What is up, everybody welcome to trace trades. We get technical analysis and different stocks in the stock market, as well as potential buy, hold or sell opinions on these given stocks. I, like the purpose by saying that i'm not a financial advisor nor expert, so take what i say with a grain of salt. The reason that i started this channel because a couple years back, i was about 30 000 deep in some pretty bad medical debt, and i was very fortunate to have some close family friends and mentors that pushed me to work hard and invest my money in the Market and i'm now happy to say that i am financially free.

So if i can pass along any of the information resources for tools that are given to me, make the community a little bit better off than it was before. That's all a guy can ask for. Lastly, food and i'm dropping like on the video, really does help support the channel and consider subscribing if you like, to see more content like this, as i do post videos every single day now this is going to be the beginning of a new series. I'm going to be doing a weekly penny stock pick for the week and i'm going to give out a couple different uh options here and have a video on each one.

But the number one pick that we've got for the week and the one that i'm definitely the most excited about is ticker symbol, azrx azerik's, bio farm, uh incorporated and uh. I probably said that wrong, but um. That's what we're gon na be covering just want to give a quick shout out to the guys over the patreon before we get going. We do have about 94 members right now, so we're growing really fast via dharni tarek angie, jeff, ian tan, joel makisu, desmond kd.

Thank you guys so much. They will have access to the private discord as well as real time insight to my personal trading and, if you're interested. There is a link in the description box down below now, if you're not familiar with what this company is, they are a biopharma. They engage in the research and development of non-systemic biologics for the treatment of patients with gastrointestinal disorders.

It focuses on whatever this is and b lactamase program products. The company was founded in 2014 and is headquartered in brooklyn, new york and uh. The following on stock twits is very small about 2 900 people. The message volume has been down sentiment is pretty neutral.

The price has been going up and why i'm excited about this company for is they're, going to be participating in the same um biotech conference that uh. Another penny play that i'm currently in with you guys. Uh pte is happening so uh we've got. You know on thursday january 7th at 7 00 a.m.

Cst is when this article was written on ticker symbol azrx to participate in biotech showcase digital 2021 conference, and this is supposed to be taking place at uh, 6 a.m, est or 5 a.m. Cst for from the midwest like me, i'm from minnesota, so it's going to be pretty early in the morning and it does line up extremely extremely well with the penny stock that, if you, if you hopped in with me in pte it lines up perfectly with that Penny plate - and this is the, in my opinion, the best setup that we currently have for a penny stock. So that's why i'm really excited about this. We do have an upcoming catalyst that should uh be a good push on the stock, and i will tell you guys: you know how to game plan this.

So we'll look at this from a macroscopic and microscopic point of view if you're interested in getting this for a mid to long term investment. So look at the one month chart here first and then we will look at the two day. One minute chart um right now: it's only sixty changes to the one and we'll talk about all the different indicators. I've got, the rsi indicator pulled up the uh vama the 20 day volume adjusted moving average.

The 200-day ema we'll talk about the current volume trends. We'll talk about some different indicators that i'm seeing on the charts and uh yeah with that being so, let's just get right into the technicals on this, so um, the overall volume is nice and what i'm liking on this is uh. We've got a little bump in volume and this is looking a lot like jag x. So if i just get out of this screen really quick and we change this to jagex on a one month chart and we look at what happened before they went freaking insane.

Um we have this crossover on the volume adjusted moving average in the 200 ema right here, the 200 ema being a 200 day period, moving average uh price valuation on the stock and the 20 day volume adjusted moving average takes into consideration the overall volume trading on A stock and creates a trend line based on a 20-day period and if we look at this stock, when it first had that crossover between these two lines, um that bullish indicator that crossover between the vomit and the 200 ema right here. Right that exact thing literally just happened on this stock. We get this little bump in volume like we saw here an insane push, and this chart looks exactly like that guys. I scan for over 100 penny stocks over the weekend.

Looking for our next penny play - and we have a couple ones that look promising right, um and i'll talk about a couple other ones in some different videos. But this is by far the best technical setup that i have seen for a future pop-off. And i really really like how that looks compared to jagex guys. This has potential, i think, to push very easily up to a buck 50.

Like we've seen in the past during the pre-market and honestly, i would not be surprised with a two dollar runner. Of course, uh we're going to be very happy taking profits on anything over 10. 20. 30.

40. 50. We can't get greedy we're in this for a business right, but this does have a really nice technical setup. I do like that.

We are currently in a ascending wedge formation, so we do have some solid buying pressure coming in on the stock uh. We do have that crossover on the vama over the 200 ema. We do have that little bump in volume like we saw on jag x. The rsi indicator is currently pretty neutral.

It's not overbought, so we haven't seen the hype come into this yet and guys. If we look at this on stock twits, this is not hyped. Yet this has low message: volume: it's not anybody's radar. I don't think you're gon na find this anywhere on youtube, except for here um.

We are beating the hype with this stock and i am really really excited because this is gon na work out really perfectly so. I'm gon na show you guys my portfolio currently in pte for a dollar cost average of one dollar and three cents with about 3 100 shares and i plan on selling out of the stock. Once we see that initial spike up in volume in the morning. From that conference - and i think that azrx is going to pretty much perfectly mirror what is happening to pte.

