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Ideanomics Stock Update: IDEX (Ideanomics) stock is a company focused on facilitating the adoption of commercial electric vehicles and developing next generation financial services and Fintech product. IDEX closely works with electric vehicles, EV batteries and electricity, and charging solutions (PLUG, NIO, SBE, FCEL, Etc.) In this Ideanomics Stock Update video, we cover a macroscopic and microscopic overview of the company. We also establish levels of support and resistance for both investors and traders, analyze the 200 EMA (Exponential Moving average), 20 VAMA (Volume-Adjusted Moving Average), RSI (Relative Strength Index), bullish and bearish trends, technical analysis chart patterns, and potential entry and exit points for traders and investors.
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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'd like to press by saying that i'm not a financial advisor nor expert - i am just some random - do on youtube, so take what i say with a grain of salt. The reason i started this channel is because a couple years back, i was about 30 000 deep in some pretty bad medical debt, and i was very fortunate to have some close family friends and mentors that pushed me to work really hard and invest my money, and I am happy to say that not only am i now financially free, but i'm doing pretty well for myself at the age of 23. So if i can pass along any of the information resources or tools to you, guys make the community a little bit better off than it was before, that's all a guy can ask for.

Lastly, if you would not mind dropping a like on the video really does help support the channel and consider subscribing if you'd like to see more content like this, as i do post videos every day, multiple times a day. So i'd like to give a quick shout out to the guys over the patreon, we did have a couple more people joined today. We've got uh andrew sarah david, armando s, ryan omar karthik. Thank you guys.

So much for your support really does mean a lot to me. It's so cool! I i didn't imagine the channel growing the way it is. They do have access to the private discord, as well as real-time insight to my personal trading. So today we're going to be giving an update on ticker symbol, idex, ideonomics, incorporated and man.

This thing has been absolutely filthy: oh man, uh, i'm actually a little bit mad, because i i had a position in the stock at two dollars and two cents and i bought into bio nano genomics and this stock wasn't really moving a whole lot at the time. I did i didn't anticipate this uh, this plug power - 1.5 billion dollar investment to come from south korea, which you know, shot the stock up, we'll talk about in a minute, but i did sell out of this stock so that i could put some more funds into Bio, nano and the uh, the funds didn't settle right away, which so i couldn't even use them. I transferred over idex from ameritrade, and apparently i can't access the funds yet so you know i kind of just lost out on a pretty large run-up. I sold that for about two dollars and 45 cents and uh a little bit bummed.

I can't lie, i can't lie, but it is what it is anyways if you're new to the channel, you don't know what idx is we'll just give you a quick uh, fundamental rundown on the stock uh ideonomics. Is a global company focused on facilitating the adoption of commercial electric vehicles and developing next generation financial services and fintech product the firm operates through the mobile energy, global and ideonomics capital business units, his electric vehicle division meg provides group purchasing discounts on commercial electric vehicles, ev Batteries and electricity, as well as financing and charging solutions. Now this stock has a pretty solid following on stock twits, 72 000 people, the message volumes up sentiments up and, of course the price is severely up man that stings. Oh, what do you do? Uh? I anticipate and uh speculate that it is up because of this plug power.

Just received a 1.5 billion dollar stake from a south korean company uh and that shot up every sort of clean energy and uh. You know autonomous driving vehicle electric vehicle company in the market. They were all super super hot today, like plug, was up in absurd amount. They touched, i think, 47 dollars in the after hours.

Fuel cells up about 22 idex is up. You know, 36 percent. It was a. It was a hot day for uh for clean energy.

Man and this stock definitely reaped some benefits, they're, looking real solid, so we're gon na give you a rundown on the macroscopic and microscopic viewpoints on idex. I do have a couple of indicators pulled up the rsi relative strength index, the 200 period moving average on the ema exponential moving average, the 20-day volume adjusted moving average we're going to talk about what these both mean. We'll talk about the overall volume the stock's been seeing as well as uh some bullish and bearish trends. So i do have a couple of levels of support labeled off here and i'm not gon na remove these.

Yet just because of uh. You know how the stock tends to trade. If we do look back in the past, you know this uh. This stock does seem to come up and down pretty drastically.

I do have high hopes for the stock. I am i'm long this for uh 2021 and i'm definitely gon na be getting a position back. I'm kicking myself in the butt so hard that i that i sold out of my position for bio nano man um, but i think they do have a solid potential and they're honestly undervalued and kind of uh. Given a given a rough time based on their pump and dump history, we do have support sitting at a dollar.

