jUiCE_Trades

Can GOEV run like NIO?

Long
NASDAQ:GOEV   Canoo Inc
GOEV is an EV company and has strong backing with Hyundai. In there investor day presentation they mentioned a push for a fully autonomous vehicle and a subscription model that is different from the traditional car buying. “Innovation that excites”… Still a highly speculative stock but the technical aspect looks primed for another run. Watching this for a bounce off the bottom support line of the triangle and a break out (with significant volume , 1/3 of avg vol is low and could be a false breakout) of the triangle to begin its push back to ATH .

Key Levels
Resistance: 16.67, 17.21, 18, 18.89, 19.96, 20.44
Support: 15.68, 14.51, 13.51, 12.09

Ways to play this
1. As always safest way is to load shares
2. Scale in couple month out calls as its near support (catching the dip before confirmed reversal)
3. Wait for the breakout of the triangle to scale in long term calls (sacrifice profit for confirmed reversal)

*TIP: draw trendlines and set an alert to catch the breakout and enter (one on the falling wedge (15m) and the overall triangle resistance (1/4hr)

Option Ideas:
20C 5/21 2.35 (low risk: high reward)
25C 5/21 1.55 (medium risk: high reward)
20C 3/19 1.00 (low risk: high reward)
20C 2/19 .15 (lotto)

Comments

Do you trade your options based on a scanner?
+1 Reply
jUiCE_Trades davidro100
@davidro100, yes I usually use my scanner to find top movers and would add them to my WL and wait for them to consolidate if they already had a parabolic move. But I also trade options on my favorite large cap stocks as well depending on the liquidity of the options.
Reply
very much appreciated!!
+1 Reply
@guushv, anytime
Reply
mredude jUiCE_Trades
@jUiCE_Trades, this was on my radar, like the lottos, its picking up momementum! thanks!
+1 Reply
@mredude, thank you I'm expecting a big move and with money transitioning out of weed stocks it might be time for energy and ev stocks to run again
Reply
Chartguru1 jUiCE_Trades
@jUiCE_Trades, LAZR , GOEV my main horses in ev space. Nice chart
+1 Reply
jUiCE_Trades Chartguru1
@Chartguru1, Yes, fairly new positions to my portfolio and Its only a matter of time before these things take off! Thanks
Reply
otaborda jUiCE_Trades
@jUiCE_Trades, I'm in weed stocks and just recently bought in GOEV when my $16.18 buy order hit... I don't see people getting out of weed personally... we just started after being from a spec to emerging sector... anyway, everyone should diversify and play other emerging sector too. GL !
Reply
Thanks
+1 Reply