Top 5 Daily Stock Picks for Day Traders to Watch Before Market Open

I’ve been watching the markets before the bell and thought I’d share my daily stock picks for day traders. Some names tend to make a move early, and knowing which ones to track can save time and guesswork. Below are five stocks I’ll be watching closely as soon as the market opens.

Key Takeaways

• Nvidia’s pre-market buzz could spark quick up-and-down swings.
• Tesla often sees big gaps and wild intraday moves.
• Apple offers solid volume and steady intraday ranges.
• Amazon can jump on earnings whispers or sector news.
• Hims & Hers tends to have big percentage moves in low-priced stocks.

1. Nvidia Corp.

Nvidia is often a hot topic for day traders, and for good reason. The company’s stock has shown impressive growth, driven by its dominance in graphics processing units (GPUs). These GPUs are essential for everything from gaming to AI servers, making Nvidia a key player in the tech world.

Nvidia’s earnings reports have become major events, closely watched by investors. The stock also has high daily volume and active options, indicating strong demand. All of this makes NVDA a compelling choice for those looking to make quick trades.

From a trading perspective, NVDA offers a lot of action. But remember, day trading involves risk, so do your homework before jumping in. Keep an eye on market volatility and manage your risk carefully.

Here’s a quick look at how NVDA stacks up against other popular stocks for day trading:

Nvidia’s success isn’t just about gaming. The company is also making big moves in artificial intelligence, data centers, and autonomous vehicles. This diversification could help Nvidia maintain its growth in the long run.

Here’s a list of things to consider before trading NVDA:

• Review recent news and analyst reports.
• Monitor the stock’s price movement and trading volume.
• Compare NVDA to other stocks in your portfolio.
• Stay updated on current events that could impact the stock.

2. Tesla Inc.

Tesla (TSLA) has made a comeback after a rough start to the year. The stock has surged, turning positive for the year, thanks to a 27% gain in the last month. Even with Cybertruck production delays and recalls, strong delivery numbers in Q2 have boosted the stock. It hit a 9-month high, surprising many given the slowdown in electric vehicle sales growth. Day traders often look for short-term gains in TSLA’s volatile stock.

Tesla’s potential for short-term gains is clear, especially with the upcoming July earnings call and Robotaxi hype. While the Cybertruck remains a challenge, positive news could keep pushing TSLA shares higher. The average share volume has nearly doubled the three-month average this week, signaling another opportunity for traders. Investors interested in sustainable investment opportunities should keep an eye on Tesla’s developments.

Tesla’s stock is known for its volatility, making it attractive for day traders. Keep an eye on news and announcements, as these can significantly impact the stock price. Also, be aware of overall market trends and how they might affect Tesla’s performance.

Here’s a quick look at some key data:

Some things to consider:

• Monitor news related to production and deliveries.
• Pay attention to Elon Musk’s statements, as they can impact the stock.
• Be aware of overall trends in the electric vehicle market.

3. Apple Inc.

Apple is always a popular pick, and for good reason. It’s a stock that pretty much everyone knows, and it tends to have decent volume, making it suitable for day trading. I mean, who hasn’t heard of Apple, right?

Apple’s consistent trading volume and brand recognition make it a reliable choice for day traders.

Apple’s stock is influenced by a bunch of things, like new product releases, overall market trends, and even just general consumer sentiment. Keeping an eye on these factors can help you make better trading decisions. It’s not just about looking at the charts; it’s about understanding what’s driving the price.

Here’s a quick look at some key stats:

Apple’s stability and high trading volume make it a go-to for many day traders. However, it’s important to remember that even stable stocks can experience volatility, so always manage your risk.

Here are a few things to consider when trading Apple:

• Watch for news about product launches. These events often cause price swings.
• Pay attention to overall market trends. Apple is a big company, so it’s affected by broader market movements.
• Keep an eye on analyst ratings. These can give you an idea of what the experts think about the stock.

Consider keeping an eye on green-focused initial public offerings as well, for diversification. Also, remember to check for profitable short stock ideas before making any decisions.

4. Amazon.com Inc.

Amazon is always a popular pick, and for good reason. It’s a massive company with a lot of activity, making it interesting for day traders. The stock’s price movements can be influenced by a variety of factors, from earnings reports to broader economic trends. It’s one of those stocks that’s almost always ‘in play’.

Amazon’s substantial trading volume and relatively predictable patterns make it a favorite among day traders.

