What is up, everybody welcome to trace trades, where you 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 premise by saying that i'm not a financial advisor nor expert - i am Just something i'm doing on youtube, so take what i say with a grain of salt. The reason that i started this channel is because, a couple years ago i was about thirty thousand dollars deep in some pretty bad medical debt, and i was very lucky to have some close family friends and mentors that pushed me to work really hard and invest. My money and i'm happy to say that i am now living a financially free life, so if i can pass along any of the information resources or tools that were given to me and change your lives even for a little bit better, that's all guy can ask For, lastly, if you wouldn't 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 daily multiple times a day. So with that being said, today we're going to be looking at ticker symbol.

Idex ideonomics incorporated we're going to be running over the price action that we saw yesterday on new year's eve and uh give us an idea of what to expect on market open monday. So i have the one month and the one day chart pulled up here and i want to run over the general trends really quick. So we have been seeing pretty steady volume in the stock. It does see a lot of volume.

There is high sentiment towards this stock. A lot of people seem to think that this stock can blow up, and it is because they are invested in the ev sector. The ev sector is very hot right now, so the sentiment towards the stock is abnormally high compared to what it has been in the past. Now we are looking at you know.

At the beginning of the month, we were about 2.83 cents and now we're sitting at two dollars, so the one month trend is bearish, however um it does go up and down pretty drastically, depending on what news and public relations comes out. As you can see here, we saw a spike up to two dollars and 80 cents, once idex announced that they would be working towards 2 000, electric vehicles uh being in the company's name. So you can see the volatility and the amount of buying pressure that can come with a positive catalyst towards the stock. Now there is a couple different ways to play this: you can swing this as a mid to long term investor.

That is personally what i plan on doing, or you can swing and day trade this, and that is why i have the one month and the one day chart pulled up in case you'd like to do either of those things. So if we look here at the monthly chart, we're probably looking at a very solid support level, you know at this dollar 92 range. We did see some price rejection on this. Yesterday we hit a 1.92 and came all the way up to a two dollars and eight cents, so if you swing or day traded this at a dollar, ninety two up at 208.

Congratulations, that's a pretty solid margin of return! I'd be very happy with that, and you did that all in a matter of about 20 minutes. So congratulations that is awesome, but if you're looking to get into this as a mid to long term investment, i do see a dollar. Ninety two is a pretty solid entry point, however, if we do drop below a dollar. Ninety two, our next level of support, is likely going to be around here at 1.75 and if we do drop below 1.75 you're looking at a dollar 67.

uh we'll call it a dollar 66. If i can change this really quick, sometimes the mouse doesn't want to click on it, we'll call it 1.66 um. Those are two potential buying and entry points if you're not already in the company it would like to be. I would look for the dollar 75.76.

If we do dip below 1.92 now we have been holding this level pretty decently. Well, over the last seven days, and in fact we have been pretty bearish, i mean if we change this to a 10-day chart we're looking at bullish as i was. I meant bullish. We were at about 1.82 ten days ago and are currently sitting at two dollars and three cents, so we are on an overall bearish trajectory.

We do seem to be hanging above the volume moving average here for the the first seven days of the 10 day stretch, but we have been on a bearish run over the last one. Two three four days we have been pretty steadily declining. However, in the in the after hours we were pretty much entirely green. I mean we finished 1.99 ended at about 203, so that is a good sign of what could possibly come on monday market open.

However, i'm not a wizard, i can't predict the future. I can only show you the trends and it does seem on the last three days four days that we are on a bearish trend, so we are trading below the volume moving average. We have been going down. It is possible that we did below this dollar 92.

However, it does seem to be a very solid, acting level of support, so we have one two three touch points here, just in the last 10 days, so that is a great sign of what's to come. I have a long-term price target of ten dollars on this and if we can get above ten dollars, i do think the stock has a lot more upside than ten dollars, and i'm going to show you an article real quick on why you know this is just One huge reason why i think the the company can blow up i'm just going to read it too. Quick ideonomics is a huge bet on the multi-billion tracking marketing going electric, and i do think this is going to take some time. This isn't something that will take off immediately.

I mean people do have a sentiment towards gasoline and diesel run tractors. This is a movement, especially considering you know the age of people who drive tractors. It's typically not people our age. You know in the 18 to 30 year mark we are looking at older gentlemen.

I mean most farmers are our older people, you know in their in their 40s, 50s, possibly 60s. Although we do have people in our age who are farmers, the majority are older than our generation, so it will take time to make the transition, but i do think it is eventually going to happen as the world is transitioning to a clean energy alternative to gasoline Diesel and oil anyhow, the two big spikes and shares of ideonomics on above average volume should tell speculators all you need to know. Chances are high that idex stock will jump above the three dollar level only to face significant selling pressure, and this is true. If we go back to the chart, you can see we hit 2.80 and we have been on a decline since so there is selling pressure.

