Is Vuzix going to see a huge Correction?
Personally outside of crypto I haven't gotten in to too much tech. Vuzi was a exception for me. I've been bullish on this stock for sometime. Got in a little over $4 and sold at $24. I don't trade on leverage so now it's wait to get back in.
Most of this parabolic run it's seen had to do with Ark invest buying, them adding it to the etf and the hype it created drove Vuzi to insane levels. I love what the company is doing but its not profitable, not a big brand name yet. Just like crypto it's in its infancy stages. I think a good sign of that is the stocks volatility. The last month it's been a awesome play for traders but I also think a good sign that we probably seen the top. Once Ark and the others that are buying for etf's quit buying I think we can see a accelerated drop like we did with NNDM. That stock went from $17 to $6 pretty quick.
We've gotten very far away from the 50 wma. I do expect that average and the stock price to meet at some point. So within the next month or so Id expect the average to pretty much flatten as the stock continues to fall. Another reason I think It can fall quite a bit is majority of buying was done at very low levels. Allot of people got in around $4 and made a killing. Its only right to expect people to cash out. It can potentially go lower but for now unless things change I am a buyer at the 50 week average.
Most of this parabolic run it's seen had to do with Ark invest buying, them adding it to the etf and the hype it created drove Vuzi to insane levels. I love what the company is doing but its not profitable, not a big brand name yet. Just like crypto it's in its infancy stages. I think a good sign of that is the stocks volatility. The last month it's been a awesome play for traders but I also think a good sign that we probably seen the top. Once Ark and the others that are buying for etf's quit buying I think we can see a accelerated drop like we did with NNDM. That stock went from $17 to $6 pretty quick.
We've gotten very far away from the 50 wma. I do expect that average and the stock price to meet at some point. So within the next month or so Id expect the average to pretty much flatten as the stock continues to fall. Another reason I think It can fall quite a bit is majority of buying was done at very low levels. Allot of people got in around $4 and made a killing. Its only right to expect people to cash out. It can potentially go lower but for now unless things change I am a buyer at the 50 week average.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.