So you should see a pretty harsh uh run-up right and i'm going to be getting out of pte once we see a pullback start to form on the charts. You know anything like this. You see a pretty harsh sell-off, i'm going to exit my trade and you should see azrx do the exact same thing so once that happens and the pullback happens on azrx, i will be entering my trade and i'm going to be looking for a couple different things On the charts, so if we drop a couple levels of support and resistance, we do currently have a resistance level that will be an acting level of support at about 89 cents um, followed by another level of resistance. That will be an acting level of support, most likely at a dollar four and then lastly, another level of uh resistance.

That will probably be an acting level of support at a dollar fifteen. Now you can put this a couple different ways right, if you're not currently in pte - and you are able to trade pre-market on your brokerage account um. You could definitely get into this stock at 88 cents and i think you're gon na be sitting really nice and if you can't you catch this thing, slipping under 88 cents, you know 82 cents. That is going to be a filthy margin that you're going to be looking at on the stock, as i do see potential to run up to this this buck 50, that we've seen in the uh in the pre-market on these uh january 4th so um.

That's looking really nice. The setup on this guys is perfect. I i'm not kidding. I looked at over 100 stocks and uh this easily has the best setup.

I try to find exact rules on a stock and i won't pull the trigger on it. Unless i see certain requirements met - and this literally meets every single requirement - we have a perfect technical chart set up. We have an upcoming news catalyst that should push the stock price right. This is going to gain.

Some traction gain some hype. This is just like pte guys. Nobody knew about pte. We got into that stock before the hype beat it and uh.

We are currently up like 35 on pte right and there's there's more room to run on that. So i'm very, very excited for that. You know we're up 28 and the same thing is happening with azrx and i'm not kidding you. This looks absolutely beautiful, so um the the rsi looks great.

The volume is starting to bump up, so we're going to have some increased volatility. The vomit is, over 200 ema, we're in an ascending wedge formation, bullish territory, buying pressure. This is absolutely perfect, so i'll be watching for these price zones to get in as a potential entry point. If you're looking, you know for a mid to long term investment, that's one strategy, i will be swing trading this you know and i will give real-time updates in my uh patreon and the private discord if you're interested in that i want to buy, hold and sell This stock um, but this this looks like another um - hit the ball out of the park kind of play, so we're gon na change it to the the two-day one-minute chart here, real quick just so we can look at uh the volatility and the price action on The stock there is a lot of up and down movement, so you got to have a pretty uh, pretty good gut.

You got to be able to sit with some queasiness. You know you might see some dips. You might see some lows some valleys, some highs. That's going to come with the territory on this stock guys, so we drop a level of support.

You know currently sitting at 82 cents, another level of support, probably right around here at 83 cents and then we're looking at a current resistance level just sitting underneath that right around 89 cents. So that's what we're looking at on the two day, uh one minute chart right now looks very, very promising. I'm loving the setup on this um - and this is currently my favorite of the three penny stock - plays that i'm going to bring to your guys attention right. So um we're beating the hype on this um nobody's talking about this.

I've just seen a couple of reddit threads talking about azrx the stock twits page is very quiet, but the technical setup, and this upcoming news catalyst is huge. This is not going to be a sexy play right. This is a biopharma pharmaceutical stock and that sector is hot, so the money's flowing in that area right now and we're going to ride that out. So if you're looking to get into the stock just make sure you mitigate your own risk, because there's always potential with a penny stock that it might not pan out right um, you know we're not always gon na be right on every play.

Um and it's all about mitigating risk and uh minimizing your losses if this doesn't work out - and you just need to realize that this is less than a dollar right, so there's a lot of risk and if we drop five ten cents, that's a pretty decent chunk Off your portfolio so just be very careful make sure that you make your own financial decisions. I will be getting into this stock and i have been four for four on my penny stock picks in my last week of videos. I hit a home run on uh on bngo. I hit i hit it out of the park on uh jagx, we've hit it with pte we've done great with ocgn, and i really have high faith that azrx is going to be the next play.

So just keep this on your radar guys make sure you make your own decisions, but i'm going to be personally getting into the stock, and i love how this setup is looking right now. So that is what i have for the video today on this week's penny play. This is easily my favorite. If you enjoyed the video, please drop a like, it does help support the channel and consider subscribing.

If you like to see more content like this, i will be giving a penny stock uh play every single sunday, so be on the watch for that i'll have a playlist that's available on my channel and lastly, i have an affiliate link in the description box down Below for tubebuddy now, tubebuddy is an seo optimization website that i personally paid nine dollar a month. Uh membership fee form and it is highly what i attribute growing from zero to 4 500 subscribers in about 24 days too. So if you're a content creator or looking to become one, i highly recommend this this website, it's a great tool and i will receive a commission off of your purchase at no extra cost to you if you're not interested, that's totally fine. I just appreciate your support to the channel by giving me your time, so thank you for watching the video today.

My friends and i will see you all next time. Peace.