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Ride

NKLA Cup and Handle Pullback for Long EntryNKLA on the 2H chart appears in a cup and handle pattern with the full pattern including the bullish continuation now printed. The pattern predicts $ 2.00 of upside . While the fundamentals of a change of CEO may be concerning, the the creativity of finding cash during a slow cash burn without diluting current shareholders. Perhaps he will have two classes of shares as a remedy. There are upsides to "fresh blood". NKLA has been on the rise for two months albeit with some volatility as seen in the price oscillation from the base of the cup. The uptrend is that of a parallel ascending channel. The rise of the amplitude on the AO indicator is reassuring and shows the bullish momentum has the strength of bull legs. I see the pullback in the last trading session as a buy entry. Let's go long! If you are interested in my suggestions of the stop loss and targets or an equivalent options trade, leave a comment. If you found this idea helpful, please like and subscribed.
NASDAQ:NKLALong
by AwesomeAvani
6
WKHS reverses in sync with NKLAWKHS is in similar circumstances as NKLA in the potential for a delisting due to low share price. NKLA has been cleared and is a bit above $1.00 ( see my bullish bias idea) Here WKHS is below $1.00 but is apparently reversing. On the 30 minute chart, price is rising and is above various VWAPs anchored to the left at various points. The last trading day saw a price rise of over 8% Relative volatility has changed from red to green and is above the running average. The zero-lag MACD shows parallel lines rising above the histogram. The three in one indicator shows that money flow, RSI movement and momentum are all bullish. I see the setup as sufficient for potential profit given the risk. I will take a long trade here selecting an exact entry on a lower time frame chart. The stop loss will be just below the VWAP lines at $0.8335. ( A rising tide lifts all boats? - FSR FCEL PLUG AND NKLA are rising . so are TSLA and Ford- I love the buoyancy !)
NASDAQ:WKHSLong
by AwesomeAvani
$RIDE - The wedge continuesHi all, Nothing's changed with Lordstown's position. This post relates not to Lordstown's financials or fundamentals but to chart technicals. In my own data that i follow for all stocks, Lordstown seems to be nothing special and has absolutely nothing going for it. In terms of charting, Lordstown is in a huge bull wedge (which doesn't make sense, i know, but there it is...). The wedge continues. A couple of the previous candle wicks from the last 15 days have extended the wedge's range slightly to a new possible low of $1.6. That or the wedge is about to be broken out of for reasons i'm not sure of. Suddenly all other companies e.g NKLA are considering a reverse split to get them out of a similar position like Lordstown had. Funnilly NKLA is an actual scam with it's president Milton being convicted of fraud and all that, meanwhile our boi Hightower with his wheel motor hubs isn't doing terribly in terms of the hardware/tech and actually has something that doesn't need to be pushed to make it roll on a road like NKLA did. Excessive bearishness on Reddit boards and such are making me bullish on this stock. I'd like to think there's a possibility that RIDE will make it out of the hole. If it does, all these bears are going to have their accounts blasted. I re-iterate that i think that for surprising reasons, this wedge will break out eventually. My investment horizon on RIDE is long term and not meant to be a short term trade. The wheel hub technology in my opinion could actually be very big as long as Ride can make it out of it's hole. The market is moving upwards with no regard to any of the doom and gloom being blasted to us by the financial media. During this time, RIDE has underperformed or as it should be said... shorted. This is a good way to do things if you're a short seller because if the market is eventually bound to correct hard, when it does, market makers and others will take care of shorting all stocks including RIDE for you and the resulting dump will be pretty damn big. Not only would you have managed to make a stock go down (and against the market) but when the market actually dumps and all stocks have to follow, it'll move down with the market for free. The problem arises when the market isn't giving you your all so awaited correction within a certain timeframe. If this happens, the short becomes more expensive to fund. Since RIDE has already been long time favorite short since 2021, i believe that at any time now, any kind of surprise by Lordstown itself can catch plenty of the institutional bears by surprise, but really not as much as the retail bears who have gotten cushy with short selling on Lordstown. If and in my opinion, WHEN Hightower is done with the current Foxconn "situation", some shorts could get blasted out of the water. Persistence/conviction shorting into RIDE's good news will be obvious what everyone will be doing for another 1-2 years after that because shorts just like longs want to avoid the reality of things. Then those shorts will get blasted out of the water taking us higher, the cycle would continue. Again, this all will happen only and only if Hightower & Foxconn happens. Foxconn isn't in a great (but not terrible) place either with Revenues down 11% Y.O.Y due to their TV/Computer screen section. In my opinion diversifying into EV regardless of this issue with revenue would be a good idea just to diversify risk with what exactly happened with Foxconn & Sharp. Hopefully Foxconn's management sees exactly that and will know what to do about it. My position as usual is 1000 x $0.5 calls bought and 1000 x $0.5p sold for 2025 pre-split. Hoping to add more as the price touches sub $2 due to the insistent bears conviction shorting this stock on the status quo. The status quo in my opinion has made everyone too cushy, if it changes as these things sometimes do, that'll be a nice sight.
