BREAKOUT STOCK ALERT UPDATE
$RMO - Romeo Power, Inc. Class A Common Stock
Initial Alert Price: $18.53
Price High: $14.06
% Gains/Losses: -24.12%
(-48.93% Less Than Expected)
Potential Stop Loss: $13.357
RMO is currently being weighed down by TSLA which is bringing the entire EV Market down with it's current pullback. TSLA is currently priced at $735 Price Levels after retracing from the $860-$880 Price Ranges over the course of the last week. We expecting TSLA to potentially continue on a downward to retest support around $719 and $680 Price Ranges at it's lowest before showing signals of a reversal based on current moment. With that being said, we're expecting the same for all other EV Stocks and Plays to experience the same downward trend over the next few weeks potential.
In regards to RMO, we still hold our confidence strong in this stock retesting the $24 Price Levels and look at this strong dip as an opportunity to identify some better entry levels and positions into the stock for a longer-term hold, although it's current 13% below our 10% Threshold. We also believe we can make up for the short-term losses with other opportunities in order to give this stock the adequate to retrace back to the upside to retest those $24 Levels of Resistance.
We don't typically conduct this type of trade, but the downward turn of the EV Market was not foreseen, but this explains why we always suggest a 5% Suggested Stop Loss and 10% Threshold for members of the community who can not or wish not to wait out the downward direction of the EV Market to recover.
We will be sure to continue providing any updates on new potential entries into the stock as "New Trade Alerts" in order to track the trades occurring. #Breakout #Stocks #Trading #Investing #Alerts #StockMarket #Daily #News #Today
$RMO - Romeo Power, Inc. Class A Common Stock
Initial Alert Price: $18.53
Price High: $14.06
% Gains/Losses: -24.12%
(-48.93% Less Than Expected)
Potential Stop Loss: $13.357
RMO is currently being weighed down by TSLA which is bringing the entire EV Market down with it's current pullback. TSLA is currently priced at $735 Price Levels after retracing from the $860-$880 Price Ranges over the course of the last week. We expecting TSLA to potentially continue on a downward to retest support around $719 and $680 Price Ranges at it's lowest before showing signals of a reversal based on current moment. With that being said, we're expecting the same for all other EV Stocks and Plays to experience the same downward trend over the next few weeks potential.
In regards to RMO, we still hold our confidence strong in this stock retesting the $24 Price Levels and look at this strong dip as an opportunity to identify some better entry levels and positions into the stock for a longer-term hold, although it's current 13% below our 10% Threshold. We also believe we can make up for the short-term losses with other opportunities in order to give this stock the adequate to retrace back to the upside to retest those $24 Levels of Resistance.
We don't typically conduct this type of trade, but the downward turn of the EV Market was not foreseen, but this explains why we always suggest a 5% Suggested Stop Loss and 10% Threshold for members of the community who can not or wish not to wait out the downward direction of the EV Market to recover.
We will be sure to continue providing any updates on new potential entries into the stock as "New Trade Alerts" in order to track the trades occurring. #Breakout #Stocks #Trading #Investing #Alerts #StockMarket #Daily #News #Today
Tim Burks | Founder - MyMI Wallet
Empower your finances with our Personal Budgeting and Investment Forecasting Tools. Unlock your investment potential today at MyMI Wallet.
www.mymiwallet.com
Empower your finances with our Personal Budgeting and Investment Forecasting Tools. Unlock your investment potential today at MyMI Wallet.
www.mymiwallet.com
