What is up, everybody welcome to trades trades, where we get 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 so take What i say with a grain of salt, the reason that i started this channel is because a couple years back, i was about thirty thousand dollars deep. It's 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 in the market and i'm happy to say that. Not only am i not 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 that are given to me, make the community a little bit better off than it was before.

That's all i can ask for. Lastly, if you wouldn't mind dropping a like on the video, it 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 now, quick shout out to the guys over the patreon. We are 40 members strong right now.

Thank you guys. So much for the support really does mean a lot ollie kenneth, jonathan ryan work, nathan, young devil, michael ryan, finger size, toes interesting name, my friend. They will have access to the private discord, as well as real-time insight to my personal training. Now today, we're gon na be giving an update on ticker symbol, ide, x, ideonomics incorporated and man.

I'm kicking myself so hard because i had a position in this stock and i sold out of it for some dry powder to get into bngo. Funnily enough and i transferred this account over from ameritrade and when i sold the stock uh. It did not give me instant funds, so i couldn't even use it, but if you were watching the videos for a while, you know that i had a position in idex and i currently do not now and oh my god, i really wish i did. I sold out at about two dollars and forty cents bought it for about two dollars and two cents.

So uh. You know it's running up pretty nice right now it looks it looks good. I really wish i was riding the hype with you guys, but uh. You know it's congrats to those of you who are so we're gon na cover a couple different things here: we're gon na look at the overall volume we've got the rsi indicator pulled up we'll talk about what that means.

We've got the 200-day period moving ema as well as the 20-day volume adjusted moving average. The vomit we'll talk about what these mean a couple: different technicals that i'm seeing on the charts here and then we'll look at this from a macroscopic and microscopic point of view and establish some new levels of support and resistance. So if you're new to the channel you're not familiar with ideonomics, is they are 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 meg and idynomics capital business units, its electric vehicle division, meg provides group purchasing discounts on commercial electric vehicles, ev batteries and electricity, as well as financing and charging solutions and idex has seen a massive run-up over the last couple Days it's on an extremely extremely bullish, run and uh. It is for a couple different reasons, so um, if you weren't aware before plug, did receive a 1.5 billion dollar investment from a south korean company and all clean energy and electric vehicle.

Uh companies in that sector are currently running up like an insane amount. As you can see, idex is absolutely killing it god, i'm so pissed. I don't have my position anymore. Oh, that would have been that would have been filthy but uh.

That is a large reason. Why and then ideonomics also just recently on january 5th, did put this on their website and i want to share it with you. I will leave a link to this in the description box. If you'd like to look at this more closely but i'll just read you this really briefly, so on january 5th ideonomics is pleased to announce it has signed a definitive agreement to acquire 100 of privately held wireless advanced vehicle electrification wave for cash and stock consideration.

The material terms of which are disclosed in the company's related 8k filing roth capital partners acted as an advisor to waive on the transaction. The acquisition is subject to customary closing conditions now this is this is pretty huge guys and i do anticipate. Not only will this help the company, you know financial situation and potential for growth in the future, but in the short term, this is a huge news, catalyst that has absolutely made the stock go parabolic some freaking filthy returns. If you got in on the stock, pat yourself on the back because uh you know, there's a lot of haters on idex for sure a lot of people thought there's no way man, the stock isn't gon na ever do anything.

This stock has always been a pump and dump it'll always be a pump and dump. As you can see here, it does have a history of that right and i totally understand where you're coming from it's huge pumps, huge pump, long, slow decline bleeding out on the stock, but it has a lot of potential guys and i i really do think this Is going to be a solid company in the future? So if you do have a position in this stock at this current moment, i'm very happy for you and i'm glad that you wrote out all the all the negativity that you were probably seeing on on message. Boards or on youtube comments and the like thereof, so let's take a look at some of the different levels we have here. I am going to get rid of this 2.15 previous level of support.

We've graduated. I don't think that is uh realistic. At this point we will keep 237, though, so we do have 237 as a current acting level of support, as it was a prior level of resistance. When we did push through this, we had a pretty harsh movement up, followed by 2.53 cents.

You can see. This is a prior level of support, so we will uh are resistant, so we will act as uh as a support level now followed by two dollars and 80 cents previous level of support and then uh two three three dollars, i'm really liking, as this was a Very strong resistance and three dollars is a nice even round number to remember, so it should be fairly simple moving forward now, this resistance line is probably going to be meaningless by the time market open comes around, but we are looking at 3.69 as a current acting Level of resistance - and if we do push through this, i would not be surprised, at least if we do see a four dollar price valuation on this company. At the end of the day, we are looking extremely bullish, guys there's a lot of solid things happening right here, and i want to show you a couple different things that i have pulled up. We do have a crossover on the 20 day period, volume adjusted moving average.

That is the light blue line right here and, if you're not familiar with what this is, it is a volume weighted uh average valuation over a 20 day period. It just shows you an overall trend line and we are sitting at 270 on that trading way, above that on the on the charts, which is a very bullish indicator and the 200 period ema is a 200-day average valuation on the company based on price action. We've seen over a 200-day period, and we do have a crossover here between these two, these two indicators right and that is an extremely bullish indicator and usually a sign of a a future pop off on the stock. So if you were able to get into this when that happened at two dollars and seven cents and you've been riding it this entire time, you are up nearly 100 percent margin of return in a matter of uh of about three days and you're sitting really nice Right now, so i'm very happy for anybody.

