Bullish Alert : PSNYDaily Chart with a bullish alert together with breakup of the long term downtrend.
Possible bottom at 3.20.
I m waiting for a good price action.
PSNY trade ideas
$PSNY An EV Stock To Watch
Already down nearly 70% YTD, Polestar Automotive Holding UK PLC (NASDAQ: PSNY) announced an average 18.75% cut in its delivery target due to a delay in Polestar 3 startup production. Despite the negative news, PSNY appears to be on the right track financially given its efforts to cut costs in order to boost profitability. With its shareholders voting regarding a significant share buyback on June 28, Polestar stock could be poised to have a major run soon – making it one to watch closely this month.
PSNY Fundamentals
Delivery Cut
Joining other EV manufacturers like Fisker (NASDAQ: FSR) and Lucid (NASDAQ: LCID) in their 2023 cuts, Polestar announced that it cut its 2023 delivery estimates by 12.5% to 25% from 80 thousand deliveries to between 60 thousand and 70 thousand deliveries. Despite this cut in delivery estimates, PSNY is set to grow its deliveries YoY from the record 51.4 thousand it made in 2022 – representing a 16% to 36% increase.
The cut came due to a delay in Polestar 3 production since Volvo needs additional time to complete the software development for the new all-electric platform which is the basis of Polestar’s Polestar 3 software. Additionally, the cut can also be attributed to the tough market conditions the EV market is going through currently, especially since Polestar is not going to enter the price war Tesla (NASDAQ: TSLA) has started in the U.S. and Europe.
That said, Polestar announced that the delay will not affect Polestar 4 production plans and it will start production in Q4 2023 as planned. With the Polestar 3 going into production in early 2024, Polestar is going into 2024 with 2 new models which can lead to an extremely strong 2024 for Polestar stock.
Financials Improvements
On another note, Polestar is trying to improve its financial situation by decreasing operating costs which it has already succeeded in reducing by 13% YoY from $250 million to $217 in Q1 2023. Furthermore, Polestar announced a group wide hiring freeze and a 10% reduction in headcount in 2023, with further reductions in 2024. At the moment, administrative expenses make up the bulk of Polestar’s operating expenses so cutting them can get Polestar closer to profitability.
Potential Share Buyback
It is also worth noting that Polestar has asked its shareholders for approval to buy back 70 million shares which would effectively reduce Polestar’s float to approximately 190 million shares. The buyback, if approved, can increase Polestar stock’s value since more investors would be interested in buying the stock – putting upward pressure on the stock price. With the shareholders’ meeting set for June 28, Polestar stock could witness a run ahead of the vote.
PSNY Financials
In its Q1 2023 report, Polestar’s assets slightly increased by 1% QoQ from $3,942 million to $3,983 million, and its cash and cash equivalents decreased by 10% QoQ from $973 million to $884 million. Polestar’s total liabilities slightly increased by 1% QoQ from $4,076 million to $4,124 million.
Revenue also increased 20% YoY from $452 million to $546 million. Operating costs decreased almost 13% from $250 million to $217 million which contributed to the operating loss decrease of 23% YoY from $258 million to $199 million. In this way, PSNY reported a net loss of $8.9 million – a 96% YoY decline.
Technical Analysis
Polestar stock’s trend is neutral with the stock trading in a sideways channel between $3.23 and $3.45. It is also worth noting that the stock has recently broken into a new channel and is yet to consolidate. Looking at the indicators, the stock is trading above the 200, 50, and 21 MAs which are bullish indications. Meanwhile, the RSI is neutral at 59 and the MACD recently turned bearish.
As for the fundamentals, Polestar’s upcoming shareholders’ meeting is a major catalyst thanks to the vote on the 70 million shares buyback. Given the significance of this catalyst, Polestar stock could witness a strong run ahead of the meeting on June 28.
PSNY Forecast
While Polestar cut its 2023 delivery target by an average of 18.75%, the new target is still 25% more than the company’s record 51,491 deliveries in 2022. Polestar is also working on cutting operating costs by reducing headcount and improving efficiencies to improve its profitability prospects. Meanwhile, the upcoming vote regarding the 70 million share buyback is a major catalyst to watch as the stock could soar if the buyback is approved by shareholders. For these reasons, Polestar stock could be an attractive stock to buy at current levels.
