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In this video we take a look at IDEX, the monthly, 10 day, and 1 day charts, give technical analysis on current indicators, as well as a buy, hold, or sell opinion for market open Monday.
Recent IDEX Newsletter: https://ideanomics.com/wp-content/uploads/2020/12/Ideanomics-December-Newsletter_12_24_20.pdf
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What is up, everybody welcome to trace trades, where we give technical analysis on different stocks in the stock market, as well as buy hold or sell opinions on these. Given stocks. I'd like to preface by saying that i am not a financial advisor nor expert, i am just some random dude on youtube, so take what i say with a grain of salt i'd like to thank everybody for coming to the channel and specifically for 100 subscribers uh. This was a goal that i had right off the bat and we hit it pretty much within a week of starting the channel a little longer than a week.

So you guys all rock. Thank you very much. I appreciate all of you uh, if you think you'll enjoy the video. Please drop a like, if not drop a dislike, either way helping out the youtube algorithm and if you'd love to join the family out here and see more content like this.

Please consider subscribing to the channel with that being said. Today we are going to be giving an update on ticker symbol. I d e x id nomics, incorporated you'll have to bear the fact that me a little bit quieter today, i'm over at my girlfriends for the holidays and they're sleeping just trying to be respectful of their sleep schedule. But i have the 30-day chart pulled up here.

30-Day 30-minute chart and let's take a look at some of the patterns, so we're going to start off by drawing an all-time high resistance line, which is sitting here at three dollars and 33 cents for the one month chart and we're going to draw the low sitting. Here at right about a dollar 69, we'll call it a dollar 68. that is a little bit lower. You can see that we do have an overall downward trend.

We are starting here at three dollars and fourteen cents and finishing at 225, which is an overall downward trend. So you know if you took that large scale picture and looked at it that way you might not want to get into this stock. However, you do need to look at more than just one month charts one day, charts 10 day charts. You need to get a grand scheme picture of what's going on here.

So if you look at the 10 day chart that changed the picture quite a bit. You can see on the 10 day chart that we are in an upward trend now we're spending a lot of time above the volume moving average, especially in the last five days, which is a good sign that this is bullish territory. The bulls are in control and something else that i really like that i am seeing here is an increase in volume, so in in a typical 30 minute window. You know 10 days ago we were saying 780 thousand 1 million, 144 000 1 million, and then it seemed like it picked up quite a bit.

Almost 2 million shares traded 1.7 million shares 1.7 1.75 million just about 5 million and 8 million 296 000 shares traded. Here - and you know the last couple days - maybe we're down a little bit, but we did also see a little bit more consolidation compared to the growth we had before. Excuse me, i do think we are going to continue growing, but if we do not um, it will be because of this. So these are two levels that you kind of want to look for here.

We have an immediate support line sitting at two dollars and eleven cents, and i think this is a pretty strong support level. We have hung above this for uh three days now, mostly we had a couple of candle. Wick sticks that dipped below, however, they did only dip below and then immediately reject. So that is a good sign that, for whatever reason or another, this is a psychological barrier for investors, so keep an eye on two dollars and eleven cents.

This is a very important number i'd write that down. If we dip below two dollars and eleven cents, it is possible that you see uh, i see a little bit of a tank down to lower price valuations with that being said, there is a really solid resistance line that we need to watch for, and that is Right here we're going to call it 2.37 cents uh. If you really want to make it around, and even you can go 2.40 cents, but we're gon na go with 237 for the sake of the charts and we're coming up on that on that price valuation. Very slowly and steadily we've been creeping up, which is actually really unlike idex, and i like to see that that's uh, this really slow, consistent growth is promising that you know we might be able to hang around these new price valuations without dropping back down to previous Lows so i do like to see that but keep an eye on this 2.37 resistance line.

