I've been looking at FUV at around $3 and unfortunately only sold it for double profit (that's $6 for the people who can't do math) and have been quite hesitant in looking to re-enter.
Recently spiked up to an all time high of $36 dollars, and probably would have leveled off at around $32, but with this recent large negative week it took a major hit, dropping to $21.
I would've left it alone seeing as how I didn't want to go in it only for it to continue it's decrease, but just this morning it saw quite a large spike of around $2, so like 10%.
The reason why this is important is because for a descending channel (which is basically what it is, use the purple brackets), the stock needs lower highs, and higher lows.
After the spike, though, the stock instead leveled off slightly higher, which could be a very subtle sign of a reversal. Again, it's still in the brackets so you can't make sure, but this is just my analysis so it doesn't matter; if you want to take the risk and get it for a cheaper price, I'll pray for you.
I thought that the large descending channel was a bit off so I made a smaller one in it, and for the tiny lines in the small spike, that was just me analyzing it on my own.
Anyways best course of action for me right now is either to buy it right now, or wait for it to hit 22-23 before I decide to invest. If you're investing in the stocks, It'd be best to set a stop loss order at $20 in the off chance that it drops to the price of like $16-18 before this spike to the 30s.
Recently spiked up to an all time high of $36 dollars, and probably would have leveled off at around $32, but with this recent large negative week it took a major hit, dropping to $21.
I would've left it alone seeing as how I didn't want to go in it only for it to continue it's decrease, but just this morning it saw quite a large spike of around $2, so like 10%.
The reason why this is important is because for a descending channel (which is basically what it is, use the purple brackets), the stock needs lower highs, and higher lows.
After the spike, though, the stock instead leveled off slightly higher, which could be a very subtle sign of a reversal. Again, it's still in the brackets so you can't make sure, but this is just my analysis so it doesn't matter; if you want to take the risk and get it for a cheaper price, I'll pray for you.
I thought that the large descending channel was a bit off so I made a smaller one in it, and for the tiny lines in the small spike, that was just me analyzing it on my own.
Anyways best course of action for me right now is either to buy it right now, or wait for it to hit 22-23 before I decide to invest. If you're investing in the stocks, It'd be best to set a stop loss order at $20 in the off chance that it drops to the price of like $16-18 before this spike to the 30s.