PSNY break out above the Ribbon (Setting up for Mark Up phase)PSNY has been relatively stagnate for a while.... which is good after an emotional dump into a new low. It means its accumulating. This company is undevalued compared to the other electric car companies out there. I wouldn't expect this stock to move a lot up front. However its cheap to do a leap on this til jan 24 and let it do its own thing. Out of all of the electric car stocks this one seems the healthiest financially and is actually delivering 100k of vehicles with goals to out do its self this year.
The indicator is the ESVO it shows where price and volume are in sync and when price breaks out above them its a sign that its hit accumulation and preparing for a mark up phase. The push back down into the ribbon is the last step before it takes off... This should bounce off the ribbon when it comes down and continue to make for new highs until it runs out of steam. This could be days , weeks , months, or even years..... depending on what time frame its doing it in and what part of the bigger move its in. Look at ENPH when it was $50.
by iCantw84it
05.02.23
PSNY Polestar EV Startup Can it Rise from Bottom?PSNY ( Polestar) has dropped to its lows after an earnings report which shown it still has no
cash flow but at least the losses are less than projected by the analysts. On the chart zoomed
out, price is in megaphone pattern which demonstrates increasing volatility. Price is at the
bottom support trendline and one standard deviation below the anchored VWAP. This suggests
15% upside in the immediate short term. Price action is starting to resemble that of Fisker
(FSR) . I see this as a risky swing long trade as price tries to rise to the VWAP and POC line
of the volume profile. ( PSNY is in better shape than NKLA and RIDE but not by a whole lot )
I would be very reluctant to make an investment in Polestar but happy to play the volatility
for profit.
PSNY: DIVERGENCE / CALLS FOR MAY / US TOUR CATALYST / EV GROWTH DESCRIPTION: The following chart is an micro analysis based of technicals & current PSNY US TOUR that can soon prove to be a bullish catalyst for the next big bounce.
POINTS:
1. Deviation between Supply & Demand Pockets remains at 1.50.
2. $3.25 is CRUCIAL SUPPORT THAT MUST HOLD.
3. Break past $4.00 threshold by April 19th is necessary for bullish case to take place.
INDICATORS: In regard to indicators RSI is showing strong divergence on the 4HR Timeframe which has been indicative of a sudden bullish reaction in the past when price action has ben in a consolidating phase. An important level to watch when it comes to MACD would be -0.5 currently MACD is close to crossing over but needs to stay above to further validate play.
SCENARIO #1: In a BULLISH scenario we come to see price action break past the $4.00 threshold by at least April 19th.
SCENARIO #2: In a BEARISH scenario we lose CRUCIAL SUPPORT of $3.25 & see a continuation of bearish price action too $2.50.
FULL CHART LINK: www.tradingview.com
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Long PSNYThe PSNY stock is at a bullish 1.618 fibonacci level along with a confirmed bullish divergence on the weekly chart. My TA is saying that the stock will surge towards the $4 resistance level in no time. All indicators point towards a highly promising upward trend, so I’m going to be bold and put a call out for $4.
This chart based off of The Elliot Wave Theory, Fibonacci, EMA’s, MacD , RSI , Momentum, and resistance/support zones combined with patterns.
PSNY: CHART UPDATE / SUPPLY & DEMAND / SEMI-MICRO ANALYSIS / RSIDESCRIPTION: In the chart above I have provided a SEMI-MICRO ANALYSIS of PSNY. With previous setup being invalidated with continuation of sideways price action and continued consolidation.
POINTS:
1. Deviation of 1.50 points justifies SUPPLY & DEMAND POCKET PLACEMENT.
2. RSI has now officially reached 40 threshold signaling an entry into OVERSOLD TERRITORY.
3. MACD CONTINUES LIMITED BETWEEN 0.14 & -0.14 without major shifts.
4. Despite RSI's drop into oversold territory, MACD continues to hold squeeze momentum.
IMPORTANT: EARNINGS REPORTED ON MARCH 3 & BREAK OF 6.50 WOULD BE FIRST STEP BEFORE FURTHER UPSIDE.