If we do break through this, there is a very good chance that we we we go up pretty high and i wouldn't be surprised if you see the three dollar price target at that point, because the next level of resistance, the next major level of resistance, is Going to be, you know - probably here first, you know at 248 but past that it's going to be just about three dollars, so keep that in the back of your mind, if we, if we bust through this 237 to 240 price target, three dollars is on the Horizon so those of you that are being patient with idex, it seems like you, may soon get your payout. However, we are going to need a couple more green days and a little bit more volume and volatility because, as i've said before, volatility is driven by volume. So that is what i have for idex. That's a look at the the the charts um.

I hope that was helpful. We have been spending a lot of time above the volume moving average, so the bulls are definitely in control. It does not look like, especially in the last three days we are in overbought territory. If anything, we have been a little bit oversold as we have come close to this 30 rsi relative strength indicator, and that is a good sign for bowls.

That means that if anything, the stock is undervalued - and this is a great opportunity to get in for hopefully a pretty solid ride. What would i do if i was a a position holder in idex? I would continue to hold. I am bought in at two dollars and two cents and i'm going to be holding until we at least break through this 237 line, i'm looking for a three dollar price price target to get out of the stock if you'd like to get into this stock. What would i do? I would try and look for this 2.11 cents support line as a possible entry point.

I would not try to buy in at 2.25. This stock is usually pretty volatile and i would be very surprised if you don't see two dollars and eleven cents, at least at some point. So if you want to set a limit order, for you know two dollars and thirteen cents just to be safe, you know the two cent spread really isn't that big of a deal you should be able to get in at some point. Of course, i'm not a financial advisor nor expert, and i cannot predict the future so um make sure you do your own due diligence.

If i could predict the future, i'd be very rich, and so would all of you all right. That is all i have for you guys today, please drop a like if you enjoyed the video drop a dislike, if you did not either way you're helping out the youtube algorithm and consider subscribing to the channel, if you'd like to see more content like this, with That being said, i will see you guys next time. Peace.

By Trey

4 thoughts on “Idex about to go parabolic?? // penny stock breakout possible?? // technical analysis”
  1. Avataaar/Circle Created with python_avatars Mike Sanchez says:

    I’ve been holding IDEX for a good part of the year along with a pile of call options for mid January on track to double. IDEX has a questionable past but the new CEO has a fantastic outlook for the future and more of a fintech play in the EV bus and heavy duty space as a broker while still having a modest product line. 5 busses should be announced soon so this will push the stock up higher. They’ve been leveraging connections in China and putting a lot of focus on government incentives. IDEX will be in line with the Biden green initiatives with their portfolio of companies most recently adding Timios. What I like the most about IDEX is they’re focusing on an EV sector that no one has really thought to pay a whole lot of attention to for Soletrac – electric tractors. With their MEG brand and adding electric tractors for farming and other uses the cost of ownership will come significantly down and EV loves torque and an EV engine is cheaper to own and makes a whole lot more torque than a diesel engine. Electric tractors and busses and heavy utility hasn’t caught on as anything “S3XY” but when I bought my first Tesla shares in 2015 a Tesla was just a fancy toy with a crazy CEO. This one is a gold mine but it’s no short play.

    As a recommendation and what stocks other people are following in this category with IDEX and JAGX is surprisingly GNUS. $GNUS has the same dirty past as many of the other penny stock plays with a new story and it too is a sleeping giant. Their upside could be 7-15 bucks within the next 2-3 years if Kartoon Channel keeps growing or if acquired by a streaming content provider like Netflix. Stock has been historically pumped and dumped and is heavily alg traded so technicals can be difficult because alg traders use technicals but positive news brings it up but more and more and more keeps coming out.

  2. Avataaar/Circle Created with python_avatars Evens Louidor says:

    Thank you Brother for your help. I really appreciate that. Do you know anything about the HYZON rumor please?

  3. Avataaar/Circle Created with python_avatars Sterling Pless says:

    Stay away Trey??

  4. Avataaar/Circle Created with python_avatars Universal Karate & Fitness says:

    You don't think it will dip Monday because of the chairman stepping down?

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