ASX:NVX Novonix Limited, a company specializing in advanced battery materials and technology, has recently received a significant boost with its strategic partnership & off-take agreement with Panasonic Energy.
The supply deal with Panasonic signals a strong vote of confidence in Novonix's synthetic graphite technology, which boasts superior performance...
NVX Limited is also at the top of my buying list for the next few months. On a monthly basis, the price has stabilized and should definitely go up from the low. Even though this company is causing a lot of movement, the recommendation is on a monthly basis, so hold, hold, hold until the ATH.
💎The price has come to a confluence of a trend line with the fib ratio of 0.618. The only wait is for some kind of bullish candle.
💎 The downward trend is the correction of a larger degree of wave 1. wave 2 could go further down.
🚩30ma has act as a downward trendline showing a bearish scenario if the price breaks the trendline.
Battery tech company had a huge run up then big correction as many things have...looks like a decent opportunity here...can't see something like this dying anytime soon.
The next critical support is at $1.02 around. We will see for the potential bounce from that support level. It has completed wave 4 with a flat pattern and heading towards to complete its wave 5 impulse.
as you see another head and shoulder has been made after a head and shoulder earlier this year and second one is ready to break down
let see how it goes if it breaks down probably will reach $1 per share and best price for long term holding.
It seems Biden is betting big on EVs. Because he is spraying the US oil reserve (to hold Crude prices due to inflation) and granting EVs and green energy in many ways. And $NVX, $SYR, $PPL are granted ones. The $NVC chart attracted me more. I bet it will go up far.
Formation of nice double bottom at the last critical support. Followed by the decent volume when formation of this pattern.
RSI divergence occurred and bullish momentum on the macd.
*not a trading tips.
for those looking for a great opportunity this downtrend has been clearly broken and made a fresh opportunity to reach first $7 in short term then long term maybe $12.
would like to see NVX come back and backtest the 2020 year high in blue,.
I will be looking for a retest and reversal at this level. At present it may be another liquidity hunt of lower timeframes.
Below and hold below 2020 year high and im not interested.
Multiple test on 100MA at 4HR forming a wedge/flag consolidation.
Daily multiple test on and hugging relatively tight on 50MA
Fundamentals have not changed regardless of macro-events.
Alternative scenario: the downside breakout of 9.20 would call for 7.10.
My pivot point stands at 8.20.
My preference: the upside prevails as long as 0.20 is support.
Comment:
the RSI is above its neutrality area at 50.
The MACD is positive and above its signal line.
The configuration is positive.
Moreover, the stock is trading above both its 20 and 50 day...
NVX recovering nicely after its recent dump. Don't forget this share is still up a massive 780% for the year, after its pull back.
Worth keeping an eye on.
Shorting on the break of the trend-line and although this stock is one of the clear stand out performers I think there may be a bit too much selling form a technical perspective to hold it up - $10.00 seems like a natural place to take profits after an extended run as well
