Penny Stocks To Watch - TRTC

Penny stocks can be very enjoyable and exciting to trade but they can also keep you on the edge of your seat as they sometimes move faster than you can react.  In the blink of an eye all of your profits can be wiped out or doubled so knowing what you are doing is an absolute must.

Below is a  daily chart of TRTC which is a penny stock I often trade and follow.

Back in March of this year we had a breakout to the upside on heavy volume which was then followed by a pullback and then a sharp rally to the upside. I actually missed the initial breakout but was able to get on board shortly after the pullback.and fortunately caught a piece of the April rally. I think what we are now seeing in TRTC is similar to what has happened back in March which is why I am sharing this post.

Late last month TRTC broke out from a 2 month consolidation base and is now in the process of testing the breakout level. I'm going to keep this stock on the radar for any signs of a bounce off of this support area. What am I looking for?  A large range day to the upside (close greater than open) on good volume...maybe a reversal candle such as a bullish engulfment...maybe a sell off below last week's lows followed by a quick recovery...etc. You get the idea.