TESLA starting an aggressive bullish reversal to $380.Since July and the bullish break-out above the ATH Lower Highs trend-line, Tesla (TSLA) confirmed the transition to a new long-term bullish pattern. For the time being, that is a Channel Up.
The recent pull-back is part of the wider market correction of the past 3 weeks but last week's green 1W candle, is evidence that the price has found a bottom. In fact this is a Higher Low on the new Bullish Leg similar to the previous one on the week of April 24 2023.
That was the first Bullish Leg since the 2022 Inflation Crisis bottom and the symmetry is evident even on the 1W MACD, which is showing a squeeze, similar to April - May 2023. As long as this doesn't cross, we expect the market to stabilize in August and start rallying aggressively as early as September.
An earlier break above the 1W MA200 (orange trend-line) again, would confirm that, as it is acting as a long-term Pivot. Since the previous Bullish Leg peaked at +194.87%, we see no reason to expect otherwise, thus keeping our long-term Target on Tesla at $380.00, which would not only be a +194.87% rise but also reach just below the April 05 2022 High.
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Evstocks
TSLA basing on its volume profile for a trade LONGTSLA on the highly reliable weekly chart is at the bottom of its volume profile in the lower
part of the high volume area. The TTM Squeeze Indicator ( TTM = Trade the Market John Carter)
has printed a signal for four weeks. The RSI faster and slower lines are near to the 50 level.
The mean relative volatility has steadily decreased and this is in an increasing squeeze state.
This is a setup for a patient trader to take a position in a swing trade. I am looking for a trade
into the upper part of the high volume area and so to the 240-280 range. I will get some shares
as well as a few call options for November (ITM). TSLA will be subjected to a number of
variables making the trade a bit risky including the Musk compensation battle, the China
economy, competition with Chinese EVs in Europe, federal rate actions and the presidential
elections as well as the evolution of self-driving. It is TSLA's volatility that makes it a great
trade. My entry signal here is a TTM indicator going black to white.
WKHS will it rally 50% or fall below its ATL WKHS has been sideways or down since the bullrun in late February. Another EV small cap
is nearing bankruptcy unless it finds a suitor ( FSR trying to attract Nissan) WKHS has a niche
with its delivery trucks ( like for Amazon Prime and USPS). Is the concept to production
hangups and slow downs going to cause its demise? Trader confidence is lacking or are
traders simply waiting for the best possible price? Price is now about to match the all-imte lows
of mid February. Will there be support or will it fall.? Dould WKHS dead cat bounce to rise
to recent high pivots? This may be interesting and potentially profitable.
Rivian Makes the Right Moves & the Stock Rebounds to Key TechRivian had a tough couple of years, as unprofitable startups are more vulnerable to the adverse external environment from high interest rates and lingering inflation. This has softened EV demand and deliveries have been disappointing in recent quarters. Highlighting the challenges, executives believe 2024 production will not surpass that the last year. But the large output-delivery gap of Q2 shows that Rivian is offloading its inventory.
Rivian is making the right moves to turn things around and it will be launching two smaller EVs, starting in 2026. These are crucial for its future, as they will help it increase its customer base, stop the cash burn and eventually make money. The recently announced cash injection from auto giant Volkswagen can help it whether the storm and accelerate its progress.
These developments have helped the stock to relief rally from the April record lows, bringing it to a critical technical juncture. RIVN tries to take out the 38.2% Fibonacci of the slump for the end of 2023 and the EM200 (black line). Surpassing them would shift momentum to the upside and facilitate further gains.
Despite the turnaround plan and promising developments recently, the off-road EV maker is not out of the woods yet. On the technical front, a rejection of the aforementioned critical resistance cluster would reaffirm the bearish bias and enhance risk of lower lows.
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Past Performance is not an indicator of future results.
75: Identifying Support around €13.36 Amidst Selling PressureCurrently, we are witnessing selling pressure on the Fastned stock without significant buying interest. However, by examining historical data, we can identify a point of interest around the €13.36 level. This area has previously acted as a support zone, making it a potential accumulation point.
Recent developments support this analysis. Fastned recently raised €32.9 million through the issuance of new bonds, with €12.3 million coming from existing investors extending their bond maturities. This successful fundraising indicates a growing interest and confidence from private investors in Fastned’s long-term potential.
Given this backdrop, we anticipate that the €13.36 level could attract accumulation as investors recognize the company's ongoing investments in the fast-charging infrastructure for electric vehicles. As more motorists transition to electric vehicles, the demand for Fastned's services is expected to increase, potentially driving the stock's recovery.
Monitor the €13.36 level closely for signs of accumulation and potential buying opportunities, considering the growing interest and financial backing Fastned is receiving.
