0A3U trade ideas
Nice take on WKHS from TipRanks today..Workhorse: Back to the Drawing Board, Tipranks
"For now though, investors should just watch the stock from the sidelines as a listed market valuation of $2 billion is very rich for a company missing 2020 targets and losing out on a major contract. As the company hits the drawing board and comes out with a new game plan, investors can reconsider the stock likely at lower levels."
Bearish flag on WKHS heading below $10NASDAQ:WKHS Workhorse has had some quite bad news in the last couple of days, including the loss of a $6 billion vehicle contract, offered by UPS to one of WKHS competitors. What could have been a massive push to the company's vehicle orders is now gone. Well almost, because Workhorse management want to meet with UPS to discuss the matter. Though I would be very surprised that changes anything to the outcome of the contract awarding.
From TA perspective, buying a stock that has lost half of its value within a few days is tempting, but not always a good idea. I see it forming a bearish flag before continuing the dip, which could lead the stock below $10. The RSI is also showing a big weakness.
BUT, don't get me wrong, I don't recommend to short the stock as the risk-reward ratio is not great, but I prefer waiting for the bottom to buy, then ride the stock back up.
Long trade on WKHSLong over 20(200MA on daily)..
- Broadening formation
- RSI oversold
- bounce of TL support
- PT1 23.18
- PT2 28.11
- PT3 30.45
Workhorse earnings surpriseQuite possibly the ugliest earnings to earnings chart I've seen. Is this opportunity or a dead end? Only time will tell. Workhorse Group (WKHS) reported 4th Quarter December 2020 earnings of $0.25 per share on revenue of $0.7 million. The consensus estimate was a loss of $0.12 per share on revenue of $1.3 million. (Reuters) - Workhorse Group Inc will meet with U.S. Postal Service on Wednesday to get more information on a multibillion-dollar contract that the electric-vehicle maker lost to Oshkosh Defense for making postal delivery vehicles. “We have requested pursuant to the publicly provided bid rules -- bid process rules, additional information from the U.S. postal service and have scheduled a face-to-face meeting with postal service on March 3,” Workhorse Chief Executive Officer Duane Hughes said on a conference call with analysts on Monday. Do your own due diligence, your risk is 100% your responsibility. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Small incremental steps work : If you double a penny a day for a month it = $5,368,709. Good luck and happy trading friends...
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WKHS Looks perfectHas done the same thing 2 times. We can see another move up. Looks textbook ready.
$WKHS a Trade Idea!The shares of $WKHS sank 52% in two days this week after the USPS said Oshkosh Corp., not Workhorse, would get a contract to build new vehicles for mail carriers. They rebounded 25% on Thursday after a congressman said he was trying to reverse the decision, only to resume the drop on Friday. The stock lost 51% of its value this week.
Fundamental analysis:
This might create great opportunity for investors to BUY dip.
However; we should be very careful .
Technical Analysis:
$15 per share acting as strong support for $WKHS.
The price tested $15 area 3 times and got rejected as it was marked on the graph.
Here we can risk 4-5%, But if the upward tred starts moving the reward will be bigger.
Wkhs volume analysis - longSell off had been quickly offset by large volume in buying.
See 4H candles.
Also, on 5m chart, high volume near the end of trading day. That’s why buyers do when they don’t want to alarm anyone, driving prices higher before necessary.
Neutral to very bullish.
Never Underestimate the Horse..Never speak too soon, especially when it comes to Workhorse, one of the manipulated stocks on the Nasdaq..
"Workhorse (WKHS) Up 15% After Report Says House Democrat Vows to Stop USPS Contract with Oshkosh Corp. (OSK)"
WKHS buy the bloodWKHS didn't get the USPS contract, so all the Youtube kids are getting shaken out... But Cathie Wood is still buying.
Workhorse Group - EV companysaw a sharp drop cause of losing UPS contract;
heavy overreacted and a counter move is possible
entered 15,20 USD
vwap sits atm at 20 USD as 1st TP
still 26,71 USD is possible with good earnings figures as 2nd TP
good luck
no trading advice
$WKHS Trade Plan... In at 23.41 ----> Target 28.40 for 21.32%$WKHS Trade Plan... In at 23.41 ----> Target 28.40 for 21.32%
Definitely took a hit on this one, but I can see the target being hit... or I might have to average down a little but I'll update when I do.
GL
WKHS Major overreaction to the loss of the UPS contract. This is still a young EV company and has shown that it will continue to find a place in the market
We have a couple of scenarios here.
1. They beat on earnings and they quickly get back to trading in a -+$20 zone
2. The tank earnings and you could see a break of support (all the way to $10 IMO)
3. Earnings has no effect and they slowly consolidate until the next major catalyst
Either way, there are some opportunities here for WKHS, I sure the UPS contract won't be the only gov contract we'll see go to various American EV companies.
(Not financial advice do your own DD)
Bullish WKHS theoryToday is my first day analyzing charts. I was looking through my watchlist and saw that WORKHORSE climbed significantly in after hours trading.
Upon further examination I saw, what appears to be, a consistent uptrend in the charts which began post earnings in 2020.
I was still curious as to why the sudden interest after hours. I observed that there is an earnings coming out at the end of the month, or there about. I observed the life span of the stock and noted that the RSI consistently climbed to above fair value post earnings. This tells me that, more often than not, the earnings have been strong. I also located an article stating that there is a significant possibility that WKHS will be given a contract to replace the USPS fleet. Although this contract is not solidified it does offer a short term “hype” value to the stock.
DAY TRADING VALUE:
I would label this stock as a “Come back King” as it has multiple points breaching the top RSI FV line and not falling below the lower RSI line. PLEASE NOTE THIS IS BASED ON THE LIFETIME CHART NOT THE DAILY DATA.
It is currently at the lower end indicating a possible oversold status on the daily chart (RSI 38.38 as of 20:00 hours on 2/19/2021) which could indicate a good buy in point.
5 day chart shows a solid down trend with value falling from 37.77 high on 2/12 to a current value of 33.05 as of today’s date (2/21/2021).
With earnings coming 3/1/2021, this stock may yield some good volatility for day trading.
LONG PLAY VALUE:
Given all of the evidence, I would conclude that this is a long term play. The value of this long term will definitely be based on the information presented in earnings AND the companies ability to win the contract with USPS.
(please let me know how I did with my first chart analysis!)
Thank you
Daniel
TECHNICAL - EV - Workhorse Group. $WKHS - Long to 30Quick Technical:
- Oversold
- Short term PT: 30
- Demand zone
potential rebound to $18.5its showing some signs for rebound on 30min chart.
Please note: I'm just sharing my view. its not a recommendation for buying or selling.
WKHS Beat Down. WKHS has been beaten down over the past week, dropping nearly 60% in share price. Good buying opportunity?
Hate to say I told you so, but..It's not open to debate anymore everyone: that the USPS contract WAS a farce, as I tried telling everybody for more than a year. Looks like after all this time, I was right after all..
Anyways, sorry to all the WKHS investors, sucked in by the hype from all paid stock promoters, who lost all their money..
WKHS, support and resistance levelsIt is keeping its support levels, but the current level is not a high volume one, so I may try to break 16.5-17 area with high volume node concentration. Ina red market or with no PR, it may retest the green support line and even break that to see 10 as the next support line. Not a good risk/reward at the moment imo.
