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Electric Vehicle Frenzy. Is XL the Next Breakout?!?XL is an EV play that I have been watching for the past couple of weeks. Recent news: 6 days ago they released news on a partnership to develop all-electric and plug-in hybrid refuse trucks with Curbtender. They also were initiated with Buy rating and $30 PT at Canaccord and BTIG. This news gave XL some momentum and we gapped up 8% and tried to break out of the Daily channel. XL sold off hard and gap filled but found a bottom at $20.12 area and has started to bounce. Today we retested the Daily trend line but failed to close above. EV stocks are hot right now (check out NIO and BLNK). XL looked to have the same momentum this morning but failed to hold the gains. Volume: on the 4h chart we can see a stepwise increase in volume as we found support around $20 lvl. Today’s volume may have just been a sympathy play based on the overall EV market but keep an eye on how XL behaves the rest of this week. I am going to be watching to see if we can breakout of this Daily channel. This would set up a retest of $25. The main thing missing from XL is volume. Ideally we want to see >12M in volume. SMA’s: We have the Daily 20 SMA serving as support at the $20.18 lvl and on the 4h chart we are sitting right above the 50 & 20 SMA’s which should help hold the $20 lvl. Plan: I am currently swinging shares at $20.41 avg which I will hold with a stop loss under $18.30. If XL fails to gain momentum and breakout I will be looking for another leg down to the $18.70 area where we had the triple-bottom. If these lvls can hold I will add more shares. If volume and momentum continue into tomorrow and we can break out of the wedge pattern then I will be adding 2/19 22.5 and 3/19 22.5 calls for swings. **I will be keeping an eye on NIO NYSE:NIO /BLNK NASDAQ:BLNK to monitor EV momentum. I am currently in NIO calls as of this morning with the massive breakout. Hopefully, this can continue into tomorrow for XL. About XL: XL Fleet Corp., formerly Pivotal Investment Corporation II is a provider of vehicle electrification solutions for commercial and municipal fleets. The Company offers electric drive systems that enhances fuel economy up to 25-50% and reduce carbon dioxide emissions up to 20-33%, while enhancing fleet operations. The Company offers XLP plug-in hybrid electric and XLH hybrid electric upfit solutions. Its hybrid solutions can be installed onto many of the gasoline and diesel fleet vehicles, including pickup trucks, cargo and passenger vans, commercial vans and shuttles, box trucks and delivery vans. The Company offers its solutions for Ford, Chevrolet, GMC and Isuzu customers.
XLong
by DOpeTrades
3
Innoviz/CGRO Merger Play --> Will History Repeat Itself?!CGRO is expected to complete its merger with Innoviz (INVZ) technologies in the first quarter of 2021. If that timetable is to be believed then we are only looking at 1-4 month timeframe for the merger to occur. Innoviz is a lidar sensor play - think VLDR and LAZR . After analyzing VLDR/LAZR who are the well known tickers in this sector it looks like Innoviz could have a similar rally as the merger gets closer. Semi-recent news is that INVZ has partnered with Macnica (japan's largest distribution company) to sell its InnovizOne for the first time in Japan. InnovizOne has also been selected by BMW for its use in its fully autonomous electric car. Innoviz has some solid investors that interest me. They are backed by Softbank Ventures Asia and auto supplier Magna international. Magna international is one of the world's largest suppliers in the automotive industry and is the largest auto parts manufacturer in North America. So, seeing them invest millions into Innoviz is something to keep an eye on in the North American sector. Chart : What has drawn me to CGRO's chart is the 32% sell off over the past 44 days which may be finding a bottom at the $13 range. It held the Daily 50 SMA beautifully for 6 days straight which piqued my interest as well. - HVN: there is a HVN between $13-14 and we saw a fail of this lvl on 1/25-1/29 but then we regained the $13 lvl which was key. The POC is at $13.78 which will serve as a strong resistance. If we can close over the POC then I am really bullish on the trade. -Volume: there isn’t much special about the volume CGRO has seen the past 43 days as it has been mostly bearish with its sell off. - Important to note the bullish price action this past week vs the declining volume, might be signaling another leg down unless $ steps in this week. - 1/25 & 1/26 we saw 1.1 and 1.5 million volume with bearish candles both days. It looks to me like a failed bounce and subsequent gap down. Since these two days there has only been one larger volume day on 2/2 of 1.1 million. We had some bulls come into CGRO