Short
SOLO a top gainer, rising +219.16%. Expect Uptrend reversal
Electrameccanica Vehicles (SOLO, $3.16) was one of top quarterly gainers, jumping +219.16% to $3.16 per share. Tickeron A.I.dvisor analyzed 16 stocks in the Motor Vehicles Industry over the last three months, and discovered that 15 of them (93.33%) charted an Uptrend while 1 of them (6.67%) trended down. Tickeron A.I.dvisor found 93 similar cases when SOLO's price went up 15% within three months. In 93 out of those 93 cases, SOLO's price went down during the following month. Based on these historical data, Tickeron A.I. thinks the odds of an Uptrend reversal for SOLO are 90%.
Current price $3.26 is above $2.57 the highest resistance line found by Tickeron A.I. Throughout the month of 06/30/20 - 08/02/20, the price experienced a +40% Uptrend. During the week of 07/26/20 - 08/02/20, the stock enjoyed a +3% Uptrend growth.
The Moving Average Convergence Divergence (MACD) crossed below the signal line. Tickeron AI shows that in 19 of 22 cases where SOLO's MACD histogram became negative, the price fell further within the following month. The odds of a continued Downtrend are 86%.
The higher Bollinger Band was broken -- a price fall is expected as the ticker heads toward the middle band, which invites the trader to consider selling or shorting the ticker, or exploring put options. Tickeron AI shows that in 12 of 14 cases where SOLO's price broke its higher Bollinger Band, its price dropped further during the following month. The odds of a continued Downtrend are 86%.
Current price $3.26 is above $2.57 the highest resistance line found by Tickeron A.I. Throughout the month of 06/30/20 - 08/02/20, the price experienced a +40% Uptrend. During the week of 07/26/20 - 08/02/20, the stock enjoyed a +3% Uptrend growth.
The Moving Average Convergence Divergence (MACD) crossed below the signal line. Tickeron AI shows that in 19 of 22 cases where SOLO's MACD histogram became negative, the price fell further within the following month. The odds of a continued Downtrend are 86%.
The higher Bollinger Band was broken -- a price fall is expected as the ticker heads toward the middle band, which invites the trader to consider selling or shorting the ticker, or exploring put options. Tickeron AI shows that in 12 of 14 cases where SOLO's price broke its higher Bollinger Band, its price dropped further during the following month. The odds of a continued Downtrend are 86%.
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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.