Here’s a crypto miner that you should dig into. Check out Hut 8 $HUT – June 23, 2023
Dan Fitzpatrick here at StockMarketMentor.com. I want to look at Hut ( NASDAQ: HUT ) real quick here, today, Hut 8 ( NASDAQ: HUT ).
You know what they do, they don’t mine for gold, it’s Bitcoin, crypto stuff. And lately, with Bitcoin going above 30 grand and staying there, we’ve got a lot more interest in this kind of stuff. You’ve got Riot ( NASDAQ: RIOT ), which also could be a good player.
There are a few others, Marathon ( NASDAQ: MARA ) works really well, I’ve got some of that, which looks really good. My bet is, on this one, if it goes up above 13.00, it’s going to 15.00 pretty easily.
But I want to talk about Hut ( NASDAQ: HUT ). It’s a cheap stock, $2.90, so you can trade it like a millionaire. This is up for how many days in a row? It’s up for 5-days in a row, and I would even say 6.
Because on this day, with a little red box there, it gapped down and then had a really good closing location value right up at the top of the intraday range. And then since then, it has been working its way right along the upper Bollinger Bands.
So this is the thing, I think that this is a stock that you can buy now. Now, it’s volatile, on a percentage basis, just on a 1-day range it was like 12 percent. So you have got to be careful in your position sizing, and also just how you are trading it intraday.
My suggestion would be, if the stock runs above today’s intraday high of $2.98, let’s just call it $3.00, I think you could put in a buy stop order at 3.01. If the stock hits 3.01, you’re in. You can put it a little bit higher if you want.
But the point is, if the stock runs to a new high, relative to today’s intraday high, if it does that, you are probably going to see a real squeeze higher in this stock. The weekly chart shows you the deal, this thing could run.
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