RLong
by leenixusu
$RIDE - 1:15 SplitNothing much to say here. The situation with RIDE is the same as before. Foxconn decided to break their contract and not buy NASDAQ:RIDE at the price of $1.70 as previously agreed since the price of the stock had declined to $0.30. It seems the cost of business of just breaking contract was better for them than to actually go ahead and buy NASDAQ:RIDE shares for said price. Lordstown / NASDAQ:RIDE had to finally implement a reverse split in order to bring their stock price back into compliance with Nasdaq's rules where a stock cannot be below the value of $1.00 for an extended amount of time. By reverse splitting, the price of the stock should go somewhere around $3.80. OCC Memo: -Lordstown Motors Corporation (RIDE) has announced a 1-for-15 reverse stock split. As a result of the reverse stock split, each RIDE Class A Common Share will be converted into the right to receive approximately 0.066667 (New) Lordstown Motors Corporation Class A Common Shares. The reverse stock split will become effective before the market open on May 24, 2023. Cash will be paid in lieu of fractional shares. New Cusip: 54405Q209 Deliverables for Call/Put writers: -The RIDE component of the RIDE1 deliverable will settle through National Securities Clearing Corporation(NSCC). OCC will delay settlement of the cash portion of the RIDE1 deliverable until the cash in lieu of fractional RIDE Shares is determined. Upon determination of the cash in lieu amount, OCC will require Put exercisers and Call assignees to deliver the appropriate cash amount. TLDR if you wrote calls or puts, you're gonna have to have some cash in your account to deliver upon your new liabilities. I sold 1000 puts so i have something to pay here. Technicals: -The big wedge is coming to an end. Let's see what happens. Fundamentals: -Product is great, financials & backing are not great. My opinion: -The company is in a difficult place and has a higher chance of not making it than actually making it which is why the risk payoff on a possible reversal on this is extremely high. The risk of loss of your investment is also very high. My positions: -1000 calls, 1000 puts at the $0.50 strike with plans to sell that much more post split in the new chain. What you should do: -Probably nothing. The EV sector is a difficult place to invest in right now. You do you.
RLong
by leenixusu
PSNY Polestar EV Startup Can it Rise from Bottom?PSNY ( Polestar) has dropped to its lows after an earnings report which shown it still has no cash flow but at least the losses are less than projected by the analysts. On the chart zoomed out, price is in megaphone pattern which demonstrates increasing volatility. Price is at the bottom support trendline and one standard deviation below the anchored VWAP. This suggests 15% upside in the immediate short term. Price action is starting to resemble that of Fisker (FSR) . I see this as a risky swing long trade as price tries to rise to the VWAP and POC line of the volume profile. ( PSNY is in better shape than NKLA and RIDE but not by a whole lot ) I would be very reluctant to make an investment in Polestar but happy to play the volatility for profit.
NASDAQ:PSNYLong
by AwesomeAvani
2
RIDE is coasting downRIDE is an EV Nasdaq Penny Stock. It is in danger of delisting. A major financing deal fell through. This company is having a hard time getting traction much like MULN and FFIE. On the chart, price has fallen down into the lower Bollinger Band and is at the bottom of the high volume area of the volume profile. My forecast is continued trending down until it gets near to the prior swing low at the beginning of this week. There the short sellers will liquidate and a new wave of "riders" will take a ride. That said, I have bought put options today and expect to sell them out and switch to calls next week, They are for 10 DTE and should appreciate quite well fairly quickly.