Ninety two another support sitting at a buck. Seventy five and then one sixty seven uh. If we do come back to these areas and you're looking to load up the boat a little bit more, that's a great buy zone. It's tough to anticipate! If we'll come back down from this 292, you know it is pretty early.

That is pretty steep. 36. Is a lot of a climb? I anticipate we'll give some of that back um, but you know we do have those as current support levels. More likely, i think, is that we will come back down to levels somewhere around here at 2.15 cents.

This does have a couple different contact points with some candles, and then we do have another level of support currently acting at about 237. So i like that as well. We have been trading there for the past couple of days before this pretty massive run-up, so i'm liking how this is looking uh neoday is a great catalyst too. That's going to push this stock up on january 9th.

So i do anticipate that we'll see some pretty solid run up on monday. If neody does go well, so be watching for that. Just keep that in the back of your mind, uh and then obviously the overarching uh resistance level is going to be right here. Just shy of three freaking dollars: oh yeah, oh man.

It feels good to see the stock run up because, honestly, i'm rooting for the underdog here. You know they get a bad rap, but i really don't think they're that bad of a company uh if we pull up uh if we pull up idx on market watch their uh their overall market cap is, you know, 688 million dollars. I think they have a lot more potential than that and that's what you're investing in with this company is the overall potential right um, but i just think they've got a lot more in the game than than that much money um. We do have a pretty nice.

Looking ascending wedge here, which which shot this price up right, an ascending wedge, if you're not familiar, is you draw a trend line from a high point and a channel line from a low point on some price action? And you see the squeeze of overall volume and it puts pressures on sellers and it brings buying pressure, which is a huge reason why we see this spike up that and the the obvious 1.5 billion dollar stake in plug. But this is something that you should take note of in the technicals and then also i have a very key point right here, where the volume adjusted moving average crosses over the ema, the exponential moving average, and what these two are. These indicators are these uh. The ema is a 200 day average cost valuation on the stock.

Based on you know, the price action we're seeing and then the volume adjusted moving average is a 20-day uh moving average based on overall volume and the amount of trading that the stock sees and any time that you see a crossover where the va ma crosses over The ema that is a very bullish indicator and if you got in on this stock right when that happened guys, you would have been sitting very well. You would have got in at about two dollars and seven cents and you'd be sitting at just about three dollars. Right now, uh 50 percent margin of return very solid. So that's something you definitely want to watch for in the future.

That doesn't help you much now, but it is something to take note of and something i noticed with idex. As we do see, this pretty massive run up so very solid price action. We're looking at here. The rsi is overbought, which you would expect.

After a 36 percent run up, volume is looking really really nice. We have seen a ramp up over the last four days. If we do continue to see this volume, you know anywhere between four million uh 14 million - that the peak here is over 20 million shares traded in a 60 minute window. I believe yeah 60 minutes.

I would expect the same amount of volatility, either in an upward direction or downward direction. A price correction is going to come. However, i don't know if it's going to happen yet right. I think a lot of this stock shooting up has been because of the anticipation of neo day right uh, i think all autonomous vehicles and all the electric vehicle companies are going to positively benefit from a positive neo day.

It's the same thing you saw today with with plug and all clean energy right. All companies benefited from plug. Getting that 1.5 billion dollar stake. It's a it's a confirmation and affirmation to traders that okay, i'm not the only one that thinks this is a good stock to get into it's a good sector to get into this is this is something other people believe in and uh.

You know if neo does well. Idex will also benefit, so just keep that in the back of your mind. Looking at the price action on the daily one minute chart it's kind of tough to drop levels of support because it was such a clean run-up. But we do have 2.70 as a current acting level of support.

Personally, i would not short this stock. I don't typically short to begin with, but you know you'd be betting against the trend right now. This is looking extremely bullish. The volume adjusted moving average even on the one day.

One minute chart is trading above the uh, the ema, and if you got in right at this point, when you first see that contact point or even right here, you'd be sitting pretty solid on on the day. I will draw that up in case. You want to pause. The video and just uh get an idea of where to look but uh.

This is uh. This has been a very clean action day. It's looking real nice um current level of resistance is going to be the same as we see on the one month chart, but i will draw it up, anyways right here at three dollars. Looking very nice, and now that i am looking at this in the after hours, we are looking to form one of those ascending wedges that i had mentioned earlier, and this could put some pressure on on buyers and sellers sellers specifically buying pressure to shoot that stock Price up a bit, so i would be watching for that.

