In my opinion, long-term short sellers should have closed their NASDAQ:PSNY is attempting to break the descending trendline.
Positive divergence with RSI or MACD is a good sign...
When $3.20
When $4.00 ?????
PSNYW trade ideas
Polestar PSNY stockMassive compression on the weekly time frame... they can't keep driving the stock down non-stop without a break. It's no longer sustainable... Hedge funds will start to release the pressure, and the stock could explode very strongly.
This is a projection on a weekly basis, so, significant patience is required.
PSNY Polestar StockCup and handle pattern formation 1h time frame ???
Daily... still no buy volume...
Need to hold $2.20... but be aware, we have a gap just below 2.20. Need to be filled before we we go higher...
PSNY. If the price touches this area and there is strength...If the price touches this area and there is strength, the stock will quickly break through the rectangle.
For me, it's not safe to buy yet... either I'll wait for us to get closer to 2.98 for a small squeeze, or I'll wait for the second cross of the EMA 9 / 20.
Note that this stock is so boring that the consolidation phase typically lasts more than 90 days... lol.
PSNY Don't be too bearish at this levelPerhaps I am completely naive, almost certainly, lol... in my opinion, a bullish movement is about to happen soon. To at least attempt to reach the resistance at $3.19. Surely the short sellers will take new positions. Each phase of bullish consolidation or distribution (depending on our perspective) has lasted about 90-95 days.
But for me, we are currently in a massive "bullish" pattern that will try to break to the upside...
Worst scenario? Or perhaps, the stock will lose steam, doze off, and slowly fade away over the next 12-18 months...
PSNY: First buy signal. With Supertrend Indicator1. First buy signal with supertrend indicator
2. Gap to fill around $3.00 to $3.12 (Thanks to Barclays downgrade :S )
3. Second gap to fill (Wall Street dropped the stock after last earnings/results)
Before buying a few hundred or thousand shares, I'll wait for a consolidation of about 5-10 days, and especially for the EMA 9/20 to cross on the daily chart. Too many times we've been caught buying too early or not waiting long enough.
And if, by any chance, Wall Street decides to push the price up by +50%, I'm already on the train with thousands and thousands of shares... lol 🚀💰
PSNY PolestarPSNY has a Market Cap of $5.29 Billion and Revenue in 2023 (TTM) of $2.65 B.
Yet, the stock just keeps on plummeting... again and again and again... 😔📉
If we rely on Fibonacci levels, the last support could potentially be around $2.20. 📊
PSNY Polestar Forecast: 2nd Quarter 2023 Results & DevelopmentsPSNY Stock Forecast: Second Quarter 2023 Results and Recent Developments
Delivered 27,841 vehicles by June, aiming for 60–70k deliveries in 2023: Polestar delivered nearly 28,000 vehicles by June and has ambitious plans to deliver between 60,000 to 70,000 vehicles in the entire year of 2023.
Q2 saw 15,765 vehicle deliveries, a 36% YoY increase: In the second quarter (Q2), Polestar delivered 15,765 vehicles, which is 36% more than what they delivered during the same period the previous year, indicating growth.
Established a strategic joint venture with tech company Xingji Meizu Group: Polestar formed a significant partnership with Xingji Meizu Group, a technology company, to collaborate on their electric vehicle (EV) initiatives.
Focused on expanding in the Chinese EV market: Polestar is actively working to grow its presence in the Chinese market for electric vehicles (EVs) and is taking steps to strengthen its offerings there.
Upgraded Polestar 2 deliveries, achieving a production milestone of 150,000: Polestar improved its Polestar 2 model and has successfully produced 150,000 of these vehicles.
Enhanced Polestar 2 with better software, extended range (up to 650 km), and faster charging (up to 205 KW): The Polestar 2 received upgrades including improved software, a longer driving range of up to 650 kilometers, and faster charging capabilities up to 205 kilowatts.