That's in this stock we are looking very promising. That is, that is beautiful, uh the rsi indicator. We are in extremely overpowered territory. That's uh! It's pretty filthy overbought territory, which we haven't seen in a while right.

If we zoom out on the on the company, maybe three months, we did have that when we saw that spike up to 4.76. However, you know we have been in that neutral zone for quite some time and we are approaching what i would assume is a very similar trend here right, so, just speaking on trend and history of the stock and how it trades, i would not be surprised if We approach this 475, either by today or by monday, the way that the stock is moving. It would not surprise me in the least bit so do be watching for those levels in the future. We are looking very promising.

The overall volume has been increasing day by day and with an increase in volume, comes an increase in volatility. So, as you can see, we have been moving more harshly over the last couple of days, which is a very positive indicator to me and if we look at the free market, actually we have a huge spike. So i think, there's some heavy anticipation that this company is going to do some solid things and we're going to see a huge pop off, which is why we are seeing this huge spike in trading volume during the pre-market hours. At this given moment, we do have i've drawn up a ascending wedge formation, and what this is is it is a trend line between the top of a current price action and the bottom of a price action, and you see a squeeze in this price action right And when you see this squeeze, it is a compression on sellers and it is buying pressure so that when the stock does pop off it, it has pretty harsh movements right and we did see that come to fruition.

So i did point this out in my idex video in the past. I pointed this out yesterday and uh as you can see it is it it's worked out very beautifully. We are gapping up very, very well in the pre-market right now, as well as the after hours yesterday, and i would anticipate that we continue to see this bullish movement even though you're, seeing a little bit of a sell-off right now don't be concerned right. The overall trend is bullish and the microscopic trend is extremely bullish.

We do have that crossover between the uh, the volume adjusted moving average and the 200 ema right here very bullish indicator and the larger this gap between these two uh indicators, the more bullish a stock is so don't be concerned with a couple of red candles. If you do see that, because the macroscopic view and the microscopic view of this company is extreme bullish territory, we're looking we're, looking really really mean right now, so looking very solid. If you're, looking for a potential entry point for a long-term trade mid to long-term investment, be watching for three dollars and 12 cents at this given moment, however, do be cautious because we have run up a pretty decent amount right and with that comes the territory of Price correction and, as you can see by the history of this company, usually the price corrections are pretty steep, so we reached 4.75 cents and the price correction was all the way down to uh 87 cents. So this was 227, but you know 227 down to 87 cents, 475 down to about two dollars a little less than that.

So we gave back about 100 each time that there's a price correction so just be very wary on getting into for a mid to long term investment on this i do anticipate a pretty strong pullback in the future, but i do think there's going to be solid Things with this company and when that pullback does happen, i am going to. Sadly, i don't i wish i didn't have to, but i'm going to reestablish my position in this stock and get back into into the game, because i do think idex has great long-term potential, especially with that acquisition of wave. I'm really liking that uh. Seeing that news article on their website, if you look at this on a one day, one minute chart, you know we're looking at these current support levels: 265 270, followed by three dollars a previous acting level of resistance in the regular market hours yesterday, and then we Do have another level of support sitting right here at about three dollars and 12 cents, and it has been pretty much straight up since then.

We do have a small level of resistance right here, so a weak level of support sitting at about three dollars and fifty cents. So this may act and it looks like it's approaching: uh 350 as a level of support. So, if you're looking to get into this as a day or swing trade i'd be watching for a pullback to 312., that is probably the best best case scenario to me three dollars. I would definitely scoop that up for a day or swing trading opportunity.

However, this is very bullish and the movements have been clean. This is as clean as it gets for it for a bullish trend line right. We really haven't seen any correction whatsoever. So it's tough to say: if we're going to see that pullback or not, you know um.

I do anticipate that we're going to continue to see this bullish movement so don't chase the stock right. You might, you might end up chasing and get lucky, but most of the time when you chase the stock you're going to get burned so just be very cautious and if you get into the stock, i'm not telling you not to right. You make your own financial decisions, i'm not sure your financial advisor, but it is, it is risky right. So just just know that if you do chase this stock - and you buy this on at near an all-time high or at least a one month high, the chances of you getting burned are much higher than if you were to wait for a pullback.

The risk levels go down immensely, so just be watching for a pullback. I do think that is the best opportunity to get into the stock if you were looking for a day or swing trading opportunity, i would personally not short this stock at this given moment. As you would be going against the trend, the overall trend is extremely extremely bullish. You can see here that we have been literally nothing but straight up in uh in the last three days, and that is absolutely beautiful.

I'm loving the the price action on this and honestly i've been rooting for idex for a while. I just think that they get so much flack for absolutely no reason the the the overall trend in history being a pump and dump. I understand that right, but they're promising they have a lot of potential as a company. You know right now.

Their overall market cap is sitting at about 688 million dollars. I do anticipate this going up with the acquisition of wave right, but i just think that they have a lot of potential in the future and you're buying this company for the potential for growth and not the history of growth right, and that is what is beautiful. About this and most penny stocks is, the upside is so high because it's speculative right, there's risk involved, but when you get into these risky plays - and they pay out, you make off like a bandit, so just make sure that you're very careful about mitigating your risk. On getting into this as a day or swing trade, the volume is looking absolutely phenomenal.

I anticipate that we're going to see much higher volume than this just given the current pre-market price action and volume action on the stock, and it should be some pretty sweet, pretty sweet, uh lickins for the next 24 to 48 hours of trading. So that is what i have for the update on ticker symbol. Idex. I hope you enjoyed the video.

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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.