Simple Support/Resistance Levels ADOMADOM has been a fun stock to watch. It finally tested its lower support level a few weeks ago. Now it's approaching another pivot point on the chart that has been support and resistance. It will be interesting to see if we get another boost to EV stocks again before the end of the month.
"On July 7th, Envirotech received a $400,000 purchase order from Joseph Holdings for five vehicles. CEO Phillip Oldridge said, 'This order is a promising start to our FAR relationship with Joseph Holdings and we’re pleased to have this opportunity to begin providing our innovative, high-quality, conventional and special purposed electric vehicles to the Caribbean market.' The past one-month of momentum with ADOM stock has been high to say the least. On June 10th, ADOM’s stock price was at $0.25 per share on average. Now on July 9th, the company’s stock price is over $0.38 per share. ADOM’s volume is also much higher than its market average right now. There are a few possible explanations for this. The market for electric vehicles is rapidly growing at the moment. We’ve all seen how companies like Tesla Inc. ( TSLA ) have gone up significantly in the past year or so. This momentum affects smaller EV companies like Envirotech as well. Whether this makes ADOM a part of your watchlist right now, is up to you."
Quote Source: 7 Industry Leading Penny Stocks To Watch in July 2021
Adomani
ADOM: Easy Consolidation Buildup: Wait for it :)Right now, I think Adom is ready for an even bigger upcoming breakout wedge given the buildup in breaking the resistance curve for many of the bears. I would say it is a definite hold as of now, and that you may see some surprising activity quite soon. That being said, everything I say is on an opinion based basis. Proceed with your own risk and do your own due diligence. Keeping a close watch.
5 Hot Penny Stocks Right Now5 penny stocks that I think are currently hot right now for a long hold are $ADOM, $SPCB, $MBIO, $MARK, and $ML. $ADOM I think will hit $1 quite soon given what has happened from the retracement of short sellers. $SPCB and $MARK got beaten up alot, should see the resistance break quite soon. $MBIO should retrace. $ML should surge given the EV surge. Right now, I'm mostly watching from the sidelines. As always, this is on an opinion based basis. Please proceed with caution or invest at your own risk.
ADOM BULLADOM continues to flirt with its 200-day moving average. I'm expecting a decent pop above the 200-day moving average as we have been in a wedge since February. Once this turns up over the 200-day moving average this one could run wild. Like if you agree. Follow if you appreciate the chart! Happy Thursday and happy trading!
ADOMANI - falling wedge reversal pattern This stock is showing a strong trend change. 1 year in a downtrend, and with this month could be the start of a big bull trend for a year or more!
