What's going on moon gang, i hope you're having a phenomenal day, because i know i definitely am. The stock market is putting a huge smile on my face. My name is matt and boy. Do i have an exciting video for you today i'll be addressing some recent short seller drama that has accused me and other youtubers of paid stock promotion i'll be discussing a recent announcement that relates to both lordstown motors and workhorse and, most importantly, i'll, be doing a Breakdown of workhorses stock chart because it just had a massive technical breakout which could potentially lead to a new all-time high, but before i get into all of that, if you enjoy this type of content, you should consider joining the moon gang by subscribing to the channel.

My goal is to hit 5 000 subscribers by the end of this year and your help with that would be truly appreciated and if you're feeling extra generous dropping a like, would also be super helpful. I would love to know your thoughts on workhorse stock. In a comment below, i will be responding to all of you now with that out of the way, let's get started, let's kick things off with the hot gossip on october, 8th fuzzy, panda research came out with a short thesis, slash hit piece on workhorse. Not only does it look like a high schooler made it, but there are numerous grammatical issues and it's riddled with things that are verifiably inaccurate.

The entire essence of it is pretty unprofessional, which you know is exactly who you should be taking your stock advice from. If you want to check it out yourself, it can easily be found with a google search. Honestly, i find this report to be a little flattering. If you go to page 19, you'll see that they're, accusing me mat cores of being paid off by workhorse to promote their stock.

I want to make this perfectly clear: i've never been paid by workhorse or any other company to promote their stock. I mean think about it. I have less than 3 000 subscribers. It's not like.

I have much power or influence in fact i'll be lucky. If youtube pays me five dollars for posting this video, you might be thinking that maybe i'm just too small and that there are other bigger youtubers who are paid for a legal stock promotion. Jack spencer is the largest youtuber who continually talks about workhorse, and he already fully debunked this in a video, and i would highly recommend checking that out and if you don't want to take the time to dive into the short thesis report, you should know that within A couple hours the market shrugged off the allegations from the short sellers report and that's essentially because fuzzy panda's report was bogus. Obviously it's your money, so i would recommend doing your own research, but i honestly think that fuzzy panda short position is in serious trouble and in fact, as you'll see later in this video, i bet they're already sweating, but before we get into workhorses bullish breakout, you Should also know that lord sound motors merger, with the spak diamond peak, expected to be formalized on the 22nd of october diamond peak holdings, announced today that it has called a special meeting of its stockholders for october 22nd, 2020 to among other things, approved the proposed business Combination with diamond peak and lordstown motors court once this is finalized, lordstown will be trading under the ticker ride r-i-d-e and it's a big deal because ev spack plays are currently extremely hot, i'm personally a big fan of this company, because i think that their electric truck Looks pretty cool and so does the public because they already have two billion dollars worth of pre-orders.

This is wildly beneficial to workhorse, because workhorse has a 10 percent equity stake in lordstown motors and it will also be receiving a royalty on the first 200 000 vehicles sold. I'm expecting a lot of volatility in both of these stocks. The day before the day of and the day after the merger, before we break down workhorse, i thought it could be useful to take a quick look at lordstown motors since the merger hasn't gone through. Yet it's still trading under diamond peak holdings, which has the ticker dphc.

The stock is currently just above three dollars and it had a nice thirteen percent gain today over the past one week, it's down one percent over the past month. It's up almost ten percent over the past three months, it's up 122 and over the past six months and year to date it's up roughly 130 percent. From a technical perspective, the stock is in a bullish wedge. We have three higher lows and two lower highs, and it looks like the stock recently bounced off of this trend line.

If this bounce were to continue, i would pay attention to how the stock reacts to the previous support at 25. If the bulk camp manages to push the stock above this, it would then be on its way to testing the previous high at 28, which could also mark a new higher high. This would be a shift in the overall technical structure and it would definitely favor the bulls above that we would then pay attention to 30 and above that we would have the all-time high just below 32. For those of you interested, the first resistance would be a gain of 8 and the all-time high would be 37 percent away, but on the other hand, if this ends up becoming a fake out, there is quite a bit of support close by.

