PSNY a niche EV manufacturer penny stock LONG
PSNY has seen a price rise of 30 % in the past month. This specialty EV manufacturer
does not compete with TSLA but only perhaps ARVL also based in the UK.
The 2H chart is quite healthy. Price broke out above the mean VWAP anchored to the beginning
of the year on July 3rd and is now approaching one standard deviation above that. The MTF
RSI shows both the one hour and daily RSIs crossed over 50 the same day. On the MACD
indicator the K and D lines crossed confluent with the horizontal zero line. Signs of bullish
momentum found, I will take a long trade targeting 25% of upside at $6.00 which is the double
top on January 31/ Feb 1 as well as three standard deviations above the mean aVWAP.
does not compete with TSLA but only perhaps ARVL also based in the UK.
The 2H chart is quite healthy. Price broke out above the mean VWAP anchored to the beginning
of the year on July 3rd and is now approaching one standard deviation above that. The MTF
RSI shows both the one hour and daily RSIs crossed over 50 the same day. On the MACD
indicator the K and D lines crossed confluent with the horizontal zero line. Signs of bullish
momentum found, I will take a long trade targeting 25% of upside at $6.00 which is the double
top on January 31/ Feb 1 as well as three standard deviations above the mean aVWAP.
Trade active:
Decent price movement today so stop loss raised to break-even.