5 Best Penny Stocks to Buy Today and 6 Tips to avoid the Big Loss in Short Period

Keep checking the movement of the best penny stocks to buy today as it always changes every day. This way is quite effective to update the information about penny stocks. Apparently, numerous people dare to compete hunting it through the stock is small and high risk.

Do you wonder why they are willing to do it? 

It is because you can get your profit up to 140%  if you are lucky. Beware! Some companies are fake and have bad intentions. So, follow the best penny stocks to buy now to save your business.

Smart Tips to detect the Best Penny Stocks to Buy Today

In fact, you should have mature thinking before taking a decision. The reasons are simple where only some companies become the best penny stocks to buy today. Meanwhile, the rests are fake companies where they are ready to deceive you. The point is you need to know some tips and the important things before hunting in the exchange markets. Okay, some essential information is:

• A penny stock is stock from small companies that trade for less than $5 per share.

• The stocks trade on large exchanges such as the NYSE but most penny stocks trade in the counter (OTC).

• Although you can get sizable gains, there are also equal risks behind. You might lose a significant amount of investment in a short period.

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Keep holding those things during you hunt the best penny stock to buy today. Besides that, follow some tips below to ease your searching:

1. Involve some technical analysis techniques to help to spot potentially profitable trades in penny stocks.

2. Limit your investment to companies that trade on major exchanges such as the New York Stock Exchange or Nasdaq. They have more regulations than the pink sheets or Over-the-Counter Bulletin Board (OTCBB).

3. Further, get stocks that have obtained coverage from analysts. It refers to the stocks that have "Buy" or "Hold" ratings by a majority of analysts. Alongside that, they have a one-year price target that is well above today's share price.

4. Find companies in emerging markets, hot sectors, or firms that are ready for acquisition. You may take technology, cannabis, oil and gas, and biotech as the best penny stock to buy in 2021.

5. Then, set a personal budget when buying penny stocks. As risky investments, you should not have your entire portfolio tied up here. Instead, limit yourself to just 2% of your overall portfolio to avoid the risk of losing everything.

6. Lastly, find the right investment at the right time. It is as there are plenty of ways to both earn and lose big with penny stocks.

Read also: Best Penny Stocks to Invest in 2021: Get These 5 Options through 10 Important Steps

Okay, those are 3 main elements and 6 tips to search for the best penny stock to buy today. What do you think? Do you want to keep moving ahead?

5 Best Penny Stocks to Buy Today

Finding the best penny stock to buy right now means you are conducting a short-term investment. You must be diligent to check it every day, especially in the morning. If you do not do it or pass it in one day, the big loss is ready to threaten you. Well, the five penny stocks below may offer attractive trading opportunities for big profit:

1. Centric Brands Inc. (CTRC)

Centric Brands Inc. (CTRC) stock recent tumble from the dark cloud cover warning sign at $5.35.

However, it rises to be the best penny stock to buy today by displaying a very interesting pattern. It emerges on a candlestick trading chart, shares show a very long lower tail. Generally, it represents a strong intraday recovery and implies hungry buying demand at undervalued prices. Since then, Centric Brands' stock has been displaying a "calming" of the downtrend over the past few days.

2. China Jo-Jo Drugstores, Inc. (CJJD)

This company is representing a "recovery" or "rebound" play. China Jo-Jo Drugstores, Inc. (CJJD) stock has never recovery yet. Even, the dark cloud cover set-up led to a complete share price collapse.

Nevertheless, there is always a nice 20% bounce from the price move like that. The company is also showing very positive bias through the strongly oversold level, with an RSI of less than 25. Thus, there will be more accumulation than selling in the next few weeks. relative strength index.

Note: RSI= relative strength index

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3.Viveve Medical, Inc. (VIVE)

There is still a rare positive candle although the Viveve Medical stock is negative in eight straight days. Apparently, trading volumes have ballooned since the big sell-off a few weeks ago. The showing signs of slowing down add to the probability that the downtrend may reverse.

On the other hand, this best penny stock to buy today is also so heavily oversold. So, Viveve Medical likely climbing back higher than the possibility of more declines. If the stock is popping back to higher prices, it will likely recover within a week.

4. Superior Drilling Products, Inc. (SDPI)

You should have a big dare to take a bit of a risk with Superior Drilling Products, Inc. (SDPI).  Remembering the trading volume is so low and you must be extra cautious with any patterns on the candlestick chart. See also the best penny stocks to buy for the short term. 

For your information, there are three dojis, one imperfect Doji, one spinning top, and one imperfect hammer over the recent six days. They are all trend-reversal "suggestions" that may be showing that the downtrend has played out.  Also,  it shows the stock will begin a bounce right off the $1 range at which they are currently trading. Do you believe it? Okay, let's find it out within a week or less.

5. ShiftPixy, Inc. (PIXY)

On April 30, ShiftPixy, Inc. (PIXY) stock gapped down to a great trend reversal set-up, specifically a Doji pattern. It indicates a decreased recovery in the next few days and weeks along with the probability of rising prices. A heavily oversold RSI reading of just above 20 adds support to the best penny stock to buy today. It has does the trading volume since March 15.

After this, do not forget to check the other best penny stocks to buy today. For instance; Oasmia Pharmaceutical AB (OASM), Novus Therapeutics, Inc. (NVUS), Auris Medical Holding Ltd. (EARS), and so on. Good luck!
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