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Innoviz/CGRO Merger Play --> Will History Repeat Itself?!CGRO is expected to complete its merger with Innoviz (INVZ) technologies in the first quarter of 2021. If that timetable is to be believed then we are only looking at 1-4 month timeframe for the merger to occur. Innoviz is a lidar sensor play - think VLDR and LAZR . After analyzing VLDR/LAZR who are the well known tickers in this sector it looks like Innoviz could have a similar rally as the merger gets closer. Semi-recent news is that INVZ has partnered with Macnica (japan's largest distribution company) to sell its InnovizOne for the first time in Japan. InnovizOne has also been selected by BMW for its use in its fully autonomous electric car. Innoviz has some solid investors that interest me. They are backed by Softbank Ventures Asia and auto supplier Magna international. Magna international is one of the world's largest suppliers in the automotive industry and is the largest auto parts manufacturer in North America. So, seeing them invest millions into Innoviz is something to keep an eye on in the North American sector. Chart : What has drawn me to CGRO's chart is the 32% sell off over the past 44 days which may be finding a bottom at the $13 range. It held the Daily 50 SMA beautifully for 6 days straight which piqued my interest as well. - HVN: there is a HVN between $13-14 and we saw a fail of this lvl on 1/25-1/29 but then we regained the $13 lvl which was key. The POC is at $13.78 which will serve as a strong resistance. If we can close over the POC then I am really bullish on the trade. -Volume: there isn’t much special about the volume CGRO has seen the past 43 days as it has been mostly bearish with its sell off. - Important to note the bullish price action this past week vs the declining volume, might be signaling another leg down unless $ steps in this week. - 1/25 & 1/26 we saw 1.1 and 1.5 million volume with bearish candles both days. It looks to me like a failed bounce and subsequent gap down. Since these two days there has only been one larger volume day on 2/2 of 1.1 million. We had some bulls come into CGRO that day and try to reclaim the daily 20 SMA but were unable to close above. - MACD: CGRO’s MACD on Daily chart looks primed for a reversal, VLDR Daily chart also saw very similar MACD & RSI patterns before its merger rally Merger : - VLDR ran 148% the month leading up to its merger while LAZR hit 80% gains a few days before its merger and 150% gains the 4 days prior to its merger - I am by no means saying this is going to happen to Innoviz. If anything this shows that the lidar market is becoming saturated with companies going public. LAZR by comparison has a market cap of 10.8 billion and VLDR of 3.92 billion. The merger results in Innoviz with an estimated $1.4 billion equity value. - I am looking at these comparisons and think there may be a possibility here for a INVZ run up into its merger. The tricky thing about this play is timing. Plan: I am currently in a small starter position of CGRO at $13.37 and this week I will be looking to continue to add shares. Once we get some momentum I am also looking to add some March or April calls. 1. If CGRO continues to see no bullish volume I think we retest the triangle bottom trend line and might even see the $11.60-12 range where the other HVN is located (lower blue square on chart). If this is the case I will watch for a bounce at this HVN and/or the 100 SMA. 2. I want to see CGRO hold its $13-$14 HVN range and close over the 20 SMA on the daily chart. With such a long consolidation and merger news imminent I am adding a starter position and then waiting on volume accumulation to add a larger position. SL: If we fail the triangle pattern and look to be heading to the 11.60-12 range then that is a good opportunity to take the loss and re-enter lower. I have a smaller position so I am comfortable holding my shares through this breakdown if it occurs. I will more than likely avg down if these levels are seen. ***Downside: - Other Lidar plays that have SPAC’s supposedly merging in the first quarter are Ouster ( CLA ) and Aeva ( IPV ). The Lidar market will quickly have multiple companies joining via SPAC’s in the first half of 2021. This saturation can make it tricky for just one company to run. This writeup focuses on INVZ but a diversification of 2 or more of these Lidar plays may be more risk averse. Thanks for reading my write-up if you made it this far! would love to hear your thoughts on this play/sector. Give me a like and follow on TV for future trade ideas.
VLong
by DOpeTrades
REE Automotive to List on NASDAQ Through Merger with $VCVCREE Automotive to List on NASDAQ Through Merger with 10X Capital Venture Acquisition Corp REE’s fully-flat and modular EV platforms are based on proprietary REEcorner technology, positioned to become the cornerstone of next-generation e-Mobility. The transaction is expected to provide more than $500 million of gross proceeds to the Company. This includes funds from a fully committed $300 million PIPE with participation from long-term strategic investors including Koch Strategic Platforms, Mahindra & Mahindra and Magna International. As a result of outsized demand, the PIPE offering was meaningfully oversubscribed and upsized. Pro forma equity value of the merger is approximately $3.6 billion and pro forma enterprise value of $3.1 billion, at the $10.00 per share PIPE price and assuming minimal 10X SPAC shareholder redemptions. targeting a $700 billion total addressable market REE has an orderbook comprised of signed indications of interest for over 250,000 platforms, representing 27% of their total cumulative expected revenue of $19.1 billion by 2026. The transaction will accelerate mass production of REEcorner technology and modular EV platforms, expected to begin in 2023. The proposed transaction expected to be completed by the end of the first half of 2021. www.businesswire.com
V
by AlenCiken
2
Hyliion Holdings is back After falling since September last year, it seems to have reached a bottom in January, starting a recovery. I visualize 3 possible targets in different time frames: $ 24-25, $ 30, and $ 40. Its main institutional holders include Bank of America, Morgan Stanley, Wells Fargo and Goldman Sachs, mmm. Its on-balance volume seems to have reached a support level in December, now they are injecting capital into it, sooner or later this will be reflected in the price. NYSE:HYLN
HLong
by amateur_trad3r
1
Bull case for NIO using EWP Since the start of November of 2020 NIO has traded in an uptrend as pointed out by other traders interested in NIO. More recently it has been moving in a descending wedge pattern as it trades to the lower range of its uptrend to find support. On the daily chart, NIO is also finding support on the 25 day SMMA (and support on the 50 day SMMA on the 4hr) this seems to be converging with the lower support of the uptrend,an imminent MACD buy signal and the plotting of the EWP. The convergences of which may be a strong buy signal.
