VLCN trade ideas
VLCN: Bullish Gartley with Bullish Divergence at a Double BottomVolcon is potentially forming a Double Bottom with Bullish Divergence and is doing so at the potential HOP Level of a Bullish Gartley on the Hourly with Bullish RSI BAMM Confirmation. If this Gartley plays out we would expect a move towards $3.00 this move towards $3.00 could then lead to a Double Bottom breakout which would take the price up to around $7.00
VLCN LongVolcon, Inc. (NASDAQ: VLCN) is pioneering the all-electric, off-road powersports market. The company designs and manufactures electric two and four-wheel motorcycles and utility terrain vehicles (UTVs), also known as side-by-sides. Their product line includes innovative upgrades and accessories to enhance the off-road experience. Volcon aims to lead the transition towards sustainable outdoor adventure by offering electric vehicles that promise high performance without the environmental impact of traditional gas-powered engines. Their efforts include expanding their vehicle lineup and improving technology to meet the growing demand for eco-friendly powersports options.
We are currently in a Double Bottom with a Gap down into the base. With short sellers taking profits and buying back positions, we could start to see price make a push to close the price gap. There was a reverse stock split that occurred on 2/5/23.
