Long Term EV ecosystem playBDY and TSLA along with other manufacturers are planning lower priced cars. The stall in growth will reverse when this happens
BATT trade ideas
BATT an ETF for Lithium / Battery Technology LONGBATT here is on a daily chart with a demand /support zone and resistance. supply zone both
drawn in along with a long-term volume profile showing the POC line at the top of the latter
zone. A triple Bollinger Band is overlaid showing price currently two standard deviations
below the mean VWAP which is more or less horizontal with little slope The ZL MACD lines
crossed one week ago and are upgoing about the same time as the 3H RS line bottomed and
reversed while the longer TF 7D RS line stays horizontal just below the 50 level. Overall,
I see that the BATT price will rise targeting the supply zone above which is about 15% upside or
more. I will take a long trade here with the first target the midline of the Bollinger Bands
and the second target the flat top of July 12 through 30, a strong resistance level. This is
a safe trade while the general market gets figured out. This is akin to selling picks and axes at
the Gold Rush of 1849.
Lithium and Battery ETF $BATT has an Head and Shoulders PatternThis is usually a bearish pattern.
The weekly chart shows that it is about to break downwards.
BATT Battery Industry ETFThis ETF buys companies related to the electrical battery industry. Yes the fund is up but we have another 10 years to go
