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)
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)
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