VLTA - Can It Go Any Lower? Well, Probably. Here's Why:

NYSE:VLTA has been on a major downtrend since it's recent high in November. Personally, I love Volta as a company and think it's doing great in terms of their product, and also the partnerships/deals they've been getting. But this post is less about fundamentals and more about price action, and what we can expect in the short term from a trading perspective.

Firstly, we saw a pretty solid uptrend since the double bottom a month back.
Then, we saw price hit resistance and then a (weak) bounce on the ascending trendline. Finally, we see the price going under when it broke support a few days back.

As a trader, I would be short biased based on the overall trend of NYSE:VLTA. While it is possible to enter short at the current price, it would be best to enter when price pulls back closer to resistance levels for a better Risk-Reward Ratio. SL and TP levels shown on chart.

Happy trading

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.