MBLY manufactures autonomous driving components LONGMobileye Global Inc. (MBLY) operates in the Automotive - Original Equipment sector1. The company specializes in developing and deploying advanced driver assistance systems (ADAS) and autonomous driving technologies and solutions worldwide They offer a range of products, including safety features for real-time detection of road users, cloud-enhanced driver assist solutions, and self-driving systems for various road types
MBLY on a 180 minute chart shows up and down trending in the past 3-4 months. A support level
is identified in the $24-25 range. Price is currently rising above support with an increase in
relative volume similar to that of late February and Early March.
The Awesome oscillator is green and positive at this time.
The volume profile shows a low volume overhead demonstrating little volume resistance to an
overhead move higher.
I will take a long trade here seeking those targets in the upcoming 1-2 months.
I have identified targets of 41 and 45 based on pivots in 2023.
I will take a long trade here
NIO ? Are traders ready to love it again LONGNIO on the daily is 95% below its ATH Winter of 2021 and 50% lower YTD. In China NIO is
competing well with XPEV, LI , BYD and TSLA while it makes further penetrative into the
EU market. Its unique concept in action is battery leasing and battery swapping making
charging time no longer relevant. Apparently, the battery swapping time from a depleted
battery to one carrying a charge is 15-20 minutes. Being a bottom-seeking bargain hunter quite
often, I will take a long trade here with a planned duration of two earnings periods.
Is FFIE running to earnings early ? Maybe yes. LONGFFIE is a penny stock of interest as it is also in the EV sector. Earnings are coming. In the past
two days it jumped 82%. The stock is trading 99.9% ( no exaggeration ) down from its all-time
high. On the 15-minute chart, price has jumped above its EMA cloud which inflected upward.
A massive volume inflow peaked the price action in keeping with Wychoff's theory. 42 million
shares traded yesterday morning. The EMA cloud settings are periods are 14/56/140 ( long story
multiples of 7). The slow and fast RSI lines had a golden cross of fast over slow and
both over the 50 are quite demonstrative of bullish momentum. ( settings 3 hrs and 1
week). I will play this long until earnings- adding 100 to 1000 shares per day at the low
of the day on a 5-15 minute chart. I will also look at the options chain for March 15th.
Given that WKHS did the same thing and reports the same time, something behind the
stage curtains is underway. Penny stocks are always risky. My analysis has the risk diminished
here.
LCID has another falling wedge breakout LONGLCID is making its move while Fisker got halted and will be delisted. LCID has a rich uncle, a
Saudi billionaire running the national wealth fund there. Fisker lost its suitor in Nissan and tried
to raise cash by selling cars under cost. I would be afraid to buy a car from a company about
to head into bankruptcy. Anyway, time to buy LCID for now, it has a vaccine against the
contagion. I happen to be very fond of falling wedges especially when they repeat. My skills
in Elliott Wave analysis are nil but this is one to analysis. In the meanwhile, it's a buy ( no
I am not a fan of Jim Cramer.)
LCID's vwap bounced after pullback LONGLCID trended up 40% from late June and then over 2-3 days completed a standard
Fib 0.5 retracement before bouncing off a longterm anchored mean VWAP and
reversing. The reversal is supported by the two time frame RSI indicator showing
the lower TF RSI crossing above the higher TF RSI and both of them approaching
the 50 level. The zero lag MACD shows the lines crossed under the histogram and
are now approaching the horizontal zero line. The relative rigor indicator shows
a line cross while the values were negative and now approach to the horizontal
zero line in parallel. Overall I conclude that LCID is set up for a long entry.
WKHS a risky penny EV StockWorkhorse could start working again as the 50 minute chart is showing a suggestion of a reversal
after a long trend down. Price has passed over the longest moving average which is a SMA20.
The EMA cloud ( 100, 200, 300) is starting to turn up and price has crossed over it. All in all,
there are some golden crosses here. Blue buying volume spikes are seen on the relative
volume indicator and they are about six times the running mean. In a bit of divergence the
price volume trend has oscillated up. Overall, this is a penny stock with a price under $ 1.00
It appears to be starting a trend up. I will zoom into a lower time frame and find a optimal
entry. I amy get call options as well. The risk in the trade should be limited by a stop loss
wide enough to allow for a true range or even twice that. My target is about 1.15 the price level
at the time of the last good earnings report. This is about 300% upside. It will probably never
get there but hay you never know. Stranger things have happened.
