One favored combination of this type which also looks to fit in well with our expectations of what’s possible for WKHS stock going forward over the next few months is the October $17/$23 collar combination. The investor’s stock and short call are cashed out automatically for a quicker and maximized profit, while keeping a free bearish long put left in inventory as a side bet. Also a benefit, any potential short contract exercise surprises are fully-hedged by the long stock. This type of position ensures less downside risk and a much larger profit profile if a rally takes hold. To be fair, much of this month’s bullish candlestick reversal can be attributed to some covering of positions from WKHS stock’s bearish short interest, as well as wishful action from bulls on word of legal action by Workhorse against the USPS.Īcknowledging those riskier factors in shares, if investors are willing to take a forward-looking price chart at its bullish face value, my advice would be to use a slightly out-of-the-money collar. And today, with a deep and well-supported bottoming pattern revealing itself on today’s price chart (above), WKHS stock can also be wagered on with increased odds of winning. Given a much-lower $2.0 billion valuation and for the positive reasons expressed above, a meaningful comeback can be entertained. Remember that scant bit of revenue? The thing is WKHS isn’t just a concept, you can kick the tires of its fleet of C650 and C1000 today! The company also has a growing list of customers that’s already building on those sales and sufficient cash to see its way through today’s darkish-looking tunnel. (Nasdaq: WKHS) (Workhorse or the Company), an American technology company focused on providing sustainable and cost-effective. WKHS stock isn’t dead.įor starters, Workhorse has proven EV delivery vehicles on the road. But it’s also far from the end-all, say-all for Workhorse. Yet today, and with short interest in the vicinity of 37% to 40%, are those bears betting on the wrong pony? It’s quite possible.Īs InvestorPlace’s Louis Navellier recently opined, nobody is going to deny the USPS contract would have been a boon. Toss in broader, weak sentiment as Wall Street pivoted away from higher and no-multiple growth stocks during February and it’s little surprise Workhorse’s resident bear following managed to continue making hay into mid-May as shares hit a low of $7.07. Bulls eventually want to see a break above the $18 level.With the contract and its estimated 50,000 to 165,000 NGDV’s landing in the lap of Oshkosh (NYSE: OSK), WKHS’ peak market cap was immediately cut by more than half as shares plummeted 47% immediately after the disappointing news broke on Feb. Bulls are looking for higher lows inside the sideways channel pattern and work toward resistance. This shows that the stock has seen an increase in the amount of buyers, to the point where the amount of buying pressure almost equals the amount of selling pressure.īullish traders are looking to see the stock be able to reclaim the support level and start to trend higher. The Relative Strength Index (RSI) has been moving higher the past couple weeks and sits at 49.Decorate your laptops, water bottles, notebooks and windows. Each of these moving averages may hold as a potential area of resistance in the future. Unique Workhorse Stock stickers featuring millions of original designs created and sold by independent artists.The stock trades below both the 50-day moving average (green), and the 200-day moving average (blue), indicating the stock is likely facing a period of bearish sentiment.The $7 level once held as support, but as the stock is below the area now, it could hold as resistance. This area may continue to hold as resistance in the future. The $18 price level is an area where the stock has struggled to cross above in the past.
The stock looks to be trying to reclaim support after falling below it in what technical traders call a sideways channel. In this article I will analyze Workhorse Group (WKHS) and Electric Last Mile Solutions (ELMS) to see which commercial EV stock is a better buy.Workhorse was up 8.4% at $6.97 at the close Thursday. The stock looks to be attempting to recover a support level that was recently broken. The stock was trending on social media sites such as StockTwits Thursday. (NASDAQ:WKHS) shares rallied Thursday as the sector for EV car manufacturers saw a push higher.
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