SCENARIO BULLISH: In a bullish scenario it would prove crucial for price action to hold above 5.50 with an eventual break above 7 to move price action into NEW SUPPLY & DEMAND POCKET.
SCENARIO BEARISH: In a bearish scenario price action breaks 5.50 to the downside and we come to continued bearish momentum to $4.
FULL CHART LINK: www.tradingview.com
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PSNY: Polestar has a nice base hereBoth daily and weekly time-frames show a nice bullish trend in the stock, upside seems astronomical vs risk here (stop @ $5.60).
Totally worth a shot if it has legs...
Best of luck!
Cheers,
Ivan Labrie.
PSNY: MACRO ANALYSIS / REVERSAL IMMINENT? / SQUEEZE? (UPDATE)DESCRIPTION: In the chart above I have provided a SEMI-MACRO ANALYSIS of PSNY where I address Current Trend, Supply & Demand, RSI & MACD.
POINTS:
1. DEVIATION stands at 1.50 Points separating given SUPPLY & DEMAND POCKETS.
2. Price Action is finally finding support above the 45 EMA (BLUE LINE) while the 200 EMA (RED LINE) looks ready to go under & CONFIRM BULLISH MOMENTUM.
3. SYMMETRICAL TRIANGLE FORMATION had a BULLISH start further confirming a BULLISH EXIT from trend.
4. RSI median is positioned near 50 similar to previous positioning before rally occurred.
5. MACD volume is staying within 0.18 & -0.18, a flatlined MACD is preferable since it would signify that buying and selling pressure is equal and preparing for a big move.
6. ESTIMATION for potential rally from current floor can be found on the right hand side.
IMPORTANT: PAY CLOSE ATTENTION to VOLUME and just how dramatically dead VOLUME has been since the 27th of JUNE 2022. Can have something to do with how much of PSNY shares are traded in DARK POOLS. This can in fact work out for PSNY since a slight exposure to previous levels of VOLUME can in fact result in a BULLISH REACTION for PRICE ACTION.
SCENARIO #1: In a BULLISH scenario price action would have to break past 7 points to validate setup and give way for price action to continue breathing.
SCENARIO #2: In a BEARISH scenario if price action is to break below 5.50 current setup would be invalidated and give way to further downside or consolidation.
FULL CHART LINK: www.tradingview.com
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PSNY: MACRO ANALYSIS / INTERSECTING CHANNELS / SQUEEZE? (UPDATE)DESCRIPTION: In the chart above I have included an in depth MACRO ANALYSIS of PSNY.
IMPORTANT:
- With late Novembers PRICE ACTION rejection at around 8 POINTS this led me to consider that despite our current uptrend the CEILING of the PREVIOUS DOWNTREND CHANNEL IS STILL VERY MUCH IN PLAY.
- RESISTANCE THAT WAS SEEN AT 8 POINTS WAS EXACTLY WHERE THE INTERSECTION LIES FOR BOTH THE CEILING OF PREVIOUS DOWNTREND CHANNEL AND CURRENT UPTREND CHANNEL.
POINTS:
1. DEVIATION OF 1 POINT PER SUPPLY & DEMAND POCKET. (Gaps between Supply & Demand Pockets is due to lack of STABLE CONSOLIDATION)
2. FUTURE POINTS OF CONTACT were estimated by taking MEAN AVERAGES from PREVIOUS POINTS OF CONTACT.
3. PREDICTED 10 DOLLAR price target by FEBRUARY 14TH was estimated by taking into consideration how much previous rally made price action increase after serious consolidation.
4. IT IS CRUCIAL MACD BEGINS TO STAY CLOSE TO MEDIAN AS IT CAN BE A GREAT PREDICTOR FOR A POTENTIALLY BIG MOVE.
SCENARIO #1: In a bullish scenario price action follows given path or makes more points of contact eventually breaking to the upside from DOWNTREND CHANNEL CEILING.