Adopted the North American Charging Standard for new vehicles in North America starting in 2025: Starting in 2025, all new Polestar vehicles sold in North America will come equipped with charging ports that adhere to the North American Charging Standard.
Achieved $1.2 billion in revenue in the first half of 2023, driven by strong Polestar 2 sales: Polestar earned $1.2 billion in revenue during the first half of 2023, with a significant contribution coming from the successful sales of their Polestar 2 model.
Introduced Polestar 3 and Polestar 5 at Goodwood Festival of Speed with impressive power outputs: At the Goodwood Festival of Speed, Polestar unveiled the Polestar 3 and Polestar 5 models, both of which have powerful engines.
Reduced carbon footprint by 3 tons per car since the start of Polestar 2 deliveries in 2020: Polestar has made significant environmental progress by reducing the carbon emissions associated with the production of each Polestar 2 car by 3 tons since they began delivering these vehicles in 2020.
Collaborating with Mobileye on autonomous driving technology for Polestar 4: Polestar is working in partnership with Mobileye to incorporate autonomous driving technology into their upcoming Polestar 4 model.
Anticipate initial Polestar 4 deliveries in China before the end of 2023: Polestar expects to start delivering the Polestar 4 in China by the conclusion of 2023.
PSNY Giant Falling Wedge (reversal) Weekly & DailyFalling Wedge Pattern for PSNY chart, Polestar
In this chart analysis, it's evident that there's a potential buying opportunity if we manage to reclaim the indicated level (previous gap after Earnings). This could take 30 to 45 days, as institutional investors are not very interested in buying this stock.
However, it's crucial to exercise caution and patience, especially considering the need for a CMF (Chaikin Money Flow) reversal within the green zone.
While there's a possibility of a lower buy-in, it's important to remember that there are no guarantees of a bounce at this stage.
Traders should keep a close eye on CMF indicators to confirm a favorable entry point before taking action.
In addition, is there a potential positive divergence in the PPO (in formation)
$PSNY - Would you risk it for a bounce?NASDAQ:PSNY Bulls need to defend $3 or else 😱.
The support levels below:
- $3.00
- $2.87
- $2.32
- $1.44
Would you take the chance for play for a bounce?
Follow me for more chart analysis.
PSNY. Accumulation zone in the red rectangle?The stock dropped more than -10% after the financial results were announced. Typically, it takes the stock more than 30 days to recover its price.
1. Will institutional investors be ready to defend the price in this zone?
2. Will Elon and NASDAQ:TSLA put further pressure on other manufacturers with their price war?
3. The green rectangles, resistance, will be potential targets if the stock regains strength.
4. All investors are waiting for Polestar 4 and 3 to go into production. These 2 models will be a challenge for the company's future over the next 12-18 months.
Bear Flag Confirmed on $PSNYStock Following Disappointing Earnings.
Polestar second-quarter loss widens as it ramps up EV deliveries
Polestar lost $304 million in the second quarter, on revenue of $685 million.
EV deliveries were up 36% from a year ago.
The company is still on track to build 60,000 to 70,000 EVs in 2023, with two new models coming in the next several months.
$PSNY Bear flag before earnings ?Navigating Low Volume, Volatility, and Long-Term Downtrend Ahead of Earnings
PSNY Polestar EV Sector Penny Stock LONGPSNY ( www.nasdaq.com
production-race) as a niche EV manufacturer has a production schedule which rivals
LCID, RIVN FSR and others. On the 15 minute chart shows the trend down of price and
then a reversal deep in the undervalued and oversold area of the lower VWAP bands.
The MACD shows lines crossed and then ascending crossing over the zero line and
positive histogram. The dual time frame has consistent information with rising RS shown
in both time frames. Price has crossed over the POC line of the volume profile suggesting
buyers have predominated. I will take a long trade here targeting first VWAP at 4.55 and
then 4.75 the level of the double top of July 18/19 with a stop loss below the POC line
at 4.32 the stop loss of a dime compares with the profit potential as analyzed.
