SUNDAY MONEY MUSINGS

CRYPTOS:

Cryptos are in the rally and showing strength lately. Every time there is uncertainty and/or turbulence in mainstream market due to global events. (bearish or bullish), cryptos tend to gather more attention than usual. Long story short, here are my choice of cryptos we are going to look at this lazy Sunday.

Dogecoin:

Dogecoin is finally showing strength and trying to break out of the downtrend of last 2 years. The price action suggests that push past $.00038/0.0039 will initiate a breakout and a return of 100% with price target of $.007/008 very feasible ($.005 at the very least which is the next resistance). If anyone is looking to play crypto for short term gain, Dogecoin is a good choice with 50-100% return likely on the cards.

• Buy: Once price breaks past $.0038;
• Target Price: $0.005-$0.007+

Ethereum Classic:

Ethereum Classic has more than doubled in last month alone. A very good price action and it pulled back multiple times after hitting 12-13$ area. Consolidation is going on. As long as price stays above 10.60, it is still on course to push higher. A break past 13$ (13.18 recent high) now will trigger another push and target of 16$+ should hit sooner than expected. Getting in now with a stop loss in mind at 10.60  or below is safe.

• Buy: Once price breaks past $13 and holds for a few trading sessions.
• Target Price: $16-$19

HOT :

Tesla (TSLA)

Anyone who tells you that they expected TSLA to go from $170s to $970s (more than 400%) in 6 months is on some serious stuff which I want to try too. Jk. After shooting up like a rocket, Tesla has pulled back sharply to $700s after hitting $968.99 high just a few days ago. The general consensus for the price targets has been between 600-800$ so it is not a surprise. There is one ultra bold analyst predicting $7000 (yes 7 grand) price target by 2024. For anyone looking to get in Tesla as an investment, its wise to wait because this rise is unprecedented and the pullback has not had good enough consolidation. The share price, for all the promises and potential of Musk’s electric cars, is not justified yet. Tesla has never had a full profitable year, only recently had their first decent quarter with profit. The market cap of approx. $130 billion right now is higher than Ford, GM, Chrysler combined and is second only to Toyota’s $230 billion market cap. To put it in perspective, Tesla sold only 370,000 vehicles last year, GM alone sold 7.7 million. A pull back to somewhere between 500-575 area before it launches again is not a crazy thought.

PENNY TO PLAY:

Ocugen (OCGN):

This a beaten down penny stock. The company recently got listed in NASDAQ through reverse merger. Toxic warrant structure caused it to crash from 8$+ post merger to as low as .23 cents in weeks. The warrants are all exercised and the shares are almost all diluted at this point and this has potential to run and give you somewhere between 50% to 100% plus short term. It is low risk to buy at these levels. The company is a clinical stage biopharma specializing on eye issues and working on Phase 3 of of its flagship OCU300 with results expected in second half this year among other drugs. Investors are expecting to hear news about the sale of one of their assets (Neocart) soon, which could give a boost to the stock price and there is also a company announced share repurchase program in place which was announced in October. Buying anywhere between .45 -.50 with a stop loss around below .43 (safer) and/or .38, with a short term target to .70-1.20$ is feasible. The current price at .51 gives you loss potential of .08 cents per share if this falls with a gain potential of atleast 2 times or more. Every clinical bio stock is risky pre-FDA approval but risk v reward in this case is very good considering the price action is more or less at the bottom.

• Buy: $.47-.51 with a stop loss below .44/.38
• Target Price: $.70-1.20

Next week peek:

Disclaimer: Ideas posted here are just my personal opinion. I am not a licensed advisor and the investment decisions you make are your own.