The eevee sector has been growing rapidly in popularity, which has made it a bit of a hot topic in the stock market world because of this increased interest, i thought it could be useful for me to switch things up a bit and do a technical breakdown of Some of the most exciting and top performing ev stocks. What is going on moon gang, i hope, you're having a great day. My name is matt and in this video i will be going over a technical analysis of tesla, workhorse and lordstown motors. So you have a better idea of what to watch for in the immediate future.

I will also briefly be discussing any upcoming catalyst that could prompt some volatile moves before we get rocking. If you enjoy this type of stock market content - and you want to be a member of the moon gang subscribe to the channel and don't forget to turn on your notifications - also feel free to. Let me know your thoughts on tesla, workhorse, lordstown motors or really any other eevee company, because i really enjoy engaging with all of you and i've been learning a ton with that out of the way, let's get started. Tesla is the premier electric vehicle maker, not only in the us, but in the entire world.

The company recently had their battery day event and the stock market did not react too kindly to it. The day after the event, tesla's stock fell by more than 10 percent. I described why this happened in greater detail in the video on the top of the screen now, but, to sum it up briefly, it was because of missed expectations. Nothing announced at the event will benefit tesla's bottom line in the immediate future.

Everything discussed was cool and interesting, but it won't come to fruition in at least three years. The next catalyst for tesla is the company's upcoming earnings report, which is on october 27th. I will also be watching to see if tesla is included in the s p 500. It was recently snubbed from induction, which surprised many people, including myself at the time that i'm making this video tesla, which trades under the ticker tsla, is at 387.

This means that, since the start of the year until now, the stock is up an incredible 382 percent, but for the month of september, tesla stock isn't doing the best. In fact, it's actually down 22, which is bearish territory, but keep in mind that, since its five for one stock split was announced back on august 11th, the stock is up a noteworthy 42. The stock just bounced off of the 360 dollar area, where it found support at this blue trend line that was established in early august and also this white line, which is the 50-day moving average in terms of support. If this bounce doesn't hold and we break below this trend line, i would then be paying close attention to the 330s.

This region was established by the resistance in july and the low in september. If the bull camp doesn't make a stand in this region, i would then be paying attention to the psychological level of 300, which has also been an area of high consolidation and below. That would be this support of 273 in terms of resistance. If the stock can break out above this orange line, which is the 10-day moving average, i would then be watching the recent high of 462, and then this would set up the all-time high just above 500., based on the most recent close.

The first region of support would be a decline of 14 percent, and the first resistance area would be a gain of almost 19 percent. Here is a look at tesla's 4-hour chart, so we can get a more granular idea of what to expect in the coming days. We can see that there is a short-term support around 460, but there is also a short-term resistance around 433. If this recent bounce holds, i think, there's an extremely good chance.

We come back up and test this area of consolidation and, of course, if we break out above that, we will most likely test the all-time high at 500, but on the other hand, if this bounce doesn't hold and we fall below this blue line, there is a High likelihood we come down to this 330 region and if the bears push the market below that, we can most likely say hello to 300. Based on the severity of the recent decline. I am currently favoring the bull case, but if you're a swing trader, make sure you're being incredibly nimble with your trades next up is the fan favorite workhorse. They make electric vans for last mile delivery and their big upcoming catalyst is the usps contract.

They are one of three finalists for this 165 000 vehicle contract that could be priced anywhere from 6.3 billion dollars all the way up to 20 billion. I personally believe that workhorse is in a very good position to win this contract or most likely a very large portion of it, and if this becomes reality, its stock would skyrocket, workhorse trades into the ticker wkhs, and the stock is currently at 22 from june. Until the most recent close, the stock is up a truly mind-blowing 800 percent from its all-time high. Until now, workhorse is down 28, but to give that a little bit of perspective from the breakout until now, it is up 29.

