What is up, everybody welcome to trace trades, where we have technical analysis on different stocks in the stock market, as well as potential buy, hold or sell opinions on these given stocks, i like the preface by saying that i'm not a financial advisor. I am just some random dude on youtube, so take what i say with a grain of salt. The reason i started this channel is because a couple of years ago i had some pretty bad medical issues that put me about thirty thousand dollars in debt, and my trick and key to financial freedom was given to me by a couple of friends and family who Told me to get into the stock market, and what do you know a couple years later? I am completely medical debt free. So if i can pass along some of that information to you guys and leave you off a little bit better than you were before, and then you can do the same for somebody else, that's all i can ask for man that make me one happy dude.

Lastly, if you wouldn't mind dropping a like on the video, it really does help out the channel and consider subscribing if you'd like to see more content like this. I do post videos daily multiple times a day and i do talk about idex ideonomics incorporated quite a bit. So if you'd like to see more information on this, please do join the community here at trey's trades. With that being said, today, we're looking at idex ideonomics incorporated we're going to start off by looking at the 10-day chart here and looking at the overall trend.

So you can see here that we started off at about a buck 85 and got as low as 1.71, and there was a very heavy price rejection here at 1.71 from there on. It was honestly just straight up the the rest of the day. We got up to two dollars and five cents um. You saw a pretty steep limit order sell off here, but the rest of the day we hung out above the volume moving average.

So you could call these first three days, bearish territory, although it seems to be more neutral than anything. You know we did go up and down throughout the volume moving average, so it was a little bit of a tug of war. But with that being said, the past one two, three, the past three days out of five, have been bullish and if you look from december 18th up until yesterday, you know we started off at a buck 73. We got as high as 280..

Now that is a very solid turnaround. Man. 12. That's that's a 10 day swing of 1.10, oh man.

If you were able to to sell out in the pre-market, i'm sure you were a very happy guy, but if you're still around like uh like a lot of us like, i am you're looking for more - and this is gon na - be a huge level of resistance. That we'll touch on a little bit, but i just wanted to point out to you some different levels that we had to break through first. So this was an old acting level of resistance right here and if you look at the charts you can see once this was broken through, we really rocketed up, so we had some price rejection down to this exact level of resistance which acted as a support, since It was above it and once it bounced off it bounced off high man. We really came down on that thing, and now it is acting as a solid level of support for the stock.

You can see that we had a a uh double up one two, then, the third time we came back down dip below that. So this is a secondary support level. We came back up and this keeps acting as a very solid level of support. So that is a beautiful thing to see this old resistance line.

We're really going to like that, but i'm going to replace that with a level of support, so we're going to just drop that right here. That'll be our new level of support on this stock and the new level of resistance that we're going to be looking for. You could probably guess this is going to be this 280 price target now, if we can break through this 2.80 today you're going to be looking at three dollars and there's no doubt in my mind about that. The way that this stock moves when it busts through resistance, it usually covers you know.

If you look at patterns, i can't predict the future, but i can tell you what i see in trends and patterns of the stock when it breaks through resistance lines. You see a pretty hard move like this is probably the highest point for idex before it made its move at buck 92 and if we sit here at a buck, 92 boom went up to 205. So that's a that's a 15 cent swing which for a penny stock like this, is a lot, especially when, historically speaking, this stock has always been either a consolidation moving stock or a pump and dump. You know, there's usually not a lot of price action here.

Like look at this look how many months we traded between a buck four and a buck 15., you know, there's just not a lot happening there and uh. It's it's really nice to see some solid growth, some solid, higher lows and higher highs that we're establishing. So, let's take a look at the daily charts here. This was yesterday.

You can see that we got as low as 243 there and 232 here, but this is a higher low. So, even though it was a red day, i am i'm very happy with how the the stock responded to the market, especially because the entire ev sector was getting absolutely massacred and this thing held up pretty well, it really didn't get beat up too bad. So that's a good sign. I really like the volume and where it's at, if you look at the volume on the 10-day chart, it was actually pretty high and the volume on the stock has been actually growing day by day, which is good to see.

This was christmas, that's why i only see half of the normal volume here, but it was up a lot yesterday and i would expect to see that same sort of volume and volatility with the stock. Today, you are going to probably see some pretty heavy ups and downs, but that is what is going to drive higher price valuations, because volume drives volatility and volatility drives higher price valuations, so we're gon na change this to a one minute chart again. This is the pre-market all right, so this was yesterday. We have this previous, this uh, this acting level of support, which held up pretty well dipped under and now in the pre-market.

You can see that it's kind of flirting with this a little bit it's uh coming up and down up and down up and down right around this level of support. We are currently trading underneath the volume moving average. So if you do want to get into this stock, this is probably a pretty solid time to do so, because i don't think we're really going to come back down to this level unless we break through this level of support pretty hard. And if we do you're going to be looking at probably about here as a new level of support 220..

So if we come past this uh, you know where we're at right now at 237. I would look for that 220 mark as a possible entry point for the stock. Now, if you're, holding the stock and uh you're thinking about selling well, it really depends on when you bought it. If you bought in at uh at a buck 70 and you're sitting right now at 237, that's a pretty solid profit man and if you want to sell, i wouldn't blame you.

However, i wouldn't be selling. I would set a stop loss for probably about two dollars and 25 cents. That way you could maximize your profits and hold on to that profit. But i do think you should be watching this 280 mark here, because if we can push through this you're gon na see quite a bit of volatility and i'd.

Imagine you're gon na see over three dollars on the stock, so i do think there's buying opportunities here. Do look for 232 and 220 has potential entry points and my exit plan is going to be between 280 and three dollars. You know, however high it ends up going. That's what i'm going to set by truly stop losses when we can hold above 280 for a day um, at least in the short term.

I do see idex being a big player in the future. In my previous video i talked about how idex had some pretty solid news and i'll read this off to you. Let me find it real, quick, so ideonomics just bought 2 000 customized byd electric vehicles for ride hailing services. So that's a pretty huge deal.

Um they've moved into actual vehicles for the company, actual tangible material liquidizable assets, which is huge, and i think this is really going to drive the stock price up, and i think that's why you saw it run up so much here in the after hours. In the pre-market you know that was a pretty solid swing from 225 up to 280., so that is a that's a pretty big deal and uh. I do see this in the mid to long term reaching you know. I think this is going to grow out of the penny stock range.

I think eventually, you're not going to be looking at a penny stock anymore you're going to be looking at just a big player. You know this. This could be the next neo. This could be the next xp ev, the next league, it's really hard to say, but you're never going to know unless you give it a shot.

So that is what i have for idex today. I hope you guys enjoyed the video. Please drop a like if you enjoyed, it really does help out the channel, and i appreciate your support and consider subscribing to the channel if you'd love, to see more content like this and join the community here at trey's trades. That is all i have for you today and i will see you all next time: peace,.