There are people who think this. This company is not worth more than two dollars, which is why it's consistently shorted. However, it is just a matter of time in my eyes, until we have a news release for a financial, you know q4 financial release that is going to push the stock up because, as i will read to you, they do have promising growth that they have been Showing ideonomics raised its ownership and select select track to 24. In october, it announced a 15 stake in the e-tractor company.

This is what i was talking about earlier. This is the company that they are investing in where they see the market going, and if this does take off that will exponentially shoot stock price up. It is speculative, it is risky because it may not happen, but if it does, the upside is very high. It's a risk to reward ratio.

Here you need to weigh that for yourself when you make your financial decisions. The agricultural tractor market autonomic said the agricultural tractor market is worth 75 billion. The north american market will reach 20 billion by 2023. So if the company can win even a small portion of the market, it may earn a billion in annual revenue, and that would be huge for this company.

That would be that would shoot stock price up exponentially multiples. Two three: four: five 10x, i mean you'd make a lot of return on your money, so the upside is very high. The company is not just an eevee play on over november 12th, it acquired timios holdings. A privately held firm.

The deal is worth 40 million. It exposes the company to the mortgage entitled industry. It also had a pretty solid third quarter, um financial statement, so ideonomics posted steady unit deliveries in its third quarter unit deliveries, topped 626 up from 97 in the second quarter. So that's a pretty large growth you're.

Looking at you know about 600 and some change percent growth in that in that sector and uh, you know, i don't think the stock price really reflects that, because there is sentiment towards the stock as a short as a pump and dump historically. However, once we get q4, that would be very indicative on where the stock is going and if it can capitalize on the tractor industry the select track industry. I do think it is going to shoot the stock price up pretty well. Revenue grew for three straight quarters, so there is growth happening over the past year.

Keep that in mind. After cutting costs by 1.6 million dollars, shareholders may anticipate the company will eventually reach profitability. They lost three cents, a share in the quarter and improvement from the 11 cent loss last year. Financing activities in the nine months ended september 30th.

Worth 45.74 million dollars suggests that the company will not need to sell shares or take on debt. So you don't need to worry about a share dilution. I don't think that's going to happen. The stock is only worth two dollars and some change guys.

That's not a huge profit for the company to do. If they're going to do that, i think it's going to be when we reach closer to that 10 range and i will post an update. If i think that is going to be a factor - and i will i will inform you guys so you can make your decisions on whether you want to pull out or not i'll. Let you read the rest of the article i'll leave a link to the description box down below um, but i this is just something i wanted to point out to you on why the upside here is pretty decently high, so i do think idex long term can Reach that 10 mark - and if it does it's going to graduate out of the penny stock sector and the growth from there is going to be higher because it's going to attract new buyers, it's going to gain some traction.

It'll have hype, it'll have fomo. People won't want to miss out, because if this company does take off it'll take off that's what happens. Guys, um, fomo and hype drive stocks to price valuations, probably overpriced, valuations nonetheless, but price valuations that you can sell off of and make a huge profit. So that is what i think of idex on the monthly time frame.

If we're looking at the daily chart here, you know 1.92 as support level. We have a secondary support here sitting at about. I like this one, probably the most at a dollar 98 and a third support level at two dollars, nice even round number. So if you do like to swing day, swing or day trade, this stock - those are potential entry points, i think, a dollar.

Ninety two is probably the best entry point that you're looking for, and you know if we look at the the the one month chart here of the 10-day chart here, you can see that if the volume is high, the volatility is high. You can you can get all the way up to 2.80, if there's a solid public relations that comes out or a solid news, catalyst that pushes the stock price up. So you just need to be watching very closely on the news and what we're expecting out of idex. I will be posting uh when i do hear things and when i expect the stock price to shoot up so watch for that.

But these are levels to watch for. If we look at the volume moving average on idex, you can see that it went up and down right. We were a little bit bullish at the beginning. We were very bullish at the beginning and we went bearish.

You know we went on a pretty solid downward trend from this high of 208 down to 1.98 1.99, but we are up in the after hours, so it is possible. We see a green day. However, the trend is red. We are on four bearish runs in a row, so it's more likely that we see a red day on monday unless there is some positive news - catalyst that comes out of course, but do keep that in mind.

That is what i have for idex. I hope that was helpful for you guys i do try to get out updates as much as i can on the price action on the general trends. That way, you have an idea of what you're getting your money into and can make better financial decisions. Of course, i do not recommend you blindly follow me, make sure you do make your own financial decisions, but i hope this was helpful.

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