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3 EV Stocks That Could Be Set For A Downturn

Benzinga2021-04-16

The sellers are about to hitTesla, Inc.(NASDAQ:TSLA).

The stock has staged an impressive rally over the past week as investors think it will benefit from the $2 trillion infrastructure bill, as well as a potential Green New Deal.

But the stock may have become overextended.

The red line on the following chart marks two standard deviations above its recent 20-day average price. Shares are trading above this threshold.

These overbought conditions will draw sellers into the market as they will expect a reversion to the average. This could put a top on the shares and it could even push them lower.

NIO Inc.(NYSE:NIO) has formed a classic descending triangle pattern, which has bearish implications.

Chart patterns are illustrations of the supply and demand dynamics occurring within a market. This pattern shows buyers of NIO have been complacent. At the same time, sellers are becoming more aggressive.

Since early March buyers have held firm at the $35 level. At the same time, sellers have been knocking the shares lower.

In mid-March, the lowest price sellers would accept for their shares was around $45. By early April it had dropped to $40. Now there are sellers willing to accept $35.

The combination of aggressive sellers and complacent buyers could drive the price lower.

Shares ofFisker Inc.(NYSE:FSR) have broken support and could continue to trend lower.

Support forms when there are a large number of buyers that are looking to pay the same price for shares of stock. In this case, it was the $14.75 level. It was clear support through December and January.

Now that level been has broken, which means the buyers who were willing to pay $14.75 have either finished or canceled their orders.

With this demand of the market, the stage is set for a further decline in the share price.

免责声明:本文观点仅代表作者个人观点,不构成本平台的投资建议,本平台不对文章信息准确性、完整性和及时性做出任何保证,亦不对因使用或信赖文章信息引发的任何损失承担责任。

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评论108

  • JPKS
    ·2021-04-19
    wow ok I see
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  • Pixiestars
    ·2021-04-18
    Expected that these stocks will trend down as most of the growth stocks are down.
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  • myanlee
    ·2021-04-18
    Long term strategy
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  • KHMT
    ·2021-04-18
    Xpeng okay to buy?
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  • gangan
    ·2021-04-18
    EV go up cmon
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  • 60d48e1
    ·2021-04-18
    Long nio
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    收起
    • Tchua
      And Tesla
      2021-04-21
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  • Kt18
    ·2021-04-18
    Tesla still the leader in EV technology 
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  • Miracle99
    ·2021-04-18
    Long for Tesla!
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  • UTOtrader
    ·2021-04-18
    $$$$$Sell$$$$$ n$$$$$ profit$$$$$ like n comment back for $$$$$
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  • matcha_latte
    ·2021-04-18
    Great! Long for tesla
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  • wangwang93
    ·2021-04-18
    Naise
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    收起
  • WuM
    ·2021-04-18
    Comment and like pls!
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    收起
    • ZEROHERO
      Done
      2021-04-18
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  • Tetemoola
    ·2021-04-18
    Tesla to hold..
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  • Tetemoola
    ·2021-04-18
    Tesla to hold..
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  • jerwy
    ·2021-04-18
    tragic
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  • stardice
    ·2021-04-18
    Buy or no buy.. Pls help like n comment.. Thanks :) 
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  • thammada
    ·2021-04-18
    [Sad] 
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  • Ray140101
    ·2021-04-18
    👍
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  • Ipster
    ·2021-04-18
    Comment and like please 
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    收起
  • Hphau
    ·2021-04-18
    Still buying into NIO
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