3 Technical playEnergy theme this week, bounced off 20 ema and respected the 2021 ascending support. Closed bullish right at the the top end of the wedge. Breakout underway
CBAT trade ideas
CBAT EV PLAY.. BULLISH WEDGEBased on the recent trend, CBAT is looking to break out of this wedge. Target is $10, though I have noted the shorter term Fib. with the dotted lines. Although, this evening I did notice large put volume at near the close of the day. Will need to dig into that more. Currently holding Feb. 7.50 Call.
www.barchart.com
BUY CBAT - CBAK ENERGY TECHNOLOGY - STRONG BUY ON WEEKLY CHARTBUY CBAT - CBAK ENERGY TECHNOLOGY - STRONG BUY ON WEEKLY CHART
CBAT: looking for it to double, with patiencePls see chart. Targets are orange boxes. Too ambitious?...
100% +Possible move:100%+
Reward/Risk: >10 (R/R>3 is Ideal)
Time frame: 1-4 wks
This is just my technical view, not a fundamental comment..!
I can make you confused you by a crowded messy chart, but I would rather simple effective presentations..!
CBAT China battery company. Lets use our imagination.Yeah it is up a lot today but...Maybe we could be looking at this type of growth.
CBATPrice projection of a massive down trend due to gap ups not filling prior. price projection a short position would be @ 2.41
CBATMID-TERM: 4hr falling wedge with local divergence and daily hidden bullish divergence. This one is at a make or break area, right at a horizontal support/resistance, I would heavily recommend placing a stop loss on this trade as there is a gap to the downside if it doesn't bounce here. Thus, as long as you can commit to a stop loss, the reward to risk is fine. (Not financial advice)
$CBAT long trade idea that could double in valueCBAK Technology has the potential to make more than a 100% return by the end of January based on Elliot Wave Analysis, Fibonacci ratios, and Fibonacci time. The stock is currently nearing oversold or oversold on the RSI and Stochastic.
Can it hit 9.5?Good volume recently and a bull pull back. It looks like it wants to go up again. SL 5.9.
CBAT going to 13 Resistance 8.50SO as we can see this would be the 4th wave that just started yesterday before closing bell. It should be getting bigger than the 3rd. hence CBAT should attain an ATH of 13. this is of course only in theory.
Watch for 8.50 though.
I brought in under 5 $ before yesterday, after a long period of waiting and expecting it to double. I am grateful to whoever heavily brought in last evening; Probably some computers , lol
CBAT - reversal confirmed. Sitting on next support level+ Reversal confirmed
+ $QS sympathy play
+ $35B of stimulus package earmarked for clean energy
+ closed the session with big bullish price action above the resistance
32% gain potential Possible move:32%
Reward/Risk: 5.44(R/R>3 is Ideal)
Time frame: 1-4wks
This is just my technical view, not a fundamental comment..!
I can make you confused you by a crowded messy chart, but I would rather simple effective presentations..!