RShort
by AwesomeAvani
$RIDE - TA Bullish Wedge, future grim.Lordstown motors is what might be the end of the bullish wedge. There may be a month or two left in it before anything really happens. My research on RIDE is not deep, not great, not bad either. --Fundamentals-- RIDE's hub motors are the main drive (pun) here. Foxconn showed some interest initially and did the deal with them but is not showing up to be a daddy figure when RIDE is struggling with it's delisting notice. They are relying on anyone interested in the company to basically fund them and that's not really happening. Rivian and other new EV companies need RIDE to go under because what RIDE is offering as a product is actually good. That doesn't change the fact that their stock isn't doing good and is likely not to do good in the future... RIDE has asked for votes FOR or AGAINST a reverse split to bring it's price back up to a level where it's compliant with Nasdaq's rules. People on social media are "saying" that they are voting against a reverse split which doesn't make much sense if you're a shareholder which makes me think that getting sentiment from social media may not be correct so i'm not gonna rely on social media sentiment from random comments that don't make sense. --Stock/Options etc-- Nothing special going on other than some strange much larger than usual volumes on the 0.5 Call and Puts. As of today the 0.5c had over 1000 calls in volume which is extremely big for this stock and hasn't really happened in over a year. This is either positive or negative delta for the stock, we'll see... based on the direction of the rest of the market, i think this is someone banking on the stock dropping more. -Technical Analysis-- Nothing much for me to say here other than that this may be the end of the bullish wedge... a breakout from here for unknown reasons would be spectacular. If a pop happens here, (don't know why that would happen), i doubt short sellers will have any trouble eventually suppressing it and causing the price to drop even lower than before. If a breakout here is fundamentals based (acquisition/merger/buyout... something) then RIDE would suddenly become a huge long play. Don't forget they are at risk of delisting and there's basically better stocks out there with less risk. I have a small bet of MYX:HUMEIND on shares at around the $5.1 area give or take a few pennies in case this wedge truly does play out. If it fails and i lose my money i won't be too unhappy because i understand the risk. That's all. Good luck. Hoping this really battered and fundamentally bad but sorta good but sorta not very ok stock might do something based on Technical analysis and options flow. Rivian has earnings very soon and is likely to cause RIDE to drop even more due to being same sector stocks. A drop in Rivian will cause RIDE to also drop so it's maybe prudent to wait for that. Lastly, again, that 1000 contract buy at 0.5c was a bit surprising. I hasn't happened in literally years... this is 1 full buy of 1000 contracts. It's not a lot of notional in money, like $30k, so it might be just someone in retail. Who knows. Play safe (or don't, that's up to you)
RLong
by leenixusu
RIDE is on the HIGH ROADNASDAQ:RIDE RIDE , an EV stock has a catalyst in the new federal legistlation. It has been rising in an ascending channel since early July when it reversed a downtrend with a double bottom Here on the 4H chart are supply demand zones, the volume indicator and an EMA ribbon surrounded by Bollinger Bands. Blue volume spikes with the recent excellent earnings report and then the federal legislation have given RIDE buoyancy. Presently, it is sitting in the lower portion of the ascending channel and the middle of wide Bollinger Bands. I see RIDE as an excellent swing trade setup with a stop loss under the support zone and a target above the resistance zone near to the high price on the chart set on earnings which also corresponds to a high volume node on the volume profile. at about the recent high set on
RLong
by AwesomeAvani
COMPOSITE INDEX Electric Vehicle Stocks TRENDING BEARISH In this daily chart, I made a composite index of electric vehicle stocks using an approximate formula weighed by stock prices but not market cap. ( ( $NIO + $LCID + $RIDE + $NKLA +$WKHS) x 50 ) + $TSLA This serves as an approximate normalization adjustment of the varying stock prices in the collection of stocks. I did this to later check to see if there is any effect of new legislation impacting federal tax credits for electric vehicle adoption as a catalyst for price action. So far YTD, the composite at large has fallen 18.5% varying from TSLA is down 6% and LCID as an example of others is down 36% The composite will be a quick and easy way to see if the composite and so the market cap of the underlying stocks inflects its downtrend responsive to the federal legislation catalyst.
NASDAQ:NKLA
by AwesomeAvani
3