Car PartsPretty simple idea on this one, stock hits this bottom trend line and recovers 200-300%. Could take a little longer for the return, but seems easy on r:r
PRTS trade ideas
PRTS - Penny stock about to launchPRTS is a car parts online seller. During covid boon, the company grew agressively, so is their share price and market cap.
Since then, not much dilution, 600m NR, P/S is below 0.1!!
Issue is profitability, the company does not have a debt issue, current cash and current profitibability and FCF can last years so no dilution to be expected.
In July, they started a TV commercial campaign, insider buy at 1.09 level for 100k usd. I mean for me this is an obvious play, but at 1.10 below, ride to 2 usd easily. Even then P/S will be still 0.2 and with their transformation of product portfolio, if they post a profitable quarter end of the year, easily we will x3 here.
I put enough money that I will not be sad if I lose. I think we are at the floor prices but anything can happen, this is not classic mag7, yet I see a very nice risk reward with stop loss at 0.95
$PRTS Looking at NASDAQ:PRTS it appears to have formed an inverted cup and handle formation on the 1d. It has also formed a Supply Zone close to the demand zone. bringing the FVG to a low. Once this breaks 7.43 i expect it to rocket upward out of a short squeeze.
PRTS - short breakout from horizontal supportbroke horizontal support
Setup:
NASDAQ:PRTS 1D chart
SL placed above last pullback
enter with limit order @ low of range level
TP @ level of previous resistance turned support from 2019/20
carparts.comThe company is experiencing improved margins as well as record sales growth. This is a good way to keep investors interested in the stock during this difficult time. A standard car will now last approximately 12 years or 200,000 miles. We'll need spare parts.
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CarParts - PRTS - Growth Opportunity?CarParts - PRTS - I know CarParts aren't as exciting but PRTS is looking good for growth based on technicals!
PRTS seems at a bottom- Strongly retook 20 EMA weekly. Next week will likely be soft. But long run it probably goes back to ATH.
- watch for 16.41 level to overtake next.
Pretty structure forming in PRTSPRTS is forming a nice pullback (on decreasing volume) after a big jump due to their announcement on increasing EV parts. IV has jumped substantially so people are anticipating a big move from here. A jump to the mid to lower twenties is my pt.
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
Long | PRTSNASDAQ:PRTS
Possible Scenario: LONG
Evidence: Price Action, Option Activity
TP1 ~15.45$
TP2 ~17.30$
This is my idea and could be wrong 100%
PRTS LONG BREAKOUTClear evidence of a symmetrical triangle on the verge of breaking out. I believe the bullish trend leading into this triangle should be a indication of breakout to the upside, however we should also be aware of the potential downside. Breaking below the bottom support of this triangle could lead to a correction testing support at around $ 9.00 - Breaking out above resistance could allow us to test highs of about $ 16.00. -
PRTS finally started moving to upper part of the channelfinally started moving upwards step by step within its channel, the speed maybe sooner than later. Nicely inline with technicals from overbought position in short term.
will prts get soon to 15?averaged down today on $PRTS, tomorrow should move to top part of the channel its moving in. Lets see how this evolves. Any comments?
