What is up, everybody welcome to tracy trades, where we get 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. The reason that i do these videos is because, a couple years ago i was about 30 000 in the hole from some medical issues, and i had a couple of friends and family who pointed me in the direction of the stock market and investing, and that was My key to financial freedom and i'd like to pass along some of the wisdom and information that i learned from my close family and friends to others so that, hopefully, if you are in a similar situation, you can turn your life around too.

It would mean the world to me if i'm able to change even one life and improve somebody's uh somebody's financial situation. So, lastly, if you wouldn't mind dropping a like on the video, it really does help the youtube algorithm and consider subscribing to the channel. If you'd like to see content like this regularly, i do post videos every day, multiple times a day. So if you would like to see more stuff like this, please consider subscribing today we're going to be looking at ticker symbol r-i-d-e, and this was a stock that was recommended to me by a subscriber the uh.

The subscriber's name was frank barone he says trey. Can you take a look at ride? If you have a chance, please, well, i took a look at ride and we're going to pull up what this company is so ride is a new electric vehicle company that officially came public as of october 27 2020 and is trading on the nasdaq exchange. This was a pretty hot stock when it came out. If we want to look here at the stock, you can see that it popped off pretty pretty well so we're looking here at uh august, and you know we're starting off.

This is a daily chart. We started off about 1165 and capped out here at about 31.40 and we came pretty close to touching that 31 ceiling again here. We sat at about 30 75, so this has come pretty close to a double under and it looks like from the charts here uh that we are on our way to another bullish run and i'm really liking that i'm really liking this. On the on the monthly charts, so there's a couple things that i'd like to point out here.

If you look back to august and september, you can see. The volume per day was trading at about 1 million to 1.6 million 2 million. We had a couple of higher days, however. As of late, we are seeing an increase in volume.

This is some unusual trading volume on ride and i do like to see that because, as i've said before on this channel drop in the comment section down below, if you know what i'm about to say, volume drives volatility and volatility drives higher price valuations. So that is something to keep in mind here and i like to also pay attention to patterns, and you can see here that we do have a very solid pattern. I probably don't even need to point this out, but you can see that we usually tend to go on a pretty long trend of bullish territory. You know here we have, you know about 15 days of bullish run, and then we follow up with about 15 days of a bearish run.

It looks like about 15 days up 15 days down and it looks like we're about to start that same trend here. I really like to see that that's uh. This is a great opportunity to get into the stock and hopefully ride up to that 30 dollar price range. Now, of course, i'm not a financial advisor nor expert nor a wizard.

So i cannot predict the future. If i could, we would all be very wealthy people, but i can tell you that the trend says this is something that probably will happen again now. Let's take a look at the two day chart on the one minute time span: we're going to lay out some indicators here for you, so that if you are trading this stock, you have an idea of what to expect. We do have a support level right here.

Sitting at about 21.34 - and we have an immediate resistance level sitting here, and this is a very strong resistance level. I like this one, a lot at 23.13 now these are very strong resistance and support levels, and that is because the more of a price rejection you should you see the more you see that bounce off of a certain price valuation, the stronger the resistance level. So here you can see a very steep sell-off after we came off of this 23.13, which means that this is a barrier psychologically for investors. That's a number that you definitely want to write down and watch for, because, if we cross over this 2313 i would expect a very bullish run and uh.

I wouldn't be surprised if we hit 24 dollars the same day that we break 23.13 on the opposite side, you can see that this was a since we came off this resistance level that price rejection pushed prices down very hard and if we do go past, this Support line, i would not be surprised if we come down pretty bad, but on the flip side, if the stock comes down to the support line, i wouldn't be surprised if you see a pretty solid bounce, like you did here, 21 34. Up to you know just about 22 dollars, that's a pretty solid 70 cent bounce off of the support line. So keep these two numbers in mind. They are going to be very important on market open monday uh, but i am very, i would say, i'm bullish on this stock right now.

I do like where this is sitting, and i do like the current price valuation on this uh. If we go back to this three-month chart we're definitely not anywhere near the all-time high here, you know above 30. I think 21 is a pretty fair price valuation granted. We are above the volume moving average, which is bullish territory.

If you can't avoid entry upon a stock during time of being above the vma, that is preferable. So if we have a red day on monday, which i very highly doubt because of the stimulus package that was approved. But if we do, if we have a red day - and you see this dip below the vma dip anywhere close to that support level, i would consider that very highly as an entry point for ride. I think that's a great opportunity to get into the stock.

If you are interested in getting in - and i would consider thirty dollars a very solid exit point for this stock, if you got in at 2134 and you sold off your investment and your position at thirty dollars, you're looking at just shy of a 50, i think 50 sounds about right: a 50 return on investment, that's a very solid margin. I'd be extremely happy with that, and if we look at the charts here and look at the patterns, we can very easily swing from this 13 mark up to 30 dollars within two weeks. That's happened a couple times now already, so just keep that in mind. That is all that i have for ride today.

If you have any questions about the stock, please let me know in the comments down below uh, please drop a like on the video. If you enjoyed and consider subscribing to the channel, if you would like to see more content like this with that being said, that is all i have for you today. So i will see you all next time: peace.