The previous C&H did not play out and handle broke down. The price has reached to the bottom of the rectangle where it has bounced off 5 times before. Market don't like pre revenue companies currently.
So there is no telling if this support can hold.
Can we bounce from the support? Who knows.
If the support holds, we could see it revisiting upper trend line...
Trendline support, has a sun up 7% a couple of days ago, then a dump. However, the MACD is still on the bullish side, and we should see a bounce if it holds this level.
Hello Price Action Traders! GOEV just made a another retest in this strong support level. What we will be waiting is the appearance of a strong bullish candle before we enter a position (e.g. Engulfing candle, Inside bar candle, etc.)
This will be a nice bounce in the upside after the appearance of a strong bullish candle
P.S. As price action trader I'm not...
Price Action is in an upward trend confirmed w/ Linear Channel.
Price action is above the 200 EMA (LONG)
Healthy Pullback Retracement to a solid support in a buy zone area. I recommend buying on break of the black line which is resistance.
Please provide any feedback
Previous triangle breakout target reached and price has retraced and resting on support around $9.25.
Now it looks like we have a rounding bottom or saucer with the rim around $12.10ish.
Rounding bottoms are typical reversal pattern, when the price breaks above the rim which is $12.10ish the stock can run to $18.
Can it happen? Who knows.
Target 1 - $12
Target 2...
Overbought, divergent B wave now heading down. Backed up by dropping momentum and fractalism. Not even the cannons of Canoo are immune to the laws of market physics. Pretty confident here that this one is going to drop now.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets...
GOEV main position at the moment, price is breaking above resistance level while printing several bullish patterns, above ATH Vwap, good volume, and above 8ema, flow looked good today as well. I think this sector sees a bullrun with Biden's focus on EVs, markets are always looking forward.
This is an interesting little one.
GOEV up 17% and I'm shorting it here.
Its made a higher high here but if my EW is correct it is not because its bullish, but due to being a higher degree B wave whereas the previous upthrust was a lower degree X wave.
Its quite a cheeky poke upwards, cutting up through the 50Wma for the first time in a year, but I think it...
My 12.5 target was a success with 13.5 hitting PM and a 12.5 opening. Too bad it didn't close there and got snuffed by the EV pull back. Betting on DOE loan + AR + OK state deals to wag this tail even harder.
Float : 105 M , Short interest 30%
Canoo, Inc. manufactures electric vehicles. It designed a modular electric platform purpose-built to deliver maximum vehicle interior space and adaptable to support a wide range of vehicle applications for consumers and businesses. The company was founded in August 2018 and is headquartered in Torrance, CA.
GOEV price has formed a very strong base and has begun to curl upwards from that base support indicating a potential price breakout.
Fundamentally EV stocks have been more bullish over the last month.
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$GOEV - Canoo is currently in stage 1 bottoming process. A break above $8.50 would mean a break out from symmetrical triangle and the price could reach $12.88.
It could also kick start the Stage 2 up trend.
Target 1 - 8.50
Target 2 - 12.88
Target 3 - $15
Risk - failure to break out above 8.50 to 9.
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How to read my charts?
- Matching color...
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.
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