What do you think of COCO stock?
I’m a very new investor. I bought COCO at 4.83 almost a week ago and it is now at 5.23. I just want to make a little off of it, but am not in for the long run currently. There is a lot of contradictory reports and analyst reviews out there and I’m overwhelmed. What are your opinions on the stock? Should I get rid of it now while I’m ahead? I feel like it could potentially crash after earnings on nov. 2nd….and also the election is that day. On the other hand it could potentially go up. I’m looking to get out around $6.11, because at that point I will have made $50 after commissions.
With Penny Stocks, it’s difficult to make any prediction. As to the midterm elections, 18 times out of 20, the stock market have rallied after a midterm election but only when the ruling party loses seats. If the ruling party gains seat as in 2002, then it’s viewed as a positive feedback loop rather than a corrective negative feedback hence the market drops in anticipation of increased instability in the economy. It doesn’t look good for the Democrats so I would say that it’s safe to say that the market will likely rally after the elections. Of course, the best way to take advantage of this effect is to buy something representative of the market like the exchange traded fund VTI not a penny stock.
The Motley Fool seems to like COCO and it does seem to be sitting on a support level. Looks like their problem is that Securities Fraud class action suit against them.
Predicting The Future Stock Market Move From The Charts
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