(follow up) Bullish Alert on $PSNYAlmost confirmed my topSwing setup.
Breakout of the long term downtrend
Positive price action at the double bottom.
Bullish Alert with bullish crossover
PSNY a niche EV manufacturer penny stock LONGPSNY has seen a price rise of 30 % in the past month. This specialty EV manufacturer
does not compete with TSLA but only perhaps ARVL also based in the UK.
The 2H chart is quite healthy. Price broke out above the mean VWAP anchored to the beginning
of the year on July 3rd and is now approaching one standard deviation above that. The MTF
RSI shows both the one hour and daily RSIs crossed over 50 the same day. On the MACD
indicator the K and D lines crossed confluent with the horizontal zero line. Signs of bullish
momentum found, I will take a long trade targeting 25% of upside at $6.00 which is the double
top on January 31/ Feb 1 as well as three standard deviations above the mean aVWAP.
$PSNY An EV Stock To WatchThe EV market has been hot since Tesla, Inc. (NASDAQ: TSLA) announced record Q2 deliveries last week. Following Tesla’s announcement, other EV manufacturers like Rivian Automotive, Inc. (NASDAQ: RIVN) and Polestar Automotive Holding UK PLC (NASDAQ: PSNY) joined the party by also reporting extremely positive delivery numbers. While RIVN stock jumped by as much as 54% on its deliveries, PSNY did not receive the same attention from investors as the stock only went up 5% on its announcement. Given the company’s performance this year, Polestar stock is one to keep a close eye on this week.
Polestar Fundamentals
Undervalued Stock?
After announcing a production cut for 2023 in its Q1 earnings call, PSNY reported record Q2 deliveries of nearly 16 thousand global deliveries – a 36% YoY increase. In this way, Polestar brings its total deliveries for 2023 to nearly 28 thousand – putting it on track to meet its 2023 forecast of 60 – 70 thousand deliveries.
Polestar is looking to maintain its deliveries momentum in the second half of the year as it intends to open up more than 20 permanent Polestar Spaces over the coming months and start deliveries of the upgraded Polestar 2. Through these actions, PSNY could be poised for yet another successful quarter in Q3 as its deliveries could continue to increase.
Despite the company’s positive developments, Polestar stock remains down 18.6% YTD and its record Q2 deliveries are yet to be appreciated by the market. In comparison, RIVN stock soared 54% on its Q2 delivery numbers, despite the fact that PSNY delivered 25% more vehicles in the same period.
Moreover, Polestar has a better gross margin of 3% compared to RIVN whose gross margin is at -80% which means that RIVN is actively losing money on each vehicle it sells. At the same time, PSNY boasts a P/S ratio of 28.87 while RIVN’s sits at a much higher 36.9 – indicating that Polestar stock is undervalued compared to RIVN stock whose market cap is more than double that of PSNY.
Making Deals
In addition to its impressive deliveries, PSNY is actively working to expand its market share in China as it entered into a JV with Xingji Meizu Group to develop Xingji Meizu’s existing technology platform into an operating system for PSNY’s vehicles sold in China. The new platform may increase PSNY sales in China, as the Chinese market generally has specific needs regarding software, since many services that are available in the West aren’t available in China, resulting in a lacking software experience in the Chinese market.
PSNY is also attempting to increase its share in the US market as it recently agreed with Tesla to adopt the new North American Charging Standard (NACS) to provide Polestar’s vehicles with access to Tesla’s expansive supercharging network. According to this deal, new Polestar vehicles sold in North America will be equipped with the NACS charging port starting in 2025 and adapters allowing existing Polestar drivers to access the network are expected in mid-2024. By having access to one of the largest charging networks in the US, Polestar’s vehicles could become more attractive to customers – potentially boosting sales.
