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BLNK
Charging is an electric vehicle infrastructure company based in Florida. Blink Charging owns and operates an electric vehicle (EV) charging network and offers related services. It also operates its proprietary cloud service Blink Network accessible via a dedicated mobile application. Blink has recently entered an agreement with Lion Electric - who are making electric school busses - meaning Blink will offer its full line of charging stations to the school systems and bus fleets that utilize the company's all-electric school buses. However, CEO Michael Farkas recently sold 540,000 shares of common stock at just $41 each causing the price to tumble. Blinks revenue doubled last year compared to the year previous. Despite $4.5 million in trailing revenue, it is fetching a market cap of nearly $2 billion, a whopping 435 times its top line. This will scare some investors, but on the other hand, puts Blink in a good position to use this capital to acquire other companies. If 2020 was anything to go by, this stock is subject to volatile swings, in both directions.
📈 BLNK is currently 25% down from its all time highs. Price has been trading in a bullish price channel since early December last year. Price has recently completed a 0.5-0.618 Fibonacci retracement from its 5th Jan wing low and 2th Jan swing high, highlighted by the blue box. This event has also coincided with a touch of the supporting price channel. Price is also supported by the 50 MA. Furthermore, yesterday's 4H candle close was a gravestone doji, a reversal candlestick. Price on lower time frames (1H) is still bearish, so one should wait for a clear candle that shows sign of price strength. Low risk, high reward but the stock in the past has been volatile.
🔎This is not financial advice. Always do your own research and due diligence. Always wait for directional confirmation before entering a trade.
BLNK
Charging is an electric vehicle infrastructure company based in Florida. Blink Charging owns and operates an electric vehicle (EV) charging network and offers related services. It also operates its proprietary cloud service Blink Network accessible via a dedicated mobile application. Blink has recently entered an agreement with Lion Electric - who are making electric school busses - meaning Blink will offer its full line of charging stations to the school systems and bus fleets that utilize the company's all-electric school buses. However, CEO Michael Farkas recently sold 540,000 shares of common stock at just $41 each causing the price to tumble. Blinks revenue doubled last year compared to the year previous. Despite $4.5 million in trailing revenue, it is fetching a market cap of nearly $2 billion, a whopping 435 times its top line. This will scare some investors, but on the other hand, puts Blink in a good position to use this capital to acquire other companies. If 2020 was anything to go by, this stock is subject to volatile swings, in both directions. 📈 BLNK is currently 25% down from its all time highs. Price has been trading in a bullish price channel since early December last year. Price has recently completed a 0.5-0.618 Fibonacci retracement from its 5th Jan wing low and 2th Jan swing high, highlighted by the blue box. This event has also coincided with a touch of the supporting price channel. Price is also supported by the 50 MA. Furthermore, yesterday's 4H candle close was a gravestone doji, a reversal candlestick. Price on lower time frames (1H) is still bearish, so one should wait for a clear candle that shows sign of price strength. Low risk, high reward but the stock in the past has been volatile.
🔎This is not financial advice. Always do your own research and due diligence. Always wait for directional confirmation before entering a trade.