CLNE Tech Analysis via /r/wallstreetbets #stocks #wallstreetbets #investing


CLNE Tech Analysis

Hi,

Credit goes to Nrdrage for this one. He made it pop up on my radar.

Momentum has changed to the upside for CLNE

On the chart as you can see, the two pink lines from a resistance channel. When the market closes the day above the resistance channel, the market momentum tends to change. The other lines help me track the wave count but the most important is the Pink resistance channel. Here are examples of what usually happens once the channel breaks. The break occurred on April 26, entry would have been next day @ 11.16.

Good old GME

Break occurred April 23, Entry would have been next day somewhere around 152.30.

MVIS

MVIS broke on April 21, entry would have been next day around 13.75.

BTX

BTX broke the channel on April 20, entry would be next day around 9.48.

Keep in mind the opposite is true, if the price breaks below the pink channel you should be getting out of the position. However realistically you would take profit before it gets close to the channel.

CLNE popped up on my radar late however, since the price is still hovering near the entry, its still a good entry.

Submitted May 01, 2021 at 01:30AM by No-Midnight-9559
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