SCENARIO #2: In a bearish scenario it is important price action does not fall below 5 points this would in fact invalidate entire setup.
FULL CHART LINK: www.tradingview.com
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DGSTACC: PSNY MACRO ANALYSIS!!!In the chart above I have provided a textbook example of what might be unfolding for PSNY.
1. Previously confirmed Supply & Demand channels remain intact.
2. Recent move to the upside can be confirming that a new HIGHER LOW which in turn confirms the floor for current trend.
3. Important for price action to stay above 5.50 to avoid an early retest of lower timeframe.
NASDAQ:PSNY
BearshBullish on PSNY PSNY is more likely to have strong resistance by 200 SMA . and gonna hit 2$ -3$ before the next bull run.
Not financial advice, make your own research.
Polestar Stock – An EV Stock To WatchPolestar (NASDAQ:PSNY) has established its reputation as an EV manufacturer, however its entrance into the EV market via a SPAC earlier this year resulted in a slow decline for PSNY stock. The company’s Q3 results temporarily buoyed the stock thanks to its first profit as a public company and management’s confirmation that it is on track for 50,000 deliveries by EOY. Although Polestar stock is currently downtrending, the stock could have another run up with its Q4 earnings in February 2023. Over the long term, PSNY appears to be a strong contender in the EV space.
Polestar Stock News
In June 2022, the Polestar stock IPO took place valuing the company at $18.6 billion. Given the bearish sentiment surrounding EV SPACs and the overall market environment, PSNY stock has steadily lost value since its IPO. However, in 2023 Polestar’s situation could improve thanks to improving supply chains, the release of the Polestar 4 SUV coupe, and deliveries of its other EV models.
EV manufacturers have been particularly impacted by semiconductor shortages and PSNY is no exception. Polestar was forced to adjust the features of its Pilot Pack for all markets except the US and Canada. PSNY plans to retrofit vehicles missing the hands-free tailgate foot sensor starting the 49th week of 2022. Despite this setback, Polestar has remained largely on track due to its major shareholders Volvo and Geely.
Compared to other EV manufacturers, PSNY was able to ramp up production and maintain its schedule with fewer problems. This is a bullish sign considering that Polestar’s production was negatively impacted by Shanghai lockdowns in 2022 . In fact, Polestar’s biggest obstacle has been shutdowns in China that led the company to cut its expected deliveries for the year. China’s Covid policy will have a smaller impact on Polestar starting next year since production of the Polestar 3 and 4 will take place at Volvo’s facility in South Carolina.
Both Geely and Volvo have committed to increasing EV production on a large scale. Volvo plans to become an all-electric car manufacturer by 2030 while Geely plans to make 50% of all its car sales electric by 2023. Since both companies are major shareholders in PSNY, Polestar will have the opportunity to tap into their resources and supply chain networks as it continues to expand.
So far, PSNY has not been impacted by rising battery costs due to its contract terms with Volvo. However, Polestar has recognized the need to maintain and grow its access to battery cells which is why it plans to develop and manufacture its own in the future. In the meantime, one of its lithium-ion battery suppliers – LG Chem – has signed a MOU with Snow Lake Lithium (LITM) to establish a domestic supply chain of lithium in North America once production begins in 2025.
In the meantime, investors bullish on PSNY stock believe that it will eventually benefit from the favorable landscape for EV manufacturers created by current legislation. According to Polestar’s management, it’s unlikely that its customers will benefit from the Inflation Reduction Act due to their combined yearly income, however other legislation like the Build Back Better Act and laws passed in California banning the sale of gasoline-powered vehicles by 2035 could be long-term catalysts for the stock.
On this note, charging stations are becoming increasingly important as demand for EVs rises. Polestar could attract more customers tired of high gas prices thanks to its partnership with Electrify America which provides 2 years of free charging sessions to new and existing 2021 and 2022 Polestar 2 customers. This and other features make Polestar’s vehicles strong competitors in the EV market.
