$FREY well defined setup

NYSE:FREY   FREYR Battery, Inc.
Discovered this trade looking through option data. The stock is nearby a lower trendline dating back to May of last year. Support is just below, ~6.7%. That would be the stop loss. The first target would be the upper trendline ,about 15% higher. That is a decent risk/reward ratio. Of course buying closer to ~6.10 would be even better. There is a 116 million share float, with 11.4% short. Personally, I think the short float could propel the stock above the upper trend line, maybe even up to ~9.80.
Do your own due dilligence.


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