$CBAT - Very near to a few support areas (Read below)1. Long Trendline support.
2. MA50 - 6.70$
3. Horizontal range - 6.3-6.6
Not recommended to buy or sell CBAT stocks.
CBAT trade ideas
Buy at the bottom of trianglesCBAK is a leading lithium-ion battery manufacturer and electric energy solution provider that became the first lithium battery manufacturer in China to be listed on the Nasdaq Stock Market in 2006.
It is in a tailwind industry with several positive partnerships.
en.prnasia.com
en.prnasia.com
en.prnasia.com
CBAK has also recently closed a $70m offering in Feb 10 so it's unlikely to see another offering soon.
The technicals are looking good with several visible triangles, expecting it breakout on the upside. The company also seems to have fairly good potential overall. If it can also break the November high then we could be seeing a massive run to $15~18.
CBAT Ascending Triangle?There appears to be an Ascending Triangle that has formed and is keeping within the range as it tightens up toward the end. I'm not genius, but, I figure everyone already saw this anyways! Me being the genius that I am knew to buy along the ascending trend line, but actually bought at the point of resistance as a result of fear. Despite the fact that I used this as an example setup for a friend, I have to work on my psychology.
CBAT few Resistances aheadUsing an old chart and I zoom in to see what's up:
1. a beginning of a break out (in theory only), but be carful of 7.27
2. I would watch out 8.70 and 9.50, and the cloud area is the MOON for now
given the fact that EVs are not that hot anymore, in my opinion, just for now, I don't expect a huge breakout. Of course, I do HOPE so!
CBATCBAT has come up on earnings but unable to find data. Was looking for a sympathy run with EV earning in china. Their news hasnt been great lately and they just offered shres but this could retest the mid to upper channel and it is forming a bit of a wedge.
MC 643M
Float 33M
Vol 5M
Short 16%
YOY revenue is increasing
Seems like only a small portion of EV batteries though
Not looking at this for a long play short term
CBATCBAK Energy Technology Inc. The paper is at the stage of finishing the formation of the pattern, which gives 3 growth targets - $ 12.16 and $ 18. In total, an increase of 146% is expected. Given the very high IV = 176%, I plan to trade this trade with a synthetic long, as well as selling puts at 50 delta to make money even when the paper is in place.