Technical Analysis
PSNY stock’s trend is bullish, with the stock trading in an upward channel within a sideways channel between $3.45 and $3.86. Looking at the indicators, the stock is trading above the 200, 50, and 21 MAs, which are bullish indications. Meanwhile, the RSI is approaching overbought at 67 and the MACD is approaching a bearish crossover. It is also worth noting that the stock has broken its $3.86 resistance but is yet to consolidate and test that level as a support. If the stock bounces off the $3.86 support, it could mean that the stock has entered a new channel between $3.86 and $4.71.
As for the fundamentals, PSNY stock just witnessed a catalyst in the announcement of the Q2 record deliveries and has an upcoming catalyst in its Q2 earnings report on August 31. Considering the extremely positive news the company has been sharing recently, Polestar stock appears to be poised to run this week.
PSNY Forecast
While PSNY cut its 2023 delivery target by an average of 18.75%, the new target is still 25% more than the company’s record 51,491 deliveries in 2022 and is currently on track to reach the new target after achieving record Q2 deliveries. With the company also announcing exciting developments in its deal with Tesla and its JV in China, Polestar stock seems to poised to run this week as more investors become aware of these events’ potential. For this reason, Polestar stock is one to pay attention to over this month – especially with the company planning to release its Q2 earnings on August 31.
PSNY Break Sideway channel Break channel to upside with high volume. Pull back is normal for retest. Higher targets are on the chart.
Bullish Alert : PSNYDaily Chart with a bullish alert together with breakup of the long term downtrend.
Possible bottom at 3.20.
I m waiting for a good price action.
$PSNY An EV Stock To Watch
Already down nearly 70% YTD, Polestar Automotive Holding UK PLC (NASDAQ: PSNY) announced an average 18.75% cut in its delivery target due to a delay in Polestar 3 startup production. Despite the negative news, PSNY appears to be on the right track financially given its efforts to cut costs in order to boost profitability. With its shareholders voting regarding a significant share buyback on June 28, Polestar stock could be poised to have a major run soon – making it one to watch closely this month.
PSNY Fundamentals
Delivery Cut
Joining other EV manufacturers like Fisker (NASDAQ: FSR) and Lucid (NASDAQ: LCID) in their 2023 cuts, Polestar announced that it cut its 2023 delivery estimates by 12.5% to 25% from 80 thousand deliveries to between 60 thousand and 70 thousand deliveries. Despite this cut in delivery estimates, PSNY is set to grow its deliveries YoY from the record 51.4 thousand it made in 2022 – representing a 16% to 36% increase.
The cut came due to a delay in Polestar 3 production since Volvo needs additional time to complete the software development for the new all-electric platform which is the basis of Polestar’s Polestar 3 software. Additionally, the cut can also be attributed to the tough market conditions the EV market is going through currently, especially since Polestar is not going to enter the price war Tesla (NASDAQ: TSLA) has started in the U.S. and Europe.
That said, Polestar announced that the delay will not affect Polestar 4 production plans and it will start production in Q4 2023 as planned. With the Polestar 3 going into production in early 2024, Polestar is going into 2024 with 2 new models which can lead to an extremely strong 2024 for Polestar stock.
Financials Improvements
On another note, Polestar is trying to improve its financial situation by decreasing operating costs which it has already succeeded in reducing by 13% YoY from $250 million to $217 in Q1 2023. Furthermore, Polestar announced a group wide hiring freeze and a 10% reduction in headcount in 2023, with further reductions in 2024. At the moment, administrative expenses make up the bulk of Polestar’s operating expenses so cutting them can get Polestar closer to profitability.
Potential Share Buyback
It is also worth noting that Polestar has asked its shareholders for approval to buy back 70 million shares which would effectively reduce Polestar’s float to approximately 190 million shares. The buyback, if approved, can increase Polestar stock’s value since more investors would be interested in buying the stock – putting upward pressure on the stock price. With the shareholders’ meeting set for June 28, Polestar stock could witness a run ahead of the vote.