Amazon’s average volume is around 41.9 million shares. This high volume means there are plenty of opportunities to enter and exit positions quickly, which is what day trading is all about. You aren’t stuck holding the bag for long if things go south.

Keeping an eye on news related to Amazon, like updates on Alexa Shopping or their cloud services, can give you an edge. Understanding the company’s different business segments and how they perform is also important.

Here’s a quick look at some factors to consider:

• Volume: High volume ensures liquidity.
• Volatility: Look for days with above-average price swings.
• News: Stay updated on company-specific and broader market news.

For those looking to potentially identify 10-bagger investments, Amazon might not be the first place to look, but for consistent day trading opportunities, it’s hard to ignore.

5. Hims & Hers Health Inc.

Hims & Hers Health Inc. (HIMS) is making waves in the telehealth space, offering personalized health and wellness solutions directly to consumers. It’s a company that’s been on the radar of many day traders, and for good reason. The stock has shown considerable volatility, which can translate to opportunities for quick gains, but also carries significant risk.

HIMS has demonstrated notable price swings, making it attractive for day trading strategies.

While not a recommendation, it’s worth noting that HIMS was recently observed with a significant percentage of float being shorted. According to recent data, HIMS had 45,571,312 shares traded with 8.03% float. This high short interest can sometimes lead to short squeezes, creating rapid price increases if the stock starts to climb. Keep an eye on news and social media sentiment; these can be early indicators of potential price movements.

Day trading HIMS requires a solid understanding of technical analysis and risk management. Don’t jump in without a plan, and always set stop-loss orders to protect your capital. Remember, past performance is not indicative of future results.

Here are a few things to consider if you’re thinking about trading HIMS:

• News Catalysts: Keep an eye out for any news related to the company, such as earnings reports, new product launches, or partnerships. These events can significantly impact the stock price.
• Technical Indicators: Use technical indicators like moving averages, RSI (Relative Strength Index), and MACD (Moving Average Convergence Divergence) to identify potential entry and exit points.
• Market Sentiment: Monitor social media and financial news outlets to gauge the overall sentiment towards HIMS. A sudden shift in sentiment can lead to rapid price changes.

Before making any trades, make sure to do your own research and consider your risk tolerance. You can contact us for more information. Also, remember to check out the benefits of the QV Canadian Equity Fund for more investment ideas.

## Conclusion

Getting your watch list ready before the open can make the trading day smoother. These five picks show clear patterns and solid volume, but they still need your own plan and risk limits. Think of this list as a starting point, not a magic ticket. Some mornings you’ll hit the ground running, other days you’ll learn lessons the hard way. Either way, jot down what worked and what didn’t. Tomorrow, grab your list, follow your steps, and let the market tell you the rest.

Frequently Asked Questions

What does it mean to watch a stock before the market opens?

Watching a stock before the market opens means checking its price moves and news in pre-market trading. This helps you plan your trade early and spot any big changes before regular hours start.

How do I pick the right stock for day trading?

Look for stocks with high volume and price swings of at least a few percent each day. Also, focus on names in the news or with recent earnings reports. This makes big moves more likely.

What is a stop-loss and why is it important?

A stop-loss is an order that sells your shares if the price falls to a certain point. It limits your losses by getting you out before a small loss turns into a big one.

How much money should I risk on a single trade?

Risk no more than 1% to 2% of your total trading money on any one trade. This way, one bad trade won’t wipe out your whole account.

When should I take profits on a day trade?

Decide beforehand how much you want to make, such as 3% to 5%. When the stock reaches that target, lock in gains by selling part or all of your position.

Can I trade all five stocks every day?

You don’t have to trade all five every day. Pick one or two that look the best each morning. Too many trades can spread your focus too thin and lead to mistakes.

Peyman Khosravani

Peyman Khosravani is a global blockchain and digital transformation expert with a passion for marketing, futuristic ideas, analytics insights, startup businesses, and effective communications. He has extensive experience in blockchain and DeFi projects and is committed to using technology to bring justice and fairness to society and promote freedom. Peyman has worked with international organizations to improve digital transformation strategies and data-gathering strategies that help identify customer touchpoints and sources of data that tell the story of what is happening. With his expertise in blockchain, digital transformation, marketing, analytics insights, startup businesses, and effective communications, Peyman is dedicated to helping businesses succeed in the digital age. He believes that technology can be used as a tool for positive change in the world.