NYSE:NIOLong
by Yoimdop3
4
Fisker is waiting for a big move Close to the oversold point in the stochastic. MACD below 0 with reversal signals (bullish). 35% below its all-time high in November. Since December it has fluctuated between 61.8% and 50% of the Fibo. Its 55 EMA is flat (it can't hold like this for long). It may be preparing to start a trend. It has resistance at $18 and $21 ($20 can be a good target). It has future potential. "Fisker Inc. is an electric vehicle manufacturer founded by Henrik Fisker, launched in 2016 and based in California. Fisker Inc. is a relaunch of the Fisker brand, which previously manufactured the Fisker Karma under Fisker Automotive (founded in 2007). In addition to designing and developing electric vehicles, Fisker Inc. has registered patents for solid-state batteries for use in automobiles, consumer electronics, and other industries." NYSE:FSR
FLong
by amateur_trad3r
2
VLEEY - VALEO - LiDAR Driving the Autonomous VehiclesVLEEY ENTRY = 17 - 20 CAD = 618@14.80 HODL 26+ EV LiDAR PLAY - Playing a Major Role in Tomorrow's Mobility www.valeo.com ______________________________________________________________________________________________________________________ This content is for informational, educational and entertainment purposes only. This is not in any way, shape or form financial or trading advice. Good luck, happy trading and stay chill, 2degreez
OTC:VLEEYLong
by UnknownUnicorn7216011
SET STOP @ 1% OF PORTFOLIO - NO MORE. A LOT OF UPSIDE HERE. Description Patten Energy Solutions Group, Inc., an exploration stage company, engages in the acquisition, exploration, development, mining, and production of energy and mineral properties. The company primarily explores for lithium carbonate and other minerals. It holds interests in a portfolio of properties covering approximately 31,020 acres located in the United States and Australia. Patten Energy Solutions Group, Inc. was founded in 2004 and is based in Dolton, Illinois. BULLISH ON ANYTHING #LITHIUM.
OTC:PTTNLong
by clarkehimself
LI AUTO, Oversold at support & Bullish EngulfingAfter fibo 61.8% retrace LI tested the upper side of the ascending channel and retrecaed back to fibo 50%. This area is acting as an important support and yesterday' formed a Bullish engulfing candle. If we close in green today the engulfing will vallidate and it will either test the next fibo at $40 or the upper channel. If it cant break that expect a correction back to 38.2% or $35 area. Put your stop below yesterday's wick just in case.
NASDAQ:LILong
by Kryptolinks
Launches First Electric Vehicle & Hybrid Focused Shopping HubCarParts.com Launches First Electric Vehicle & Hybrid Focused Shopping Hub This week launched a new dedicated shopping hub for the hybrid, plug-in hybrid, and electric vehicle (EV) community. The ecommerce retailer is transforming the way drivers shop for auto parts, so naturally, building an online store for EVs and hybrids is the next big investment in the company’s growth and commitment to getting drivers back on the road. In recent months, CarParts.com’s product offering for EVs and hybrids has grown to include over 700,000 applications for the repair, maintenance, and enhancement of hybrids, plug-in hybrids, and EVs. Aftermarket parts are available for over 25 popular vehicle makes, including Tesla, Toyota, Honda, GMC, BMW, Ford, Lexus, Chevrolet, and more. As EVs and hybrid vehicles age, consumers are more likely to buy aftermarket parts. finance.yahoo.com
NASDAQ:PRTS
by AlenCiken
TESLA ! ROCKET OR SUBMARINE ?! TESLA! Rocket or submarine. We must recognize that the evolution of the company last year, ignited a lot of imagination, and a lot of minds. Many fortunes were made and many were lost, in unnecessary shorts. Whether it was raining or windy, Tesla took off. The question is what's next ?! Well technically everything looks crystal clear, just news like today's about the stimulus, can shake the price for a few minutes more. But fundamental !? Well, it has 5 consecutive quarters on profit, ending the pandemic year with a 37% yoy increase in deliveries. And this in the year of the pandemic, I repeat, when we all stayed at home. Analysts see good reporting on Wednesday, and have a price target of $ 933. And basically the company looks good. But what we do to gentlemen is that everything that grows must decrease, that's how we know. Well, we'll see on Wednesday after closing. The thing is simple: it will be either a rocket or a submarine, but both nuclear, no doubt :)
NASDAQ:TSLA
by Viorex
Breakaway GapWhen the price opens above a significant resistance area it is known as a Breakaway Gap. This is a bullish signal and indicates the start of a strong trend. Although some would argue that gaps must be filled it is important that we identify what type of gap we are looking at. Breakaway Gaps are usually backed by a positive announcement and in this case it is; PUREgraphite Awarded US$5.57M from the U.S. Department of Energy (DOE) for New Technology Development Price is currently sitting at a major Fibonacci level of %61.8. It is possible that we at a major resistance however a move above this level could indicate that we are likely to reach the next target of 4.75 -BreadCharts
ASX:NVXLong
by BreadCharts
1