that day and try to reclaim the daily 20 SMA but were unable to close above. - MACD: CGRO’s MACD on Daily chart looks primed for a reversal, VLDR Daily chart also saw very similar MACD & RSI patterns before its merger rally Merger : - VLDR ran 148% the month leading up to its merger while LAZR hit 80% gains a few days before its merger and 150% gains the 4 days prior to its merger - I am by no means saying this is going to happen to Innoviz. If anything this shows that the lidar market is becoming saturated with companies going public. LAZR by comparison has a market cap of 10.8 billion and VLDR of 3.92 billion. The merger results in Innoviz with an estimated $1.4 billion equity value. - I am looking at these comparisons and think there may be a possibility here for a INVZ run up into its merger. The tricky thing about this play is timing. Plan: I am currently in a small starter position of CGRO at $13.37 and this week I will be looking to continue to add shares. Once we get some momentum I am also looking to add some March or April calls. 1. If CGRO continues to see no bullish volume I think we retest the triangle bottom trend line and might even see the $11.60-12 range where the other HVN is located (lower blue square on chart). If this is the case I will watch for a bounce at this HVN and/or the 100 SMA. 2. I want to see CGRO hold its $13-$14 HVN range and close over the 20 SMA on the daily chart. With such a long consolidation and merger news imminent I am adding a starter position and then waiting on volume accumulation to add a larger position. SL: If we fail the triangle pattern and look to be heading to the 11.60-12 range then that is a good opportunity to take the loss and re-enter lower. I have a smaller position so I am comfortable holding my shares through this breakdown if it occurs. I will more than likely avg down if these levels are seen. ***Downside: - Other Lidar plays that have SPAC’s supposedly merging in the first quarter are Ouster ( CLA ) and Aeva ( IPV ). The Lidar market will quickly have multiple companies joining via SPAC’s in the first half of 2021. This saturation can make it tricky for just one company to run. This writeup focuses on INVZ but a diversification of 2 or more of these Lidar plays may be more risk averse. Thanks for reading my write-up if you made it this far! would love to hear your thoughts on this play/sector. Give me a like and follow on TV for future trade ideas.
VLong
by DOpeTrades
QS potential buy opportunity The daily chart shows the price action moving between the 25smma and the 50smma. The 50smma should act as support, the logic behind this trade is to enter at the 50smma and look for a break out, or at least a good entry since sideways movement could also be expected. Keep in mind that this is a very speculative, scientific driven investment involving complex physics like solid fluid states of matter and the use of these materials to drive technology forward. This company though it just had a major breakthrough it still may be many years from real production. Another case for a guy is an acquisition but a large automaker. With that being said on close examination of the ev market, many tickets are exhibiting signals for a potential breakout. This may mean the entire market may be ready to rally as its predicted that has power cars will become a liability rather than an asset for automakers. Singh says that QuantumScape’s battery is the kind of step change in performance that will push EVs into the mainstream. He’s not the only one who thinks so. The company counts Bill Gates and Vinod Khosla among its investors, and several battery barons, such as Tesla cofounder J. B. Straubel, sit on its board of directors.
NYSE:QSLong
by Yoimdop3
Hyliion Holdings is back After falling since September last year, it seems to have reached a bottom in January, starting a recovery. I visualize 3 possible targets in different time frames: $ 24-25, $ 30, and $ 40. Its main institutional holders include Bank of America, Morgan Stanley, Wells Fargo and Goldman Sachs, mmm. Its on-balance volume seems to have reached a support level in December, now they are injecting capital into it, sooner or later this will be reflected in the price. NYSE:HYLN
NYSE:HYLNLong
by amateur_trad3r
1
Bull case for NIO using EWP Since the start of November of 2020 NIO has traded in an uptrend as pointed out by other traders interested in NIO. More recently it has been moving in a descending wedge pattern as it trades to the lower range of its uptrend to find support. On the daily chart, NIO is also finding support on the 25 day SMMA (and support on the 50 day SMMA on the 4hr) this seems to be converging with the lower support of the uptrend,an imminent MACD buy signal and the plotting of the EWP. The convergences of which may be a strong buy signal.