PSNY Financials
In its Q1 2023 report, Polestar’s assets slightly increased by 1% QoQ from $3,942 million to $3,983 million, and its cash and cash equivalents decreased by 10% QoQ from $973 million to $884 million. Polestar’s total liabilities slightly increased by 1% QoQ from $4,076 million to $4,124 million.
Revenue also increased 20% YoY from $452 million to $546 million. Operating costs decreased almost 13% from $250 million to $217 million which contributed to the operating loss decrease of 23% YoY from $258 million to $199 million. In this way, PSNY reported a net loss of $8.9 million – a 96% YoY decline.
Technical Analysis
Polestar stock’s trend is neutral with the stock trading in a sideways channel between $3.23 and $3.45. It is also worth noting that the stock has recently broken into a new channel and is yet to consolidate. Looking at the indicators, the stock is trading above the 200, 50, and 21 MAs which are bullish indications. Meanwhile, the RSI is neutral at 59 and the MACD recently turned bearish.
As for the fundamentals, Polestar’s upcoming shareholders’ meeting is a major catalyst thanks to the vote on the 70 million shares buyback. Given the significance of this catalyst, Polestar stock could witness a strong run ahead of the meeting on June 28.
PSNY Forecast
While Polestar cut its 2023 delivery target by an average of 18.75%, the new target is still 25% more than the company’s record 51,491 deliveries in 2022. Polestar is also working on cutting operating costs by reducing headcount and improving efficiencies to improve its profitability prospects. Meanwhile, the upcoming vote regarding the 70 million share buyback is a major catalyst to watch as the stock could soar if the buyback is approved by shareholders. For these reasons, Polestar stock could be an attractive stock to buy at current levels.
PSNY break out above the Ribbon (Setting up for Mark Up phase)PSNY has been relatively stagnate for a while.... which is good after an emotional dump into a new low. It means its accumulating. This company is undevalued compared to the other electric car companies out there. I wouldn't expect this stock to move a lot up front. However its cheap to do a leap on this til jan 24 and let it do its own thing. Out of all of the electric car stocks this one seems the healthiest financially and is actually delivering 100k of vehicles with goals to out do its self this year.
The indicator is the ESVO it shows where price and volume are in sync and when price breaks out above them its a sign that its hit accumulation and preparing for a mark up phase. The push back down into the ribbon is the last step before it takes off... This should bounce off the ribbon when it comes down and continue to make for new highs until it runs out of steam. This could be days , weeks , months, or even years..... depending on what time frame its doing it in and what part of the bigger move its in. Look at ENPH when it was $50.
by iCantw84it
05.02.23
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.
PSNY: DIVERGENCE / CALLS FOR MAY / US TOUR CATALYST / EV GROWTH DESCRIPTION: The following chart is an micro analysis based of technicals & current PSNY US TOUR that can soon prove to be a bullish catalyst for the next big bounce.
POINTS:
1. Deviation between Supply & Demand Pockets remains at 1.50.
2. $3.25 is CRUCIAL SUPPORT THAT MUST HOLD.
3. Break past $4.00 threshold by April 19th is necessary for bullish case to take place.
INDICATORS: In regard to indicators RSI is showing strong divergence on the 4HR Timeframe which has been indicative of a sudden bullish reaction in the past when price action has ben in a consolidating phase. An important level to watch when it comes to MACD would be -0.5 currently MACD is close to crossing over but needs to stay above to further validate play.
SCENARIO #1: In a BULLISH scenario we come to see price action break past the $4.00 threshold by at least April 19th.
SCENARIO #2: In a BEARISH scenario we lose CRUCIAL SUPPORT of $3.25 & see a continuation of bearish price action too $2.50.
FULL CHART LINK: www.tradingview.com
NASDAQ:PSNY
NASDAQ:PSNYW