As things currently stand, i would recommend watching between 20 dollars and 19 for support. This region has previously served as resistance, and it's now aligning with the 50-day moving average and in terms of resistance. I will personally be watching this previous resistance of 24.. I will be watching to see how the stock reacts to this 10-day moving average and, of course we have the all-time high at 31..

This is a look at workhorses for our chart, so we can get a more detailed understanding of what's going on. The only other thing i would really add is this support just below 22, because the stock has caught itself here on three separate occasions. If i'm being honest, i'm not expecting these technical levels to have relevance much longer, because the usps contract is expected to be announced by the end of september. This is obviously a government contract and september is the end of the government's fiscal year.

As i said before, workhorse is extremely well positioned to win a large portion of this contract and, if they do, the stock could easily sail past 50 dollars because of a massive boost to the company's revenue and a short squeeze. And finally, you can't talk about workhorse without mentioning lordstown motors lordstown makes these electric trucks called the endurance, and there is a lot of excitement about their product. It was just reported that lordstown has confirmed it received 40 000 pre-orders for the endurance. This is roughly equivalent to two billion dollars and the company is expected to start deliveries in late summer of 2021..

These are pretty great numbers, but the company has an even earlier catalyst. Lordstown was part of a spec deal with diamond peak holdings. Lordstown is entered into a definitive merger agreement and the combined company will trade under ride. The transaction is expected to close in the fourth quarter of 2020..

Previously, we've seen some pretty volatile upswings with spec deals, especially in the ev sector, and this will be massively beneficial to workhorse, because workhorse actually owns 10 of lordstown motors and will be receiving a royalty on the first 200 000. Trucks sold at the time that i'm making this video lordstown is still trading under diamond peak holdings, which has a ticker of dphc. The stock is currently at 22., and since the merger was announced, it is up 87, but from its all-time high. It is down a considerable 30, as things currently stand, i will personally be watching to see how the stock reacts to the previous high of 1975, and if it's pushed below that, i would then be looking for 16, which also aligns with this 50-day moving average.

If the stock reverses course and bounces from here, the first region, i would be paying attention to, would be this orange line, which is the 10 day moving average. If the bull camp pushes the stock. Above that, i would be paying attention to the psychological level of 30 dollars, which is also previously served as resistance and, above that we have the all-time high just below 32 dollars. When we switch to the 4-hour chart, we can actually see that there is an additional resistance at 25, which makes sense because it is a key psychological level similar to workhorse.

I'm not expecting these technical levels to hold once the merger goes through, because if the pass is any indicator there will be a lot of excitement which will most likely prompt a bullish upswing. As these charts develop and the catalyst become reality, i will make sure to keep you updated with the new levels of support and resistance. As a quick side note, you can always use the s p 500, as a barometer of sorts. It's fairly common for a sector such as ev to move in the same general direction as the overall market.

Obviously they don't have to be in lockstep, but it can give you a better understanding of what's going on in a general sense in the short term, i'm expecting a lot of volatility in all of these stocks. These investments are in no way for the faint of heart they are speculative plays, which means they come with high risk and high reward. Please, please don't forget about that high risk aspect, but for more of a long-term view, i'm personally bullish on all three of these companies, tesla workhorse and lordstown motors. As things develop, i would recommend paying close attention to tesla because it seems to be setting the tone for the entire ev sector.

I'm also specifically excited about lordstown motors, because i think there will be a lot of fireworks when the merger goes through. But with that being said, i'm not a financial advisor, and these are just my personal opinions, so make sure to do your own research. I would love to know your thoughts on these companies and other eevee stocks in a comment below thanks for making it to this point in the video. Your support truly means a lot to me if you enjoyed this style of video and want me to make more.

Let me know by hitting the like button, i would be more than happy to include other ev companies such as neo and hylion, and if you want to join the moon gang subscribe to the channel and don't forget to turn on your notifications, if you're looking for A group of people who talk about this type of stuff on a daily basis, i would recommend smd trading, there's a link in the description below thanks for watching and until next time. Best of luck in the markets. You.