TSLA continues its downtrend toward Apirl earnings SHORTOn a TSLA chart, TSLA has been trending cown since last May. On the anchored VWAP lines,
it topped out crossing above the second upper VWAP about the first week of January '23 then
crossing under the same line on January 20, 23 Between August and October price tested and
consolidated about the first upper VWAP line. It then fell to the mean VWAP line and returned
in a retracement to the first upper VWAP line by December. paradoxically, price rose
after an earnings miss in October. From December through early February price fell through the
mean VWAP and received support with the first lower VWAP band. The faster EMA in black
crossed under the slower green EMA in early January. TSLA is last significant uptrend or
correction was a month before that. At present a continued trend direction of down
is predicted by the optimized EMA20/65 lines now diverging from a compression with the EMA
20 in black under the green EMA 65 line. A predictive modeling indicator by Lux-Algo
forecasts the persistent downtrend. TLSA could pick up support at the level of the pivot during
the April '23 earnings report or lower still at the second lower VWAP line at about 141.
Fundamentals can trump technicals but things out there are not looking great for TSLA
RIVN reverses to upside LONGIn my previous idea, RIVN was short from the highs. That position was closed today as RIVN
fell below the target. I now based on this idea have a long position. RIVN's move the second
half of today's session was supported by a strong bullish move in the general market from the
federal financial data principally the jobs report.
On the 15-minute chart, RIVN formed a head and shoulders from January 29-31. The previous
trade was from the top of the right shoulder until this morning when RIVN was progressing
through a double bottom which intraday formed a " W" or " reverse cowgirl " pattern.
The bearish ( selling only ) volume profile shows high-volume nodes at 15.8 and 16.0 so
these are my targets. Price is above the POC line of the volume profile which is a bullish bias.
Price is currently near to the level of a standard Fibonacci retracement of the previous
downtrend I will take a long trade with targets as mentioned. The ideal entry is at 15.62
above a bearish high-volume node.
Additionally, I will take a call option striking 16 for February 9th.
As an aside, FSR is presenting a similar chart pattern and set up at a much lower price point .
However, as a penny stock FSR has higher volatilities and may represent a lower probability
overall. A trader may want to take a small position in each and see how they do.
RIVN rises with LCID while FSR fails LONGRIVN popped today while FSR got halted and will be delisted. The 4H chart with BB and a
predictive algo added suggest it has room to 13.25. The indicators are supportive of that
forecast. I will take a long position here with a stop loss under the lower BB line. As to
my FSR put options I will watch them rise until expiration time. No hurry. No worry there.
RIVN's new models and FSR's demise should help for some bullish momentum until RIVN
catches a bit of FSR''s issues.
NKLA can move higher from a support level LONGNKLA had news this week with the litigation over the Badger brand. The news is over and the
real trend is hydrogen stations in California and perhaps Western Canada impacting the
buildout of infrastructure with the help of Biden administration handouts. NKLA has corrected
and fallen into the support of the Fib retracement. Zig and zag I look to enter a long trade
here and target the recent pivot high with an initial target of half way there as a retrace of
a retrace. This would be about 1.02 but I will round it down to 0.99 to be below the
psychological level. This is a risky penny stock trade. With FSR falling off the exchange,
NKLA is getting some extra trader interest which may help carry it higher. This is a 30 minute
chart and meant to be appropriate for intraday or short duration swing traders.
LITM a lithium penny stock gets momentum LONGLITM is a lithium mining company with operations is Western USA and Canada now getting a
lift as lithium prices are rising. It popped 16% today and hit a screener on volume yesterday.
This is a junior miner compared with LAC and SGML. As such it is more reactive to price. All
indicators confirm the move including the extent of the trend, relative volume spiking and the
RS lines. This is a low float low volume stock.
Accumulation of a low float could precipitate more price action upward quite easily.
As a volatile penny stock LITM is risky. Right now, I see a long trade in a
small position ( < 0.001 of account balance) for the potential gain despite the obvious risk
SL at 10% Targets at 10% 20% (red line pivots to the left-1.2o December to Feb) then 70% (
pivot low March 23) and finally 250% for the runners ( January and July 23 high pivots). Time
will tell. I expect great profit in this swing trade with stratified partial profits and less time
effort in the trend using alerts and notifications. A trailing loss will be employed at 10%
once the trade is over 20% profit.
NKLA can this EV penny stock stop the cash burn/ News LONGNKLA on the 120 minute chart has been in a falling wedge pattern and had the news of
hydrogen stations ready to go in the all important California market and now printed a
countertrend breakout over the wedge. Can Nikola stop the cash burn? Can it prevent further
shareholder dilution? Is the board protecting the interests of shareholders ? While this gets
figured out can price rise to the anchored mean VWAP and put in a 10% jump in the short term?
I intend to find out.
GM may be pivoting down SHORTGM on the weekly chart has ascended to the top of the high volume area of the long term
volume profile. The predictive algorithm forecasts a bounce down from that level. The
MACD indicator shows lines crossing over the histogram while the RSI lines are in the 60s
about the same level as the market pivot in 2022. The Supply / Demand indicator has the lines
with zero slopes ( flat) and ready for a reversal. Fundamentally, GM is challenged by the
dynamic between EVs and hybrids moving foward and federal mandates on fleet production
efficiency quota. I will take a short trade here along with Ford.
