MILE bouncing from all time lowRemember the pay-per-mile auto insurance company Metromile and how it went up after the SPAC merger, to 20usd?
This month MILE had the all time low, $0.85. What a drop!
But for few days it showed a little bit of strength and in a best case scenario it can touch the $3.10 resistance.
Looking forward to read your opinion about it.
Metromile
MILE Metromile price targetWe can see a nice divergence here: increasing volume on decreasing price!
Price tends to follow volume. Be ready for an upside move!
Cantor Fitzgerald has a 7 usd price target for MILe Metromile,
My MILE Price TargetsHello all,
This is definitely not considered technical analysis due to how new the chart is, however, fundamentally I am very BULLISH about the company.
- Their insurance business model is disrupting the traditional static one.
- Metromile is an opportunity to invest in a new way insurance will be priced and sold to a large percentage of the population.
- Personalized per-mile insurance fits better in a world where the growing population are switching to work from home.
- Have already achieved profitable unit economics, no need to raise rates to become more profitable.
- Potential multiple channels of growth.
Metromile is revolutionizing the fragmented $250+ billion U.S. personal auto insurance market with real-time digital auto insurance personalized for low-mileage drivers. About two-thirds of U.S. drivers are considered low-mileage and could be overpaying for auto insurance because they do not pay per mile.
That said, I do believe the price will decline or be stagnant for a while before making a BULLISH ascending chart towards $50.
Short term price target: $25
Long term price target: $75
Good luck to all
💎👐
