Microvast beat earnings in May of this year and reported positive earnings for the first time, shocking investors and sending the stock soaring above its previous resistance highlighted by the yellow trendline. As you can see it has been forming bullish consolidation above the trendline which now is seeming to act as support. There is also hidden bullish divergence on the RSI which I've highlighted. Great time to get into a really cheap stock that has much more upside to go should they continue to report positive earnings.
Note
I'm buying the $4.5 call for January 27' for $1.65. You get to control 100 shares of the stock for about a third of the cost of 100 shares, you can't beat it
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.
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.