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 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. The reason that i started this youtube channel is because, a couple years ago i was about 30 000 in medical debt, and i had some family and friends who really helped me, push push me into the stock market and investing and if it weren't for those guys.

I would not be debt free right now and i'm eternally grateful for the information they passed along to me and i just like to pass along that information. The resources and tools to some of you guys. So if i can leave you off a little bit better than you were before, maybe you can do the same for somebody else. 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 and i'd love to have you be a part of the community here at Trey's trades with that being said, today we are going to be looking at ticker symbol, npa new providence acquisition corporation, and this was a stock that was recommended to me by a subscriber.

The subscribers name was david ashley, david ashley, says check out mpa, it's going to be big, no joke. Now i have a article pulled up here and i'm just going to read this to you. Real quick, new providence acquisition corporation does not have significant operations. It intends to acquire business through a merger, capital, stock exchange, asset acquisition, stock purchase, reorganization or business combination with one or more businesses.

The company was founded in 2019 and is based in austin texas. So new providence acquisition corporation sounds a lot like apxt, and i've talked about apxt on the channel before, but basically what ap xt is another acquisition corporation company and their sole purpose is to make an acquisition uh deal, whether that be with assets with a company with Stock with stock exchange organization, business combination, their sole job is to make those deals happen with other companies and new providence acquisition corporation seems to be the same sort of thing here, so that is very interesting now. What i find very interesting about this stock is in the past two days here we see a pretty significant gap up, and that is a huge bullish trend. That is a that's, a great sign of bullish movement and even though we saw a little bit of a red day yesterday, this stock still well, i guess it really wasn't even a red day.

It was a huge gap up and you know we don't see it here in the after hours or the pre-market so far yet today. But that is something that i really like to see, and you know it is possible today that we see a little bit of bearish movement. We are hanging out below the volume moving average, which is a pretty solid sign that will be bearish today. I wouldn't be surprised if you see us fill the gap here and if you're not familiar with that means filling the gap means okay, we kind of jumped from you know, 1359, all the way up to 13.99 and then to over 14.50, and i would not be Surprised if we see the dr the price drop below and fill in the spots where we didn't have um any sort of price action happening, so i wouldn't be surprised if we some.

If we end somewhere today between 350 and you know 1470, we might fill that gap and come back up. We might rebound. You never know, we'll cover solid support and resistance levels on that stock later. But i do want you to keep in mind.

This is a 10 day bullish trend. This is a very bullish trend. It's been slow and steady too. We haven't had a whole lot of price correction at all, except for this day right here, and it was a pretty steep price correction too.

I really like how this stock is looking, it's uh, it's really decent. The volume is looking very steady and if anything we picked up on volume here yesterday, which is a great sign for uh, for what could come today. So keep that in mind. We usually trade on a typical day between uh fifty eight thousand.

Ninety four thousand, sixty thousand so anywhere between fifty and a hundred k in a fifteen minute trading volume period, so be watching for that be watching to see. If we have any significant difference like we did yesterday, you know 150. 300. 123.

234. If we have another spike like that, where we're two or three x in our usual volume, you could expect a little more volatility than usual on the stock and volatility is driven by volume and volatility drives higher price valuations, so be watching. For that there is potential that we break out on this stock. Now, let's establish some support and resistance levels on the stock.

We are looking at a pri, pretty solid resistance line right here at just we'll. Just call it 16, because that's what people are gon na do anyways sixteen dollars as a resistance level on the stock, and we do have a support line both here and here now. Do i think, we're going to end up coming down to this 1429? It's possible. You know, as i mentioned earlier, stocks do tend to fill gaps when they are gapped up, but i also wouldn't be surprised if we bounce off of this support level and come back up, especially if we see some very solid volume and some some buyers step into This stock, so if we do that below 1429, i would expect a very uh, probably a day where we're going to fill in the gap on that stock it'd, probably be a pretty huge red day.

I would watch closely if you're not entered in this stock. Already watch to see if we drop all this 1429 and if we do you're going to be looking at us filling the gap and if we do fill the gap and we start to come back up. That's a pretty solid entry point to me. I would say that is a good point in which to get into this stock and ride it up this 1513.

We saw two pretty solid price rejections, although it did come back down through this afterwards, but this is a significant level right here for whatever reason or another. Well, you have to excuse me. I need to drink more coffee. My throat is all uh all stuffy um yeah, but this is a secondary level of support.

If we do come back up to this right now, there's going to be an acting level of resistance, so you are going to want to watch the breakthrough 1513 and then, after that, 16 is going to be the next level and if we can break through 16, I would expect a pretty solid push and if we can hold above 16 today, i would expect that the bullish trend continues and we continue to see higher price valuations pushed up on this stock, buy, hold or sell on this position. Well, if you're holding a position in the stock right now, i don't see any reason why you would want to sell, as we have been bullish 9 out of the last 10 days, and that is huge. You don't get that out of a stock. Very often, you definitely want to continue to ride on the momentum and we really haven't even seen that crazy of an increase in volume on the stock.

Yet, and typically when stocks heat up like this, people are going to hop in because of fomo man, people hate fomo, they don't want to miss out on making money and when the fomo hits that's, when you might want to consider getting out, you might want to Ride that formal wave when it hits those new all-time highs, take your profits. Man, that's what i like to do. When you see unusual trading volume, it doesn't stick around. That's why it's unusual, so i would wait and just keep riding it out and if that happens, consider taking profits.

I do have a price target on this stock of twenty dollars. I do think it can reach that uh. The way that it has been growing, especially if you got into ten dollars twenty dollars, is a perfect spot to take at least some of your profits and uh put them into another stock or wait until it dips and reestablish your position either way. This seems like a very solid company uh.

I may make another video on this, covering the fundamentals of new providence acquisition corporation. Let me know in the comment section down below: if you'd be interested in that, and if you are, i would gladly do it. That is all that i have for the video today. I hope that was helpful.

Please, like the video, if you enjoyed or dislike, if you did not either way. I appreciate your support and consider subscribing to the channel if you'd like to see more content like this, i do post videos multiple times every single day, so that is all i have for you today and thank you for coming to the channel. I will see you all next time: peace.