An Investor buddy asked me to look at a few EV stocks.
I will provide the tickers only, as really, does the name actually matter?
Let’s take a look at that list.
NIO
NIO is below a declining 50- and 200- DMA, which tells me to stay away from it.
NIO appears to be in a Stage 4 decline with a further downside.
BLNK
BLNK is making new lows below a declining 50- and 200- DMA and which tells me to stay away from it.
BLNK appears to be in a Stage 4 decline with a further downside.
CBAT
CBAT is below the 200 Week Moving Average and has been horrible for some time. It is approaching previous supply, which could be the end of the Stage 4 decline.
LYFT
LYFT is also below a declining 50- and 200 DMA, which indicates to an investor, stay away from it.
The light blue VWAP indicates the Volume-Weighted Average Price (VWAP) from the IPO.
Notice how the price is below that line meaning that the average share purchased since the IPO is losing money.
SOLO
SOLO is also below the declining 50- and 200- DMA, which tells an investor to stay away.
The price is currently in an area of previous supply, so perhaps the price will trade within the grey rectangle for a while.
FUV
FUV is below a declining 50- and 200- DMA and making new lows.
The price is currently in an area of previous supply, so perhaps the price will trade within the grey rectangle for a while.