It's a new year and the market is chalked full of uncertainty due to Covid and looming fears around inflation. There will be untimely selloffs due to increasing tension. Also a lot of new blood will be entering the stock market, which will create a bunch of opportunities for you to reap profits. My goal this year is to really focus on providing you with consistent content that will help you identify strong plays. So with that being said, knowing that this market is extremely volatile, the wisest thing to do going into this market is creating a watchlist of stocks that you will pay extra close attention to this year. I've listed the top stocks that I'll be watching and playing this year in hopes of bringing in huge profit.
The stocks on my watchlist are chosen based on diverse factors. Some are listed because they're growth stocks, some retail, others are EV related, crypto plays, and lastly, plays that I see with huge retail support invested. The good thing about a bear market is that stocks are beaten down so badly, that if you buy while they're low, you have a lot of opportunities to take profit when market conditions pick up.
Keep in mind, that we are crossing over into a bear market. Therefore, there's no way to know how long you will be holding onto your plays. Whatever, you put on your list needs to be done so with high conviction. This market it going to test you. There has been intense selling pressure during market sessions. The selling pressure, will make you question your analysis.
SOFI - Separately, Wall Street analysts think that SoFi Technologies' shares are worth a lot more than what the stock is currently trading at. The mean consensus price target for SOFI is $24.00, which implies an upside of +73% as compared to SoFi Technologies' last traded share price of $13.087 as of January 12, 2022. (Seeking alpha)
MARA - Based on 3 Wall Street analysts offering 12 month price targets for Marathon Digital Holdings in the last 3 months. The average price target is $69.00 with a high forecast of $92.00 and a low forecast of $50.00. The average price target represents a 141.34% change from the last price of $28.59.
LCID - Based on 6 Wall Street analysts offering 12 month price targets for Lucid Group in the last 3 months. The average price target is $41.20 with a high forecast of $60.00 and a low forecast of $16.00. The average price target represents a -2.42% change from the last price of $42.22. However, I see LCID reaching $100 in 2022. I just think that LCID has too much buzz to not have a huge run before pulling back and settling into that $60 level.
FORD - Based on 19 Wall Street analysts offering 12 month price targets for Ford Motor in the last 3 months. The average price target is $22.50 with a high forecast of $32.00 and a low forecast of $12.00. The average price target represents a -10.68% change from the last price of $25.19. The great thing about FORD is that options are dirt cheap.
MACY'S - Based on 10 Wall Street analysts offering 12 month price targets for Macy's in the last 3 months. The average price target is $36.70 with a high forecast of $50.00 and a low forecast of $23.00. The average price target represents a 40.88% change from the last price of $26.05. Macy's is another stock with cheap options.
TQQQ - Leveraged ETFs such as TQQQ can be reasonably held long term but requires incredibly good market timing. Holding TQQQ for too long almost always guarantees you will eventually hit a major protracted bear market that completely wipes out the previous several years of gains. However, if you can avoid major protracted bear markets such as buying anytime since 2009 and today, TQQQ can outperform its underlying significantly. (Seeking Alpha)
UPST - Based on 9 Wall Street analysts offering 12 month price targets for Upstart Holdings in the last 3 months. The average price target is $250.33 with a high forecast of $350.00 and a low forecast of $160.00. The average price target represents a 125.30% change from the last price of $111.11.
CENN - Naked Brand NAKD share price forecast & targets for mid-term is a uptrend, and nearest possible future share price target is 3 or 6.75. I haven't done much due diligence on this stock, however, @zackmorris on twitter loves it and therefore, my interest has been kindled. Whenever you have a penny stock that has major retail support, you have a huge opportunity for profit.
AMC - AMC being placed on this list is for no other reason than the retail sentiment associated with this stock. Although it has been relatively quiet since its major run up to $72 this past year, the fact remains that as long as buyers hold onto their shares, shorts will have to inevitably cover. My outlook is to buy shares a couple at a time and simply hold until that occurs. Even if there isn't a huge squeeze, there will be gamma squeezes that will take place, because as we all know stocks are cyclical in nature.
CHPT - Based on 10 Wall Street analysts offering 12 month price targets for ChargePoint Holdings in the last 3 months. The average price target is $28.90 with a high forecast of $37.00 and a low forecast of $20.00. The average price target represents a 96.73% change from the last price of $14.69.
PLTR - Based on 8 Wall Street analysts offering 12 month price targets for Palantir Technologies in the last 3 months. The average price target is $22.14 with a high forecast of $25.00 and a low forecast of $18.00. The average price target represents a 38.29% change from the last price of $16.01.
RIOT - Based on 6 Wall Street analysts offering 12 month price targets for Riot Blockchain in the last 3 months. The average price target is $44.20 with a high forecast of $50.00 and a low forecast of $30.00. The average price target represents a 113.73% change from the last price of $20.68.
SAVA - Based on 4 Wall Street analysts offering 12 month price targets for Cassava Sciences in the last 3 months. The average price target is $159.25 with a high forecast of $215.00 and a low forecast of $108.00. The average price target represents a 247.10% change from the last price of $45.88.
DDD - Based on 8 Wall Street analysts offering 12 month price targets for 3D Systems in the last 3 months. The average price target is $27.00 with a high forecast of $36.00 and a low forecast of $22.00. The average price target represents a 35.81% change from the last price of $19.88.
DWAC - Donald Trump! Do I really need to say more? Even if most of his businesses went bankrupt, the fact remains, he was president. Not only that, he was an extremely polarizing president who built a huge loyal following. His social media platform, in my estimation will succeed on no other premise than the fact that his supporters hate the liberal opposition.