barrymeindrinks

Wyckoff Accumulation in HYLN

Long
NYSE:HYLN   Hyliion Holdings Corp.
Biden's signing of the Electric Vehicle executive order may be a tailwind for HYLN (Hyliion), the Texas-based company producing EV motors and retrofitting hybrid systems for long-haul trucking fleets. Add to that the proposed I-14 expansion between Texas and Georgia and the electric vehicle charging stations included in the current Infrastructure Bill going through congress, I believe there is a buying opportunity here of which many hedge funds and institutional investors are already aware. This accumulation is happening already, with 13F filings on whalewisdom.com showing that since 7/26, HFs have initiated new positions to the tune of roughly 800K shares long, and those already with positions have increased their holdings by over 1.25m shares in the same time period. This can be seen on the chart as well, with this classic Wyckoff Accumulation pattern playing out nicely. Add in a heavy amount of short interest, and upcoming earnings, and this stock could really make a move on positive PR.

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