When you break above one of these trend lines, we could see a pretty explosive movement either in the upward or downward direction. So idx is looking really nice right now guys um, it's it's tough to say how how much more the stock is going to run up where you should, where you should really get into this. You know it's not a good idea to chase the stock when it's run up this much as the downside and the risk is pretty decently high right. But if you are looking for an entry point, looking at 2.65 cents or 270 is pretty solid.

If you'd like to let this cool off a bit you're, looking at this long term as a mid to long term investment, i like 237 and 215. somewhere between this uh, this price zone is looking pretty solid and if you do see a diplo 215, a dollar 92 is beautiful, um. I do think you know a year two five years from now. This is not gon na be a penny stock.

You know it's just got a lot of potential. I can see it doing some really solid things in the future. So um, i don't currently have a position in this stock like like, i said so. I don't have a stake in this.

I'm just presenting the information to you straight as i see it right, but i do think they're a solid company and i did have a position in them and i wouldn't have, if i didn't think they could do good things. So that is the update on ide x. I did have a couple of people: bring it up uh as a as a stock to cover um. However, i was going to cover this anyways, so uh, you know we're all sitting pretty good here, uh with this.

With this update, i'm sure that people will definitely appreciate uh. You know just celebrating the green day right light it up in the comments guys it's uh as chris same would say pop some champagne bottles, as i would say, let's crack a guy. Do i drink too, but not champagne. I like uh, i like whiskey, whiskey and boy light, but yeah.

That's what i have for the video today on idex. If you enjoyed the video, please drop a like, it does help support the channel and consider subscribing if you'd like to see more content like this, as i do post videos every day and i will cover idex again in the future, as i do plan on getting Another position in this stock when we do see a correction since i sold out of it for absolutely no reason uh. Lastly, i do have an affiliate link in the description box down below for tubebuddy. Now tubebuddy is an seo optimization website that i personally pay a nine dollar per month membership fee for - and i highly attribute this to growing - from zero to three thousand subscribers in 22 days.

So if you are looking to become a content creator or are one, it really helps get your videos into the eyes of your intended audience, and i could not recommend it highly enough. If you do use my link, i receive a commission off of your purchase. So it's a great way to support the channel and, if you're not interested, i just appreciate your time and uh you're, giving your time to the channel and supporting me in that way. So that's what i have for the video today.

Thank you for watching my friends and i will see you all next time. Peace.

By Trey

11 thoughts on “Idex approaching 1 year high! // ideanomics stock update technical analysis”
  1. Avataaar/Circle Created with python_avatars El khader says:

    I think that in 5 years Idex will 100X if they expand the huge potential of Wave in global market ๐Ÿค‘๐Ÿค‘๐Ÿ’ถ๐Ÿ’ถ๐Ÿ’ถ๐Ÿ’ต๐Ÿ’ต๐Ÿ’ต๐Ÿ’ฐ๐Ÿ’ธ

  2. Avataaar/Circle Created with python_avatars Serene Siow says:

    Bought 3.15..dropping now๐Ÿค”

  3. Avataaar/Circle Created with python_avatars Kirk Smart says:

    Thank you for doing IDEX they also acquired WAVE

  4. Avataaar/Circle Created with python_avatars Shoot The Moon says:

    I'm up 53% total with 2500 shares, sold 500 shares yesterday to stop the bleeding. Not sure if I should sell in the morning or see if I can ride even higher.

  5. Avataaar/Circle Created with python_avatars Invested in Caffeine says:

    Damn dude. Calm down. Like 20 videos a day from this guy. Go sleep ๐Ÿคฃ

  6. Avataaar/Circle Created with python_avatars JazzGamer Play says:

    Good job….

  7. Avataaar/Circle Created with python_avatars Omair Saeed says:

    Hey Trey! In your basic patreon packaging do you give us your trades in real time?

  8. Avataaar/Circle Created with python_avatars Hugo Hernandez says:

    Thanks for all the great info!
    Send me a POBox or something so I can send you some Montana whiskey bro!

  9. Avataaar/Circle Created with python_avatars Perry Cooper says:

    got 2 dollar call

  10. Avataaar/Circle Created with python_avatars Albert Wong says:

    I got in at $2.3 Great analysis!

  11. Avataaar/Circle Created with python_avatars Mathew Green says:

    Thanks Trey, I got in at $2.26 I think they are presenting tomorrow at EV Symposium. Do you think this will influence price action?

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