Long
GEOV a penny stock in the rising EV Sector
As shown on the 1H chart, GOEV printed a head and shoulder pattern June 16 to 19 and then
trended down consistent with that pattern. The trend was supported by the 2nd VWAP line
under the mean in a VWAP anchored at the beginning of the descent. H & S. The volume
volume profile shows that trading volume is distributed widely across a big range of prices
showing high volatility. Price has trended through a round bottom reversal.
I see the likely scenario as price crossing the mean VWAP and ascending toward the
horizontal resistance of the neckline of the H & S. I will take this long trade with a potential
upside of nearly 50 % (0.47 to target of 0.69). As an aside, the EV sector is general is
on the heat map. I have uploaded ideas on FSR NKLA WKHS and PLUG (LCID NIO and TSLA
are of interest.)
trended down consistent with that pattern. The trend was supported by the 2nd VWAP line
under the mean in a VWAP anchored at the beginning of the descent. H & S. The volume
volume profile shows that trading volume is distributed widely across a big range of prices
showing high volatility. Price has trended through a round bottom reversal.
I see the likely scenario as price crossing the mean VWAP and ascending toward the
horizontal resistance of the neckline of the H & S. I will take this long trade with a potential
upside of nearly 50 % (0.47 to target of 0.69). As an aside, the EV sector is general is
on the heat map. I have uploaded ideas on FSR NKLA WKHS and PLUG (LCID NIO and TSLA
are of interest.)
Trade active
Nice 15% pump today riding the EV sector momentum- would love to see moreafter a one-day holiday to let things settle down a little.
Trade active
Another good day riding the coattails of TSLA. Got what I was looking for. Took 1/3 of the position off the table as things progress well. Overall am in the EV sector heavilyand enjoying the price action.
Trade active
Another great day with a 7% return. Another 1/3 of the position closed to leave1/3 to run into next week. Overall EV sector strength is the rising tide lifting all
boats. Using profits to diversity a bit. Looking to take a bigger position in RIVN
once I see an entry in a decent pullback.
Trade closed: target reached
Price popped nearly 50% as part of the general EV rally, Trade closed. Redeployedinto RIVN, and FSR watching for TSLA to complete its pullback for that re-entry.
Once GOEV does a reasonable pullback and has signs of continuation. I will reallocate the full position of 2000 shares
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.