For example, PSNY launched its latest model – the Polestar 3 – in October 2022 . With an MSRP of $85,000, this model appears competitively priced compared to other high-end EVs and offers features such as an EPA range of 300 miles and the ability to go from 0-60 mph in 4.7 seconds.
Since Polestar is targeting the same audience as the Porsche Taycan, Tesla Model S Plaid, and Lucid Air, it’s important to compare its features with these other high end EV models. In comparison to the Porsche Taycan, the Polestar 3 has a lower MSRP and better mileage. Although the Taycan goes from 0-60 mph almost 1 second faster than the Polestar, it appears to be a competitive option. On the other hand, the Tesla Model S Plaid is roughly $49,190 more in terms of MSRP but offers an EPA range of 348 miles and goes from 0 to 60 mph in only 2 seconds. The Lucid Air is also significantly more expensive than the Polestar 3 with an MSRP of $139,000 and EPA range of 469 miles. With time, Polestar may expand its lineup, offering additional features which would increase the MSRP. But for now, the Polestar 3 is a less expensive but still high-end EV model.
Another advantage PSNY offers is its industry experience. Other EV manufacturers like LCID and RIVN have announced mass recalls as they start getting production off the ground. Unlike other EV startups, PSNY spent years producing cars with Volvo and has had only 2 recalls so far.
Looking to the future, investors will be watching how well Polestar’s vehicles compete against manufacturers like Tesla. It appears that PSNY is positioning itself for growth in the autonomous vehicle market as well as for future modifications to its vehicles thanks to the software-defined architecture of the NVIDIA DRIVE platform. This chip is installed in the Polestar 3 and will help the company make over-the-air updates to its vehicles.
However, PSNY could face stiff competition from traditional OEMs like Ford Motor and General Motors which are targeting the EV market with their considerable spending power. Merrill Lynch’s “Car Wars” study shared its prediction that Ford Motor and General Motors will squash Tesla’s market share by 2025.
Even with the backing of Geely and Volvo, Polestar is no competition for these massive companies. Instead, PSNY may find its niche as a high-end EV manufacturer. Although several companies are competing for market share in this space, those with weak fundamentals could fall to the wayside as inflationary pressures continue to affect demand and prices.
PSNY Stock Financials
Although PSNY slightly beat Q3 EPS estimates, the company missed revenue expectations. Luckily, PSNY surprised analysts with $4 million in gross profits. Thanks to shareholder financing and $988 million cash balance, Polestar believes that it has the cash runway for maintaining operations in 2023.
As is, Polestar is working towards ending 2022 with $2.4 billion in revenue. So far, PSNY has increased its gross profit from $1 million during the nine-month period of 2021 to $57 million for the same period in 2022. The total cash used for operating activities over this nine-month period totaled $1.02 billion, partly due to a $372 million one-time listing charge. Additionally, PSNY’s research and development expenses over the nine months of 2021 dropped 21% from $157 million to only $123 million this year.
Technical Analysis
The PSNY stock price is currently $4.77 after Polestar stock fell 41% following its earnings run up. Prior to its positive earnings report, PSNY stock was trading in a channel between its support at $4.11 and $4.68 resistance. The stock broke through and touched $8.23 on its earnings report – a roughly 98% run.
As is, PSNY stock is testing its support at $4.68 – partially filling an earlier gap up – and could drop down to $4.11 or lower with potential insider selling. Since the share lock up agreement has only recently expired, there is a chance that insider selling will push PSNY stock price down. However, for investors bullish on PSNY stock this could offer a low entry price ahead of the catalysts in store for PSNY in 2023.
Looking at the indicators, the RSI has recently rebounded from oversold and is holding at 46. The MACD is currently bullish to the downside and accumulation continues to decrease following the Q3 earnings report. Strong consolidation could signal the end of the downtrend and offer a possible entry point for investors looking to take a starter position.
However, its worth noting that PSNY has only recently become a publicly reporting company and will need to prove its value to shareholders over the coming quarters. If it is able to show continued progress in 2023, that could trigger a rebound for PSNY stock. The most recent analyst price target for Polestar stock comes from Itay Michaeli from Citigroup who gave it a buy rating in November with a $12 price target.
