Switchback plans to close on its merger with ChargePoint in early 2021.
ChargePoint is rapidly growing its charging station network in the U.S. and expanding in Europe.
It expects sales of its charging ports to grow by seven times through 2026.
But investors drove shares up beyond what is reasonable.
Even after today's drop, the combined company would be valued...
I have a solution. Use the moving average 50 period low.
Check the 4h chart on US30.
Insert a 50 period moving average low.
Insert support and resistance lines.
You will notice a couple of things, at the end of the last equity rally, it was profitable to short the market EVERY TIME once the price CLOSED below the 50MA. In other words you couldn't go wrong...