We have this blue trend line around 22 dollars. Then we have this previous low around 20 and there's also this previous resistance at 19.75. I don't think it's likely because of the excitement surrounding the merger, but if the bears pushed the stock below this, you could always watch this previous low at 18.50. In my personal opinion, i think that dphc is on its way to 25.

If it gets rejected there, it could return to the blue trend line, but if it breaks out, we would then be heading for a new higher high at 28. Now, on to the star of the show workhorse this stock trades under the ticker wkhs, and it also had a phenomenal day when it closed, it was up almost 13, and this means in the month of october, it's finally positive by almost 6 percent. For those of you keeping score over the past week, it's up 12 percent over the past month, it's up 18 and over the past three months. It's up 72 percent similar to lordstown workhorse, was in this bullish wedge.

Where was making higher lows and lower highs, but that all changed today when the stock broke out above the previous high at the psychological level of 25? The reason i've been smiling all day is because, if you watch my previous workhorse video, you know that i bought more shares around 23 and my first purchase of workhorse came here around 17. I am up a decent percentage, but i won't be selling anytime soon, because when you consider the usps contract and what that could do to short sellers, this stock could clear, 50, maybe even 60 dollars as an investor. The next thing i'll be watching for is for the stock to get above this previous high at 28.62. If that were to happen, i would feel extremely confident that we would be on our way to testing the all-time high at 31..

From the most recent close, the first resistance would be a gain of 7, and the all-time high would be a gain of 16. If the stock gets rejected at either of these levels, i would look for a new low to be formed that is staying with this pattern of higher lows and that could potentially come at this trend line. If this trend line were to be broken, my current plan is to take some profits at this resistance of 25 and then, if that's broken, i would sell all of my shares at the previous resistance of 22.. To be clear, though, that's just my trading plan, nothing going on right now from a fundamental or technical perspective is telling me to pull the rip cord.

In fact, most things are bullish within the immediate future. I'm expecting workhorse to test the next resistance at 28 and i would in no way be surprised if we're testing the all-time high by the end of october. This prediction could easily be sped up by the usps contract announcement. Many investors and analysts are expecting to hear about the usps contract by the end of this year, but no one knows the date for sure.

I promise to keep all of you updated with any announcements related to workhorse. What's going on with the stock from a technical perspective and what i'm doing with my shares of the company, if you don't want to miss out, make sure you have your notifications turned on to sum things up, fuzzy boots or panda or whatever they're called, doesn't seem To know what they're talking about parts of their short thesis are verifiably wrong and i am definitely not paid to promote workhorse or any other stock. I honestly think that this short position could lose them a lot of money. Lord sounds: merger is set to be finalized on october 22nd.

This is a huge milestone for the company and will be a massive benefit to workhorse when everything goes through. Lordstown will trade under the ticker ride, r-i-d-e and finally, to the delight of many investors. Workhorse just had a technical breakout in the short to medium term. I think that this could lead to a test of the all-time high and in the long term, i am bullish on workhorse, because i think it's a solid company in a great industry, and on top of that, i think it could win a large portion of the Usps contract, but with all that being said, everything expressed in this video are my own opinions and i'm not a financial advisor, so make sure to do your own research, and you should know that investing in any stock comes with risk.

I would love to know your thoughts on workhorse stock and comment below and also feel free to post any suggestions or recommendations for what i should cover. Next, if you like my charting software and you want a free 30-day trial, there's a link in the description of this video and there's also links for both robinhood and weibo. If you sign up both you and i get free stocks, if you enjoyed this video - and you want to support my efforts in making more, there are a few things you could do to help me out. You could drop a like leave a comment and join the moon gang by subscribing to the channel all that engagement really helps with the youtube algorithm and getting this video in front of other people thanks for watching and until next time.

Best of luck in the markets, you.