NKLA Stock Patterns Suggest a Bullish Bias LONGNKLA on the one hour chart shows several stock patterns which may suggest a trader to
sefely deploy a small portion of available risk captial here to have a good chance to make a
profit.
In the first instance, a "W" or " reverse cowgirl" pattern is seen as handrawn iin blue line. This
is bullish like the "M" pattern is bearish. The second pattern is an assymetrical head and
shoulders pattern with a rising to the right neckline suggesting a diagnonal rising resistance
over future time. Lastly a high tight flat pattern is seen with the flag of consolidation.
The flag pole is about 0.08 in height. Bullish continuation is forecasted by the pattern.
The RSI indicator shows the fast green line cycling up and down and holding in the lows above
50. All in all this is decidedly bullish. Fundamentally, NKLA burns cash and raises more diluting
its shareholders.
OF particular interest to this traders, call options for a strike of 0.50 for Fri Feb 16 went from
0.60 to 0.26 or 4.5X of the course of the day.
Stock shares or call options IMO NKLA is a buy - I am doubling my position and will watch it
on Friday using indicator alerts on the 15 minute chart. while my screen is showing other
action.
NIO Long on Disappointing EarningsNIO's disappointing earnings were not a surprise. Given the context of China's recession, NIO
did better than many expected. TSLA is down as well. NIO is doing as well as most of its peers.
On the 120 minute chart, NIO is down 60% from the end of the year highs. The RSI indicator
confirms that NIO is in oversold undervalued territory. NIO is at the bottom of the high volume
area of the profile and has been trending down with the first lower VWAP line as resistance.
I see NIO as likely to trend up as the China economy improves and for that to be reflected
in the next earnings report. NIO's innovative battery swapping program where the car owner
buys a car without a battery and is able to swap out an energy depleted battery for a freshly
charged one in 3 minutes at any of the NIO owned battery stations as a way for NIO
to excel no matter competition from the others in China including TSLA. NIO is now selling
cars in Scandinavia which should serve as steeping stone to further expansion in Europe.
TSLA to NIO market cap comparisonOn a down market day I decided to look at the comparision of market cap between TSLA and NIO by a share price ratio basis. On the daily chart, albeit with fluctuations, TSLA is continuously gaining market cap compared with NIO. This ratio allows for a tool to help decide whether to buy TSLA or NIO.
In short, TSLA is a buy at the low pivots of the ratio, while NIO is the buy at the high pivots which is right now.
Conversely, TSLA is a sell or short at the high pivots while NIO is a sell at the low pivots.
The trade right now is sell TSLA to decrease the position and use the proceeds to buy
NIO either in bulk or in increments to average in.
Nio's Uphill Battle: Losses Mount Amidst Intense EV CompetitionNio Inc., ( NYSE:NIO ) once hailed as a trailblazer in China's electric vehicle (EV) market, faces mounting challenges as it grapples with widening losses amidst fierce competition. Despite strong delivery numbers and revenue beats, the company's annual deficit has expanded, reflecting the intensifying battle for supremacy in the world's largest EV market.
Navigating Financial Turbulence:
Nio's ( NYSE:NIO ) latest financial report paints a sobering picture, with the company reporting a staggering annual loss of $2.9 billion in 2023. Despite posting sales that exceeded expectations, Nio's net loss widened, highlighting the uphill struggle the company faces in turning a profit amidst fierce competition and rising operational costs.
Strategic Shifts and Product Innovation:
In response to mounting losses, Nio's management has outlined a series of strategic initiatives aimed at shoring up its financial position and bolstering its competitive edge. These include prioritizing business objectives, enhancing system capabilities, and optimizing cost management. Additionally, the company is exploring the launch of a mass-market brand to broaden its product portfolio and compete more effectively with rivals like Tesla Inc.
Challenges and Opportunities:
Despite facing headwinds, Nio ( NYSE:NIO ) remains optimistic about its future prospects, leveraging its technological prowess and innovative solutions to drive growth. The company's aggressive promotion of battery-swap technologies and strategic partnerships with key players in the industry underscore its commitment to staying ahead of the curve and addressing consumer concerns about range and charging times.
Investor Confidence and Market Outlook:
Nio's struggles have not gone unnoticed by investors, with the company's US-listed shares experiencing a significant decline this year. However, there are signs of resilience as the company continues to attract strategic investments and forge partnerships to support its growth initiatives. Analysts remain cautiously optimistic about Nio's long-term prospects, emphasizing the importance of prudent financial management and product innovation in navigating the evolving EV landscape.
Conclusion:
In conclusion, Nio's journey underscores the inherent challenges and opportunities in the rapidly evolving EV market. While the company faces significant headwinds, its commitment to innovation and strategic partnerships positions it well for future growth.