Long
RIDE, REVERSAL COMING SOON!
Hello fellow traders and investors, here's another trade idea.
RIDE has recently pulled back to the support area and tends to make a reversal to the resistance zone (take profit). If RIDE makes a full recovery it offers a 88% ROI.
Technicals:
The Macd indicates that RIDE is oversold
The Ema's indicate that RIDE is still in a downtrend
When To Buy:
When EMA's crossover
When the Macd indicates a reversal by crossing its EMA
When To Sell:
I recommend selling in the take profit area.
Fundamentals: RIDE is an automotive company, which designs and manufactures light-duty electric trucks targeted for sale to fleet customers. They have very messy fundamentals like -366% EPS Q/Q and an ROE of -0.60%. Institutional ownership has risen 168% and the short float is 8%.
Rating: 30/100 because RIDE's fundamentals are terrible however they do have a short float of 8% so if the stock goes up enough they will have to cover their position and create a short squeeze. Other than that the technical side of things looks good.
NOTE: I might take a small position on RIDE when it indicates a reversal.
I hope you enjoyed this quick analysis and many more to come.
If you enjoyed leave a like, follow, comment your thoughts and share this trade idea.
Thanks.
RIDE has recently pulled back to the support area and tends to make a reversal to the resistance zone (take profit). If RIDE makes a full recovery it offers a 88% ROI.
Technicals:
The Macd indicates that RIDE is oversold
The Ema's indicate that RIDE is still in a downtrend
When To Buy:
When EMA's crossover
When the Macd indicates a reversal by crossing its EMA
When To Sell:
I recommend selling in the take profit area.
Fundamentals: RIDE is an automotive company, which designs and manufactures light-duty electric trucks targeted for sale to fleet customers. They have very messy fundamentals like -366% EPS Q/Q and an ROE of -0.60%. Institutional ownership has risen 168% and the short float is 8%.
Rating: 30/100 because RIDE's fundamentals are terrible however they do have a short float of 8% so if the stock goes up enough they will have to cover their position and create a short squeeze. Other than that the technical side of things looks good.
NOTE: I might take a small position on RIDE when it indicates a reversal.
I hope you enjoyed this quick analysis and many more to come.
If you enjoyed leave a like, follow, comment your thoughts and share this trade idea.
Thanks.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.