GOEV trade ideas
Correlation study of EV makers!When I compare the EV maker stocks, I noticed 2 companies have different behavior in comparison to others and interestingly the have positive correlation to each other while having negative correlation with other EV makers!
These two companies are Fisker (FSR) and Canoo (GOEV). While most EV makers experienced more than 30% price correction in the last 3 weeks, FSR (28.50) is almost 90% above the last 3 weeks close(15.40)!
The important point is everything happens 2-4 weeks sooner in FSR in comparison to Canoo (GOEV). 2-4 wks delayed time cycle!
We should wait and see if such a move is going to happen in GOEV as well, or it is going to follow the EV makers group!
GOEV - nice looking wave structurePretty simple one. With a partnership with Hyundai and pretty solid board of directors this might be a nice growth play.
Is CANOO the next big thing ? Hyundai motor was in early-stage talks with Apple about potentially working together to develop an electric car. - Report CNBC
So what's the connection with Canoo? Canoo and Hyundai announced a partnership last year to develop an EV platform, which would likely use Canoo's proprietary "skateboard" platform architecture. Canoo said availability would begin in 2022, with scaled production and launch planned for 2023.
If all goes well, I reckon CANOO will keep climbing to beyond $50.
Catalyst/Source:
- www.theverge.com
- www.cnbc.com
- www.hyundainews.com
- Joe Biden signs executive orders to cut US oil, gas, and coal emissions
GoEv ideaBeen following go ev since the aapl rumors, I recently seen they have been following google execs and Waymo execs on Twitter. I’m still new to charting most of my ideas are private. Give me some feed back
such clean triangles $goevI just like how clear the trend is but its not too refined to be a serious Idea. don't get me wrong I will buy but I would say the likelihood that which this happens is lower than the rest of my ideas. I have a bias towards this company (not good in trading) .
GOEV - GO TIME GOEV is gearing up for a big move.
If we can cross the 17.08 level established by our volume profile we can see a very fast and decisive move to the midline of our pitchfork.
Bullish on $GOEVEV company that’s been trading within a triangle this year and has industry potential to skyrocket. Volume has been accumulating, and there is a large cash flow for OTM calls. The RSI is soon its way up while the MACD is about to reverse, which are bullish signs. If there is good news, this can break above the triangle and make new resistance. The ideal entry is above 16.77 to hold that Fib line with a target price of 17.5, then 18, and so on. I’d suggest a short term trade here as it may bounce off resistance, and Implied Volatility has no clear direction.
$GOEV TREND REVERSAL? 4hr chartWhats up guys,
Lets take a look at $GOEV.
-As you can see, price is trending up.
-Price action looks like its consolidating in the $16 area of support.
-Price needs to get back above the 9d and 21 day moving avg.
-The OBV looks slightly bearish as you can see its moving to the downside, however
the MACD looks like it ticking up and RSI is about neutral.
. Break out of the pennant around $19 can possibly see price visiting the targets above.
Let me know what you think in the comments!
Cheers!
-DP
GOEV!Looking hot. Reminding me a lot of CLVR befoee last pop I called. I’m in at 16.63. I got breakout to 28$. Breakout above 18$ with volume and hourly close at least above 18$ should be a big move. Either load now or wait for confirmation. Feeling bullish. Let’s goooo goev!!! I think next week we get this breakout !!
Can GOEV run like NIO?GOEV is an EV company and has strong backing with Hyundai. In there investor day presentation they mentioned a push for a fully autonomous vehicle and a subscription model that is different from the traditional car buying. “Innovation that excites”… Still a highly speculative stock but the technical aspect looks primed for another run. Watching this for a bounce off the bottom support line of the triangle and a break out (with significant volume, 1/3 of avg vol is low and could be a false breakout) of the triangle to begin its push back to ATH.
Key Levels
Resistance: 16.67, 17.21, 18, 18.89, 19.96, 20.44
Support: 15.68, 14.51, 13.51, 12.09
Ways to play this
1. As always safest way is to load shares
2. Scale in couple month out calls as its near support (catching the dip before confirmed reversal)
3. Wait for the breakout of the triangle to scale in long term calls (sacrifice profit for confirmed reversal)
*TIP: draw trendlines and set an alert to catch the breakout and enter (one on the falling wedge (15m) and the overall triangle resistance (1/4hr)
Option Ideas:
20C 5/21 2.35 (low risk: high reward)
25C 5/21 1.55 (medium risk: high reward)
20C 3/19 1.00 (low risk: high reward)
20C 2/19 .15 (lotto)
GOEV - long - wedge BreakoutCanoo, Inc. manufactures electric vehicles. It designed a modular electric platform purpose-built to deliver maximum vehicle interior space and adaptable to support a wide range of vehicle applications for consumers and businesses. The company was founded in August 2018 and is headquartered in Torrance, CA.
SHORT - $GOEV Potential Bearish Gartley Not at entry yetNot at entry yet. Short entry would be around $22. Each of the 3 setups provide a 3 R/R at the different targets of the gartley. I personally would exit at the first stop.
GOEV breakout formingLooking for a breakout after todays movement
Sitting on resistance
Volume looks great and bullish
$GOEV setting up for symmetrical triangleLooks like $GOEV is setting up for a triangle with a breakout incoming. I cashed out at the possible high and worth buy more April calls on the retrace.
Canoo (GOEV), Hyundai & Apple.The Apple car could be made with Hyundai's EV platform. Canoo and Hyundai announced a partnership last year to develop an EV platform, which would likely use Canoo's proprietary skateboard-platform architecture. A potential Hyundai-Kia manufactured Apple EV could benefit Canoo in several ways. Related to its Hyundai agreement, Canoo said in an investor presentation that "Hyundai Motor Group expects the new platform using Canoo's skateboard architecture to allow for a simplified and standardized development process, lowering vehicle price." Canoo (GOEV) is a maker of special-purpose electric vehicles (EVs). 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...
*3x lucky 7s of trading*
7pt Trading compass:
Price action, entry/exit
Volume average/direction
Trend, patterns, momentum
Newsworthy current events
Revenue
Earnings
Balance sheet
7 Common mistakes:
+5% portfolio trades, risk management
Beware of analysts motives
Emotions & Opinions
FOMO : bad timing
Lack of planning & discipline
Forgetting restraint
Obdurate repetitive errors, no adaptation
7 Important tools:
Trading View app!, Brokerage UI
Accurate indicators & settings
Wide screen monitor/s
Trading log (pencil & graph paper)
Big organized desk
Reading books, playing chess
Sorted watch-list
Checkout my indicators:
Fibonacci VIP - volume
Fibonacci MA7 - price
pi RSI - trend momentum
TTC - trend channel
AlertiT - notification
www.tradingview.com
GOEV Triangle BreakoutGOEV looks like it may be breaking out of this symmetrical triangle however the breakout has not been confirmed. It is up over 11% on the day backed by strong volume however it looks to be finding some resistance at the top line of the triangle. I will continue watching price action for a confirmation or rejection of breakout. If breakout is confirmed I will buy and look for a quick 10%-15% return.
