Long
Waiting for the buyers
RSI probably needs to be pushed down a little lower yet before buyers step in (~26 region worked in the past). A descending wedge bullish reversal pattern is forming in the price action. I will be watching for a break of the resistance line with heavy volume . I drew a trend line in the RSI that acted as resistance but has now bounced once as support and will test it when RSI drops a bit. I am cautiously bullish on this in the near term based on these technicals, but based on the revolutionary technology, I am bullish long term. There are just too many single occupancy cars on the road and this is would be a very economical second vehicle for many families.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.