December 2024's Top Penny Stocks To Keep An Eye On

As the year 2024 comes to a close, investors are looking for opportunities in the stock market, and penny stocks are no exception. These small-cap or micro-cap stocks, trading at less than $5 per share, can offer significant potential for growth and high returns. In this article, we will highlight some of the top penny stocks for December 2024, screened for a high return over the last 30 days and bullish technical patterns.

Top Penny Stocks for December 2024

1. BARK, Inc. (BARK)
* Price: $1.77
* 30-day return: 19.6%
* Average daily trading volume: 655,000
* Exchange: New York Stock Exchange (NYSE)
* BARK Inc. specializes in subscription-based products and services for dogs, including toys, treats, and health care solutions. The company's stock broke out of a bullish inverse head and shoulders bottoming pattern in June 2024, indicating a potential trend reversal. Since then, BARK's stock has formed a small bullish pennant that successfully tested support twice around the 50-day moving average. If an upside breakout can clear the top of the pattern at $1.91, this company's stock has the potential to see a sharp improvement in bullish momentum.
2. Expensify, Inc. (EXFY)
* Price: $3.40
* 30-day return: 79.9%
* Average daily trading volume: 536,100
* Exchange: Nasdaq
* Expensify, Inc. triggered a long-term bullish reversal signal in November 2024 by breaking out of an inverse head and shoulders pattern and a long-term downtrend line at the same time. The stock looks extended in the short term, but it is worth watching the pullbacks that may test support around the neckline at $2.63 and the downtrend line. Nonetheless, the first upside long-term target derived from the price structure is up at $5.67, followed by a prior price zone around $7.98.
3. Jowell Global, Ltd. (JWEL)
* Price: $3.38
* 30-day return: 89.9%
* Average daily trading volume: 361,000
* Exchange: Nasdaq
* Jowell Global, Ltd. is a China-based ecommerce platform offering health, wellness, and beauty products. Its stock triggered a decisive bull breakout of an inverse head and shoulders pattern in November 2024, showing a wide trading range and strong close near the highs of the week. Jowell's stock reclaimed both the 20-week moving average and 50-week moving average a few weeks earlier. If the stock can continue to strengthen, it looks to have the potential to eventually head towards prior swing highs at $5.52, $8.93, and $15.29.
4. Quince Therapeutics, Inc. (QNCX)
* Price: $1.96
* 30-day return: 21.0%
* Average daily trading volume: 644,200
* Exchange: Nasdaq
* Quince Therapeutics, Inc. attempted a breakout of a double bottom pattern in November 2024 but formed a potentially bearish shooting star pattern. The stock is extended in the short term, as it has seen six consecutive weeks of gains and a questionable pattern breakout. An upside breakout may have a greater chance of success following a pullback or consolidation, which could prepare the way for a new burst of momentum once it becomes clearer that a long-term trend reversal may be in process.
5. Zevia PBC (ZVIA)
* Price: $2.19
* 30-day return: 81%
* Average daily trading volume: 361,400
* Exchange: NYSE
* Zevia PBC, a beverage company, triggered a bull breakout during the week of November 8, 2024, of both an inverse head and shoulders pattern and a 50-week moving average line at the same time. The stock looks extended in the short term, but it is worth watching the pullbacks that may test support around the neckline at $1.93 and the downtrend line. Nonetheless, the first upside long-term target derived from the price structure is up at $3.25, followed by a prior price zone around $4.25.

Financial Health Ratings and Market Performance

The financial health ratings of these penny stocks generally correlate with their market performance and potential for growth. Companies with higher financial health ratings, such as QuantaSing Group (NasdaqGM:QSG) and BAB (OTCPK:BABB), tend to have better market performance and greater potential for growth. However, it is essential to consider other factors, such as recent losses, shareholder dilution, and debt levels, when evaluating the growth potential of these companies.

Geopolitical Factors and Penny Stocks

Geopolitical factors, such as China's influence on the electric vehicle market, can significantly impact the investment potential of penny stocks. Investors should closely monitor geopolitical developments and assess their potential impact on the companies they are considering investing in. For example, Jowell Global, Ltd. (JWEL), a China-based ecommerce platform, could face increased competition or regulatory challenges due to China's influence, which could potentially impact its stock performance.

In conclusion, December 2024's top penny stocks offer attractive opportunities for investors seeking high returns and growth potential. By analyzing their bullish technical patterns, financial health ratings, and considering geopolitical factors, investors can make informed decisions when selecting penny stocks for their portfolios. Keep an eye on these top penny stocks as they have the potential to deliver significant gains in the coming months.