NYSE:NIOLong
by Yoimdop3
4
Fisker is waiting for a big move Close to the oversold point in the stochastic. MACD below 0 with reversal signals (bullish). 35% below its all-time high in November. Since December it has fluctuated between 61.8% and 50% of the Fibo. Its 55 EMA is flat (it can't hold like this for long). It may be preparing to start a trend. It has resistance at $18 and $21 ($20 can be a good target). It has future potential. "Fisker Inc. is an electric vehicle manufacturer founded by Henrik Fisker, launched in 2016 and based in California. Fisker Inc. is a relaunch of the Fisker brand, which previously manufactured the Fisker Karma under Fisker Automotive (founded in 2007). In addition to designing and developing electric vehicles, Fisker Inc. has registered patents for solid-state batteries for use in automobiles, consumer electronics, and other industries." NYSE:FSR
FLong
by amateur_trad3r
2
LI AUTO, Oversold at support & Bullish EngulfingAfter fibo 61.8% retrace LI tested the upper side of the ascending channel and retrecaed back to fibo 50%. This area is acting as an important support and yesterday' formed a Bullish engulfing candle. If we close in green today the engulfing will vallidate and it will either test the next fibo at $40 or the upper channel. If it cant break that expect a correction back to 38.2% or $35 area. Put your stop below yesterday's wick just in case.
NASDAQ:LILong
by Kryptolinks
Workhorse - finished accumulation, is the stock headed to 30$ ?Workhorse is one of our favorite EV stocks, one of the reasons for that is because it's been around for a while (started in 2007) and they are not just dealing with EV and EV batteries but also with Drone technology. Drone technology is expected to grow its use widely in the USA and following the announcement of the FAA that drones need to remotely identify themselves while in flight 2 weeks ago, made us the investors understand drones are getting into the mainstream technology space. It's worth mentioning here that Boeing (BA) got several contracts from the US Army to build advanced drones with minimum human supervision and a high level of AI and automation that will make drones the perfect tool for espionage and other covert missions. One last thing to mention on WKHS is their big contracts for delivery trucks with united states post office service (USPS) which we were a bit hesitant about till a few weeks ago when they announced it is going as planned. Let’s talk about the important part – Technical: So, this is pretty easy to understand – WKHS has been trading sideways from the beginning of December from 20$ to 23$. The stock broke resistance level on Jan 5th and the 23$ line is now our new support level, although it needs to be tested again. After the rally stock went down back to the 23$ line and now we are facing two possibilities : 1. Stock breaks through 27$ line and starts accumulating there and then touch 30$ 2. Stock drops to the 20$ line and from there we will see a sideways trend for several weeks to months. If we see the second option happening this will be a great time to do more ‘dollar cost averaging’ and buy the stock at a low price. We do not have a doubt that WKHS is crossing the 50$ line before the end of 2021 – I believe way before… One main thing we need to watch is the volume of the stock: avg volume last 3 months is: 14.7M avg volume last 1 month is: 17.5M avg volume last week is: 9M We can see a decrease in volume meaning a lower sentiment (“Buzz”) around the stock. But I will use a quote here directly from InsiderMonkey: “WKHS has seen an increase in hedge fund interest lately. Workhorse Group, Inc. (NASDAQ: WKHS) was in 13 hedge funds’ portfolios at the end of the third quarter of 2020. The all-time high for this statistic is 10. This means the bullish number of hedge fund positions in this stock currently sits at its all-time high.” This is big news for the stock and it means we are looking at an accumulation stage before a mark-up phase which will cause the stock to rally up again!!! We are long on the stock and we will keep buying more in our portfolio. Trade safe and be safe!! FDGT Academy.
NASDAQ:WKHSLong
by FDGT_academy
2