Bullish bias: Applying ICT based teachings to stocks. Price action looks very bullish with a few targets nearby. This is not trading advice! Good luck with your trades! :)
I have been asking this question since Spac launch.
So if we take FED new comments on inflation into account, Canoo should be going up now.
the chart said everything and nothing...
I re entered at low price with tight stop loss. Man, this is a tough call...
Canoo has been in descending wedge for the better part of the year.
It has recently broken out of the pattern. Currently forming a pennant which could potentially resolve to the upside.
Remember pennant can resolve to either up or down side. Reason for putting weight on resolving to the upside is because of the improvement in sentiment and positive news...
Forming base inside the descending wedge. Break out from descending wedge could send the stock to $20.
Target 1 - $15
Target 2 - $20
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How to read my charts?
- Matching color trend lines shows the pattern. Sometimes a chart can have multiple patterns. Each pattern will have matching color trend lines.
- The yellow horizontal lines shows support...
1st Long term target: +100% from current prices
have included some resistance points where you can take profit if you want to as well
will post 2nd Long term target when the first is hit
Per fib extension, canoo may have found the bottom.
———————————————————
How to read my charts?
- Matching color trend lines shows the pattern. Sometimes a chart can have multiple patterns. Each pattern will have matching color trend lines.
- The yellow horizontal lines shows support and resistance areas.
- Fib lines also shows support and resistance areas.
-...
Canoo, Inc. manufactures electric vehicles. It designed a modular electric platform purpose-built to deliver maximum vehicle interior space and adaptable to support a wide range of vehicle applications for consumers and businesses. The company was founded in August 2018 and is headquartered in Torrance, CA.
NASDAQ
