What is up, everybody welcome to trey's trades, where we take a look at different stocks on the market, whether you should do a buy, hold or sell on a given day and technical analysis on the charts. Earlier today we took a look at solo, electric mechanic of vehicles corporation, and i had mentioned that. I think this is a pretty strong stock for some pop-off. And what do you know today? We had a really solid run.

So, let's take a look at the one day chart here. At the beginning of the day, we had an open at about six dollars and 85 cents. We saw a slight sell-off, which is usually the standard for early in the morning, as people will put their limit. Orders in that would immediately sell, and we had a little bit of consolidation here for about two hours well earlier today.

As luck would have it, there was an article that was released by an analyst, giving a new price target to solo of nine dollars and pretty much immediately after that we saw a huge spike in volume. If you look right here, you've got 435 000 orders that went through, and this is a one minute chart. So there was 435 000 buy orders that went in on solo and we saw jump from 6.73 all the way up to 7.35 at a high. And what is really incredible about this is we didn't see an immediate pump and dump on the stock? It actually consolidated in this price target from about 11 30 until about three o'clock and i live in minnesota.

So you know this is two o'clock eastern time, so it hung in this price range and consolidated for a solid three hours, which is really cool now. The other thing that i really like about this is once the stock did inevitably drop as there's always going to be a price correction in the stock. It did not drop to the initial price of 6.64. You can see here that we have a new support line right around here at six dollars and ninety cents, where we saw a pretty dramatic, uh rejection of lower price valuation.

You can see a bunch of buy orders that came in here, there's a little bit of red, but we ended the day on an upswing, which i think is a really good thing. And then, if you look at the after hours market here, we did see a little bit of a drop off. However, the buy rate has been hanging over this vma. This volume moving average pretty consistently through the last couple hours of the after hours market.

Now, if you have a position in this stock and you did not sell at the all-time high of seven dollars and fifty two cents, i personally did not i hold on to my position in the stock. I do not think that you need to fear what is coming next, because there is a pretty solid support line right here at six dollars and 86 cents. I do think you're going to see this stock continue to climb. I do not know if it will be tomorrow.

You might see this stock go through a little bit of a consolidation phase on friday. However, i do think going into next week that this stock does have potential for more upside. I think you could be looking at if we break this 7.52 price target here. This is going to act as a new level of resistance.

You could be seeing the stock shoot up to previous levels of 7.75 8.8.25, the beautiful thing about solo and and the volatility that comes with the stock. When it moves, is it can move really fast, so you can see a lot of upside and a lot of return on your investment here. It could turn out as a really solid swing trade. I do have to preface by saying one thing, and that is you can see here.

There is a pretty concerning head and shoulders pattern here, so we have the high at seven dollars and fifty two cents. You see the shoulder here at 744. Another shoulder here at about 736, so this could be a warning sign that the stock could continue to drop into tomorrow. However, i do have a bullish position on this.

I think, for the majority of the day, you see the stock hanging out above the volume moving average, the majority of the time, except for probably you know the last hour of the day. You do see the bulls maintaining control over solo. So i do think tomorrow we have potential to see a run. I have a position in the stock and i am still holding strong if you're a bull and you hold, you have a position in this stock.

Let me know in the comments down below. I do think this has potential to keep running up. That is all i have for solo electromechanical vehicles corporation today. If there are any other stocks that you'd like covered with a technical analysis, a buy, hold or sell analysis.

Let me know in the comment section down below. I do need to say that i am not a financial expert nor advisor i'm just some random dude on youtube, so take what i say with a grain of salt, but that is all i have for the video today. So thanks for coming to the channel, if we could get 100 videos 100, as i was 100 videos, maybe someday if we get 100 views on this video and 50 subscribers by the end of the week, that would be amazing. That is my goal.

So please hop onto the channel and subscribe if you'd like to see more content like this. Otherwise i'll see you guys next time, peace.