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.
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