So I did a bigger picture and yes normally our focus is on penny stocks. But that also involves looking at broader trends. So, travel and leisure penny stocks, for instance. Sub $5 stocks like
TRVG
NASDAQ:LTRPA and
AHT
are all at "risk" of pressure from negative sentiment in larger market trends.
CCL
has been somewhat a bellwether for certain travel & leisure penny stocks and right now appears to have its trend echoed with stocks like the ones mentioned here.
I took the Fib retracement out to feb 2018 when CCL reached its 3-year high and used last year's low as the anchor. What was interesting was how CCL traded around the 786 level. Coincidentally, it has been an interesting area for the stock and wouldn't you know it, though it broke below its 200DMA, it's back to testing the 786 fib line. With Biden commenting on the state of the economy next week, all technical levels could be important to monitor. In this case, the 786 fib seems to be a good one to pay attention to right now.
TRVG
NASDAQ:LTRPA and
AHT
are all at "risk" of pressure from negative sentiment in larger market trends.
CCL
has been somewhat a bellwether for certain travel & leisure penny stocks and right now appears to have its trend echoed with stocks like the ones mentioned here. I took the Fib retracement out to feb 2018 when CCL reached its 3-year high and used last year's low as the anchor. What was interesting was how CCL traded around the 786 level. Coincidentally, it has been an interesting area for the stock and wouldn't you know it, though it broke below its 200DMA, it's back to testing the 786 fib line. With Biden commenting on the state of the economy next week, all technical levels could be important to monitor. In this case, the 786 fib seems to be a good one to pay attention to right now.