WKHS trade ideas
WKHS Long (trade in play)A strong breakout has finally happened. A pattern something like this will be ideal. I've been watching WKHS since $13 and the company might finally be turning some profits soon.
Some reasons for a rally.
1.) They received an order for 6300 vehicles. (January 4th 2021 -> minify.link)
2.) Big EV names (NIO, TSLA, PLUG etc.) have made insane moves while WKHS has been standing.
3.) Earnings is coming up (March , and with the big orders there might be a big run up with expectations of positive earnings.
4.) The open short float on January 26, 2021 was 30.99%. That is massive and if price action starts to pan out there might be a short squeeze (kind of like a sympathy play for GME, just on a way smaller scale).
I am just a small retail trader, but the idea is for the EV and Short squeeze hype to transfer to WKHS. I am willing to risk some good money on this trade, and I am not responsible for anyone elses trades.
Please criticize this play! Pick it apart, I wanna know why you think it's bad! We can all learn.
WKHS ReversalWKHS has been on a slow decline recently ever since the news of them not getting the USPS contract.
It has steady been in the demand zone for a while. RSI showing a bullish divergence and Cathie Woods had been loading up on the dip. Gap to fill at $30. Potentially a good long term play. Catalyst would be the USPS contract.
WKHS Flag w/6 testsWKHS has formed a flag pattern to the downside. It has also tested 12.50 support 6 times, with each test support gets weaker. It is also closing into the end of the consolidation pattern where a breakdown is looming. There is a gap in the chart that needs to be filled between the 11 and 10.40 area. Expecting a breakdown with a market pullback
WKHS, BIG MOVE COMING!Hello fellow traders and investors, here's another trade idea.
WKHS has recently pulled back to the common support area and has since been consolidating, if WKHS makes a recovery to the take profit zone it offers around an 85 to 115% ROI.
Technicals:
The Macd indicates that it's oversold and in an uptrend
The EMA's are in a downtrend
The RSI is oversold
When To Buy:
If you are more conservative, wait for the EMA's to crossover however if you want to be more aggressive then take a position right now and slowly add to your position size when it indicates a reversal.
When To Sell:
I recommend selling at the take profit area
Fundamentals: Workhorse is a technology company, which engages in the provision of sustainable solutions to the commercial transportation sector. It operates as an original equipment manufacturer, which designs and builds battery-electric vehicles including trucks and aircraft. The firm also creates all-electric delivery trucks and drone systems. They have a P/S of 1293 which is absurd however its valuation was based on their potential future since they have a sales growth Q/Q of 24,826% and an earnings per share growth of 42713% Q/Q, an ROI of -11%, a debt/equity of 0.50 and a very high short float of 27%.
Rating: 70/100 the technicals are good, the fundamentals are decent so I think the risk/reward is definitely present however make sure to watch your position size.
NOTE: I most likely won't be buying WKHS however if it meets your criteria then add it to your watchlist. I think WKHS will go to 18.50 then pullback and eventually make its way to 28.50
I hope you enjoyed this quick analysis and many more to come.
If you enjoyed leave a like, follow, comment your thoughts and share this trade idea.
Thanks
2x upside to this stock - opportunity 70% decline from ATH
bottoming out at 0.7 fib support
Had its fare share of fear and panic
I think within a 2-3 month time horizon we can see workhorse beig in the high 20's
Ive sold my Chargepoint at $30 (bought at 20 see post)
Using this money to buy workshorse.
$WKHS EV Vehicles and Drones Workhorse Group Inc., a technology company, designs, manufactures, builds, and sells battery-electric vehicles and aircraft in the United States. The company also develops cloud-based and real-time telematics performance monitoring systems that enable fleet operators to optimize energy and route efficiency. It offers electric and range-extended medium-duty delivery trucks under the Workhorse brand; and HorseFly Unmanned Aerial System, a custom-designed purpose-built all-electric drone system. The company was formerly known as AMP Holding Inc. and changed its name to Workhorse Group Inc. in April 2015. Workhorse Group Inc. was founded in 2007 and is headquartered in Loveland, Ohio.
WKHS SHORT BULLISH SETUP (BY 4/16)WKHS entering an extremely bullish setup with fib and trend analysis. Used stock history to analyze fib retracement and then used a standard mountain and two shoulder theoretical approach. Fib is setting up, with trendlines, for a down wedge with extremely large upwards potential. Option analysis proves that bulls want to take this stock upwards of $30 by mid April, which I can very clearly see. I am not a financial advisor.
WKHS Swing-Trade IdeaWKHS (Workhorse Group, Inc.) is a swing-trade idea that presents the following (Bullish) conditions:
1.) The 5-day moving average is about to cross the 21-day moving average price. When short period moving averages cross above long period moving averages, it tends to indicate an upward price movement.
2.) The monthly "Moving Average Convergence/Divergence" (MACD) histogram (indicator at bottom) is ending a down wave and beginning a new up wave.
3.) The concentration of volume (Blue/Yellow bars on left) indicates that the majority of investors currently own stock at the $16.20 price level (Point of Control), this level drops by approximately half as the price moves up towards the $17.92 (Yearly) Fibonacci support/resistance level. The volume of of share holders above $17.92 decreases until about $19.57 (Less resistance). Then resistance increases until $21.37, followed by another decrease in resistance until the price hits the next fibonacci support/resistance level at $22.71.
This is followed by decreasing concentrations of volume as the price moves up. For movement up beyond this point the following will be critical.
4.) Workhorse was the 2nd place bidder on A major contract to update the postal delivery vehicle fleet for the United States Postal Service (USPS). Workhorse is offering a 100% electric vehicle fleet.
The 1st place bidder OSK (Oshkosh, Corporation.) was awarded the contract by the outgoing Trump appointed head of the USPS. Oshkosh is only offering 10% of the fleet as electric vehicles and 90% internal combustion engine.
The House of Congress and the Biden Administration may rescind the awarded contract to OSK to meet the requirements of an Executive order that President Biden signed on 25/Jan/2021.
If Workhorse is granted the contract, look for a move up from the $22.71 to $27.49 fibonacci support/resistance levels.
Just my opinion, not advice.
Thank you.
Bear trap on WKHSWKHS recently collapsed on bad news, since then it had traded within a bear flag. The bear flag broke down yesterday, but the move stopped short of the continuation to be expected from the bear Flag. We can see a clear bullish divergence printing. This looks like a bear trap. Buy and Hold WKHS. After a modest reversal occurs, we should reasses the chart and anticipate a lower high to form.
TP:1 $18
TP:2 $21
Workhorse - WKHS - Oooh Noooo - ooooh Yeeesss - Looking Bullish?Workhorse - WKHS - I know you don't want to hear about Workhorse right now. But WKHS is looking Bullish? If the double bottom support holds then this could turn into a 100% gain from $15 to $30 in the recovery. We love 100% potential move because even if it goes 1/4 or 1/2 way it is a nice gain. Patience is key. Otherwise WKHS just needs some strong news.
