Quill,
You like EVs and their associated peripherals. CRGE turned up in a scan I ran on the 978 stocks priced $0.25 to $3 that trade with an avg vol greater than 50k on the three major exchanges. SWS likes the company. The chart is sketchy, but tolerable. I have no idea why the price jump Fri. But that would need to be looked into.
A quick look from my perspective:
It’s an interesting daily chart. The striking thing is the obvious double bottom. But it’s a low bottom and that is always a bit spooky. I quickly threw some potential resistance areas on the chart, with the key level being the buck-seventy level. Interestingly, the weekly chart also has a relatively nice channel with similar resistance.
The relative strength of CRGE to SPY and it’s sector XLC sucks. The AD is flat (see first chart). According to ROIC.AI, it is 16% institutionally held and 56.5% insider held. Nothing reported by ROIC in regards to breaking stories so hard to say why the larger candles but they were with good volume. Although, volume is relative and average is only 0.44M. Liquidity could be your hurdle if there is some breaking news.
I tend to be more of a base-hitter and this feels more like a swing for the fences, but at discount prices. It could be a good target for scaling in. Small position now, add if it breaks 1.6-1.7 resistance zone and more if it breaks 1.9. Potential targets would be 2.5 and 3, or higher for the homer if that’s the way you swing. Pun intended. As a long-term hold, I’d need some good information to suggest this is more than just a small wave. None of this is a recommendation, this is quick look thoughts. I’m not playing, but might do some more looking to make a real decision.
Just my thoughts. Hope this isn’t an intrusion and side-tracking your intended discussion Arindam.
Lakedog
Lake,
Your charts and perceptive comments aren’t an intrusion at all. Just the opposite.
You provide enough detail and evidence that others can work through your process and decide for themselves whether such an approach might be something they want to explore. Kudos to you for taking the time to do your write up.
SWN’s chart is much more timely than CRGE.
And Simply Wall Street likes it, but with a warning.
Arindam
Nice charts, but I need to know where the starting gate is.
I run my Stockcharts scanning tools for the TSI. When the Green line crosses up and over the red line heading north is a confirmation signal and generally the prices head north. Almost out of the Gate signal.
Our job is to teach the new Grasshoppers how to make money the olde fashion way. They earn in.
Heck, my 9th grade students are doing better than this GOAT.
Chicken scratch ( uggggly to some folks) marks make money. I use to buy 10 more shares every time I see a GREEN OHLC line until the finish line. It was to much work, so stopped that practice.
EVGO - Last trade in on 12/30/22
out on 2/3/23 for a nice 77.8075 per cent profit. Zero losses.