Polestar Stock Forecast
Considering the improving supply chain system, easing Covid restrictions in China, and rising demand for EVs globally, the Polestar stock forecast for 2023 appears positive. Polestar has performed well in terms of production and orders despite many headwinds this year. If the company was able to overcome these hurdles, then it may be able to accomplish even more in 2023 as conditions affecting its production improve.
Right now, PSNY is working double time to meet orders and Q4 is expected to meet expectations. In addition to new orders in 2023, Polestar will be producing 65,000 cars for Hertz and Uber over the next five years. Securing such a large order from these companies demonstrates the potential many see in Polestar moving forward.
While demand may not be an issue at the moment, one risk to the Polestar stock forecast is consumer spending. Fears of a recession and inflationary pressures have affected consumer spending and could impact demand for Polestar’s models. As is, PSNY’s target audience is less likely to change its spending habits, however, if Polestar’s orders appear to decline in the coming quarters this could be an issue for PSNY stock.
Setting this aside, PSNY is on track to release the Polestar 2 all-electric fastback in 2023 as well as the Polestar 4. The company has reiterated its plans for three product launches over the next three years and has set an ambitious goal for 290 thousand EV sales by 2025. These goals present significant upside potential for PSNY stock which has given up much of the ground it gained from its Q3 earnings. The share lockup period for PSNY stock is set to end in December and insider selling could push the PSNY stock price down further – offering a better entry price for investors bullish on PSNY stock.
DGSTACC: PSNY UPDATE CHANNELS / RESISTANCE & SUPPORTIn the chart above I have provided an update for my previously published idea that was a lot more bullish on PSNY.
1. $4.60 to $4.80 gap has been filled.
2. Price action should be squeezed between bottom trend line and supply pocket at $5.00.
3. Crucial for us to get on top of $5.50 to get on a more steady trend.
4. STAY ALERT FOR 50K CARS DELIVERED BY END OF YEAR FOR POLESTAR. NASDAQ:PSNY
$PSNY Supply & DemandIn the chart I have done my own analysis for where I believe $PSNY can fall into or climb into a new supply and demand pocket.
Recap of my QuickTrade Idea n. 201The price hit my entry level and moved lower.
Max DD, 0%
Maximum return : 13%
QuickTrade, Idea 201 : PSNYBullish above 8.26 with the break of a great resistance.
Bearish below 7.8 with test on the 21h
PSNY Polestar Automotive Holding Options Ahead of EarningsLooking at the PSNY Polestar Automotive Holding options chain, i would buy the $5 strike price Calls with
2022-11-18 expiration date for about
$0.23 premium.
If the options turn out to be profitable Before the earnings release, i would sell at least 50%.
Looking forward to read your opinion about it.
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PSNY Took 5% but is there more?I made this below comment on GGPI yesterday so I decided to carry it over here since GGPI is no longer a ticker.
For my personal outlook on this stock, I am looking to capture at least a 5% trade on this tomorrow. I have marked where my personal thoughts are on support and where I would like to enter if the right volume shows up and technicals line up as well. If momentum follows tomorrow I will do a larger entry with plans to scale back every 5-10% move up. (Not financial advice)
GGPI announced that they deal to merge with Polestar has been approved as of EOD today. Deal expected to close Thursday June 23rd with Polestar officially trading on the public market under the ticker PSNY on Friday.
Today it opened above my original 11.75 mark and hit the high of 13.36 before selling off to as low as 10.41. After I saw the first leg up over VWAP at 11:30 PST on the 5min candle, I decided to monitor the stock going into power hour for an opportunity to trade. From there it did a slight cup curve with a MACD cross at 12:45pm which is where I captured my 5% move up from $12.00 - $12.61. I closed my position the moment I achieved my 5% since it was the weekend and I usually do not hold over weekends.
The moment the bell went off for the close of market it pulled back down to $11.77. Since then it has continued to slow go back up again. I will keep this on watch for next Monday. I am thinking I will be looking for it to hit the Highs of 13.50 before considering this trade again.
NOT FINANCIAL ADVICE
