Narsty_Boy

Has HYLN finally finished its bear market?

NYSE:HYLN   Hyliion Holdings Corp.
After passing along below the convergence point (where the 3 angled lines meet), testing the sub-$8 level 3 times finally fell momentarily below the $7 mark. In a simple view, this means that the floor has been broken and capitulation has occurred. We have now passed through 2 of the 3 converging lines. The remaining line represents the strongest psychological direction and will be the hardest to break. This could take many months to happen. I predict the truckers will be a hard to demographic to grow interest in electric vehicles. Therefore I think that upward price movements are far more dependent on legislation pushing companies that are resistant into the EV space.

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.