing lots of green at me right now.

This early development-stage company is based in Hong Kong, and it owns and operates multiple integrated children's health and wellness centers in China, where healthcare is a $960 billion industry that's growing fast.

The stock is currently trading for right around $0.01. The stock got its first kick in early May 2020, when it moved from $0.01... to $0.02. A cent. The stock moved one cent, but handed investors a 100% profit.

Now it's doing it all over again.

I like the break of the Bollinger bands (pink lines) on Friday, as the stock was moving back above its 50-day moving average (MA), represented by the green line.

Really important: Volume is on the rise again as well, which indicates the "crowd" is back on the radar - which is important, according to my 10 Commandments of Trading Penny Stocks.

A Bollinger band break, rising moving average, and increasing volume? This stock has all the makings for a breakout back toward a target of $0.03.

And that move will translate to a 100%-plus jump in the stock - a stock-level increase that you won't catch in the NYSE or the Nasdaq.

I'm seeing similarly favorable conditions in yet another penny stock right now.

Now, unless you've been sequestered from a computer or television for the past seven years, you know cannabis companies are all over the OTC markets. Curaleaf Holdings Co. (OTCMKTS: CURLF), Trulieve Cannabis Corp. (OTCMKTS: TCNNF), Harvest Health & Recreation Inc. (OTCMKTS: HRVSF), Charlotte's Web Holdings Inc. (OTCMKTS: CWBHF) - I could go on and on.

But I won't. Because while all of these stocks are members of the cannabis sector, there's only one that's poised for big, fast moves right now: Decibel Cannabis Company Inc. (OTC: DBCCF).

I'm not looking at DBCCF today because of a stellar earnings report, or a big-money trade, or a partnership announcement.

No, I'm looking at this stock because a big volatility event is coming - one that could drop a 100%, 200%, or even 300% profit in your pocket.

That's what the technicals are telling me.

Today, DBCCF sits at about $0.28. Its 52-week high is $0.30. If it were to go back there, that's a 7% jump.

But this chart of DBCCF from April to today is screaming that the stock is ready for a break to new highs - ones that would translate into a much greater profit than 7%.

Volume is slowly increasing here - you can see that in the red and gray bars at the bottom of the chart. And if it really starts to explode, then new highs will follow.

Now, let's look at the Bollinger bands, represented by those pink lines again. The stock is sitting right under the top band right now, preparing for a break above $0.29. That will trigger a volatility rally all the way to $0.33 and beyond.

The technicals are supporting the continuation of a bullish trend - that much is clear. The smartest way to play this penny stock is to buy it at $0.30 or less. When it gets to $0.34, add a 5% trailing stop to protect your principal and your profits.

My time trading OTC stocks has convinced me you don't need to invest a lot to tap big profit potential, especially these days in hot sectors like electric vehicles. My Money Map colleague, Michael A. Robinson, just showed me some of his research on a $2 stock that's been trading over-the-counter for a while now - it's put on nearly 1,100% gains over the past year, and the future may very well be even better. See, this company is looking to get listed on a big, U.S. exchange, and if that happens, the shares could be in for a possible repeat performance over the next year. You can see what I saw here...

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About the Author

Chris Johnson (“CJ”), a seasoned equity and options analyst with nearly 30 years of experience, is celebrated for his quantitative expertise in quantifying investors’ sentiment to navigate Wall Street with a deeply rooted technical and contrarian trading style.

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