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In this video we take a look at SOLO (Electrameccanica), overall technical analysis of the stock, and opportunities to turn a profit on this stock on market open Monday.
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What is up, everybody welcome to trades trades. We have technical analysis on different stocks in the stock market, as well as potential buy, hold or sell opinions on these given stocks. You guys like to excuse my tone today. I am a little bit quieter as i met my girlfriends in wisconsin for the holidays, and everybody is sleeping just trying to be respectful of their sleep schedules.

I like to preface by saying that i'm not a financial advisor nor expert. I am just a random dude on youtube, so take what i say with a grain of salt. Lastly, i would like to thank everybody for subscribing to the channel. We just recently hit 100 subscribers, i'm so grateful for all of you guys uh.

It means the world to me if you think you're gon na enjoy this video. Please drop a like if not drop a dislike, either way you're going to help out the channel helps out the youtube algorithm and i'd greatly appreciate it, and if you'd like to see more content like this, i do post videos daily and i would like to get To 200 subscribers by next sunday, that is my goal. So if you'd love to help me get to that benchmark, that would be awesome with that being said today, we're looking at ticker symbol, solo solo, electric mechanic, a vehicles corporation and we're going to be looking at the one month and five day charts on this. So, let's take a look at the general trend.

You can see that we have seen a lot of up and down movement with solo, and that is because a lot of people have some pretty mixed feelings on this stock. Now, if you're not familiar solo is a three wheeled electric vehicle company, they are. They are in a very niche market compared to the rest of the ev sector like neo xp, ev, lee tesla, maybe someday apple, who knows but they're in a very niche market, and that gives buyers a kind of risky feeling with this stock. As they don't really know what the sentiment is going to be for the public, however, i do think that solo in the long term is going to be a company you are going to see a lot of.

I would not be surprised if, eventually, you find this in the united states as a more streamlined vehicle, especially with joe biden really pushing the electric vehicle movement uh with his presidency, and one thing that i've really noticed watching. Videos with solo is that a lot of people really enjoy this this company, they say it's very fun to drive when they get into a car. It rides really smooth it kind of feels like a small luxury vehicle, something you take out to go play golf. It's a great commute vehicle and i do think in the long term, you are going to see this company as as a big player in the ev sector, but as of right now it is a penny stock and i think this is an opportunity that you can Take advantage of so, if we look at the one month trend line, we do have an overall downward trend coming from pretty all-time highs of you know the 13 to 14 dollar range.

However, if we look at the last 10 days, we do see an overall upward trend, so we are on a 10 day bullish trend. Here we have spent a lot of time in the above, the vma, the volume moving average, even though, as of late, we are below the vma. So the last four days keep this in mind. The bears have been in complete control of this stock.

We have not spent a lot of time above the vma and then when we have, it has not been during regular market hours. It has been after hours, market or pre-market hours trading that has gotten above this vma, which is very interesting. That's an interesting trend that seems to keep keep falling with this stock and something that i also find very interesting. Is we've been staying pretty much within a very tight window of price on this stock uh lately and it's been between this kind of window right here and if you really want to bring it back a little more i'd say more like this.

So we're trading a lot between 6.88 cents and 7.52 cents, we've seen quite a bit of volatility and a little more volume than average in this stock in the last 10 days. Specifically, the last five days now keep in mind that if we want to see new all-time highs on the stock, we're going to be looking at busting through this, the 7.54 resistance level and then secondarily, this 7.66 resistance level. And if we can bust through the 766, you are probably going to be looking at an 8 price target as a next level of resistance, which would be an awesome green day for the stock. It is a long time coming for those who are invested in the stock, so that would be something to keep in mind.

You might write those numbers down 766 as a secondary resistance level, the primary being at about seven dollars and 54 cents. Now we do have a pretty solid uh support level here at 688. We have come off of this a couple of times. We do have one two, three, four, five, six, seven, eight nine ten candle wick sticks that have touched this resistance level and rebounded off of so.

I would be very surprised if we bust through this support level, but this is something you want to keep in the back of your head, so you might want to write that number down 6.88 as a number to watch. If we do dip below that, you may be seeing lower lows for the company and the previous support level here is at about and fourteen cents now what are the opportunities and ways to play this stock right now? Well, if you are currently in the stock, if you have a position anywhere under seven dollars, i think you're doing just fantastic. I don't think you can complain at all. In fact, the 698 zone right here, i think, is a great entry point.

Of course, i'm not a financial, advisor or expert so take what i said with a grain of salt, but i do think the 698 is a very solid entry point because we are, if you look at the last five days, especially quite a bit below what we've Been trading as of late, this is a very, very low end on this. This pretty tight window of price valuation that we've been trading in, so i think 698 is an entry point for those who are not in the stock, those who are in the stock. This is a great opportunity to buy on a dip and increase your position in the stock, even for swing traders. If you want to get into the 698 and sell out once we hit resistance, maybe we don't bust the resistance uh.

Maybe we hang around and start coming back down. That would be an opportunity to you know, turn around a quick 55 cents per share profit and uh for day or swing traders. That's a pretty solid turnaround. I'd be very happy with that.

If i was in your shoes, however, i'm not going to be playing it. That way, i am going to be. You know a mid-term investor on solo. I do see this eventually getting back into that eight dollar range and then beyond that, it's going to be a matter of closing in on that 10 mark and holding above it.

So we can get this penny stock to graduate out of the penny stock category. So keep those numbers in the back of your mind, it'll be interesting to see what happens on market open on monday, especially with talks of stimulus packages that have been going around the u.s right now. There is a lot of opportunity for the market to have an overall green day, and this company will definitely benefit from that. Lastly, one thing to keep in mind is neo day is on january 9th, and that is something that is going to affect the entire ev sector.

Now, if neo day goes really well, that is going to be a huge catalyst that is going to push stocks. Like solo idex, lee xp, ev and neo up quite a bit, i think that's going to be something you want to watch for. So if you need to write that date down, i would at least hold a position in this. If you are a position holder at the moment until january 9th, so you can see some solid growth.

Remember you want patience over pennies. That would be a huge catalyst to bring some insane volatility and volume into this stock. So you can get a pretty solid return on your investment. That is what i have for solo.

I hope that was helpful. Let me know in the comment section down below: if you have any questions or if you'd like me to cover any other stocks, um, please consider liking the video or disliking. It really does help the youtube algorithm either way. I appreciate you and consider subscribing to the channel if you'd like to see more content like this with that being said, that is all i have for you guys today.

So thank you for coming to the video, and i will see you guys next time. Peace.

By Trey

4 thoughts on “Solo electrameccanica stock to $8? // huge buy zone! technical analysis”
  1. Avataaar/Circle Created with python_avatars Jeanne C says:

    Why has solo dropped to almost USD 6 on 31st Dec 2020?

  2. Avataaar/Circle Created with python_avatars Ghost Shark says:

    I have 808 shares at 6.55

  3. Avataaar/Circle Created with python_avatars Snacka Fritt says:

    8 dollar is nothing

  4. Avataaar/Circle Created with python_avatars Sean Woods says:

    totally agree subbing my man great analysis we were in the same page

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