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Electrameccanica

SOLO Looking to Boom? (> 86% Potential Profits)Hello fellow traders, Today we are looking at the daily time frame for Electra Meccanica (SOLO) on the NASDAQ. As we cab see on the chart, prices rallied almost 500% to peak at around $6.00. Since then, as expected, there has been a massive correction back down to the $2.34 level. The chart has printed a bullish falling wedge pattern. We now see that a double bottom has played out and prices have bounced off of several EMAs. We have prices trading above all EMAs, RSI above 50, and the MACD giving a bullish cross and moving up. These are all bullish. We can also see that there is some resistance here around $3.74 (0.382 Fib level), but this is expected at each Fib level, and I believe this is just further consolidation before the jump. It is difficult to give an entry range right now, as we need to see where prices move from here first. As you can see, I have split my entries at $2.71, $3.00, and $3.29 (green lines), but I am looking to increase my position if prices continue moving upward. Potential short-mid-term targets are at $4.58 (+24%) and $6.00 (+62%). A longer-term target at the 1.0 Fib level would be at $6.77 (+86%). If the high is broken, however, prices could move up to the 1.618 Fib level around $8.30 (+125%). Keep your eyes on this one, as it could be a huge opportunity for a long position. Let me know your own thoughts and comments down below. Remember to like the post if you enjoyed and check out my profile for more stock and cryptocurrency trading ideas. Price at writing: $3.62
SLong
by PS_TopDollarInvestments
2
3rd Time's A Charm For SOLO? NIO Upgrade SympathyLast time we saw SOLO push this hard to the upside was during the first big run in the summer. No news today, obvious speculation on when they'll announce the final facility location. But they have planned that for November based on the last PR. Anyway, great momo today on sympathy from NIO's big upgrade and $40 price target. I also don't see many other EV penny stocks aside from SOLO and maybe AYRO that have some beefiness to them. The few remaining are relatively baseless and just have an idea in my opinion. We'll have to see if this $3.20 resistance continues acting as such. Also worth noting that the current 50 DMA sits at $3.16, another potential point of focus. "While it’s still early in the game, SOLO stock has built a cult-like following over the last few months. Shares were trading around $1.36 when we first began covering the company in June. Seeing how far it’s come shows the high expectations of the market right now in my opinion. It’s also worth mentioning that SOLO stock also traded as high as $6 during the early stages of this bull run in 2020." Original Quote Source: Looking For Hot Auto & EV Penny Stocks To Buy Today? 3 To Know
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by PennyStocks101
SOLO, Fibs, Where Do We Go?The SOLO IR news, imo didn't have much to do with this. There's already a following and unless they were looking for true institutional investors, the retail momo is definitely alive and well. They just raised $20 mil so is there dilution risk? maybe. But after the drop did the market price in some things? Good question. I think the EV juices are flowing thanks to NKLA and the potential IPO of Lucid.. not to be confused with This (former) Lucid . Gonna come down to execution now. "The company announced that it narrowed its list to for its new U.S. home to Arizona, Colorado, Florida, North Carolina, and Tennessee. Following this, ElectraMeccanica announced the accelerated expansion of its retail footprint for its flagship SOLO EV with new locations planned for Arizona and Oregon. It’s also worth mentioning that the company was also able to raise some $20 million to help efforts." Quote Source & Info: Can You Make Money With Penny Stocks? 3 Up Big In June
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by PennyStocks101