So... the stock bounced back in my sights and was actually one of the first ones that i meddled with. Although, after a quick in and out in October I forgot about it.
I will not bother you with the fundamentals, but just make a small list:
• Lamborghini – This company takes the crypto profits
And that is just the vehicle business.
Technicals are like this.. You take into acount the stuff after the fundamentally massive diesel scandal.
If you connect the historical higher low levels as a support and the recent high with the high of the first session after the drop, which was caused by the diesel scandal, one gets a massive scale channel up pattern. (Yellow lines, zoom out)
Since September the stock has surged in a medium sale ascending pattern, which reached the upper of the dominant pattern. (Blue lines)
After the rebound I started speculating, where the new medium term trend might be located. That is why you can observe the blue channel down pattern. However, its resistance for now is purely speculative from my side.
The purple lines represent the most junior pattern that can be properly observed on the . It represents the decline of the stock price and its eventual finding of support. You can see that the price has not passed the resistance of that junior channel.
However, if the scenario occurs, and the stock resumes the surge properly, as it can be seen forecasted on the media today, we will see the people’s cart stock move higher until it reaches the speculated blue resistance.
Meanwhile, the support of the still active blue channel, which represented the surge that occurred since September (this sentence is the reason why we use charts to show not tell) will possibly keep the stock price up.
Look at how the stock is being scared away by the upper trend line of the purple trend even before approaching it. I think that it is due to the European stocks in general following the US trends.
From a technical perspective - European stocks aren't that strong.
From a fundamental perspective - European large players, aren't going to do anything before seing what the big money in the US does during its session.
So the moves are up and down and with much lower volatility.