What's going on moon gang, i hope you're having an awesome day. My name is matt and in this video i will be talking about the most exciting electric vehicle stock over the past month neo, i will be going over some of the recent news related to the company. I will be doing a technical breakdown of its stock and, at the end i will be sharing my personal thoughts on if this is a good investment or not. But before i get into all that, if you haven't already don't forget to join the moon gang by hitting the subscribe button, the community is a great way to share your own opinions and make better investment decisions.

Also, it would be great if you could drop a like, because it really helps with getting this video in front of other people who may be interested and now that i got that out of the way, let's roll the tape. So the big electric vehicle news of the day is that neostock hit a new all-time high evmaker neo stock soars after record delivery. Fulfillment chinese electric vehicle maker neil's engine is revved up. The shanghai-based company's stock price is climbing, on monday november, 2nd after an announcement about the delivery of its vehicles.

Wall street is reacting to neos news that had delivered over 5 000 electric vehicles in october, a new month record, which showed 1 000 year-over-year growth. In terms of the bigger picture, neo has now delivered more than 31 000 vehicles in the year 2020, and when you compare that to 2019, it's more than 100 growth with this type of growth, it's not that crazy to think that neo could have 10 times the Market cap within the next decade, moving forward, the next big update from the company will come in mid-november neo announced today that it will report its third quarter. Financial result on november 17th. Make sure you have your calendars marked, because the way things are going, i'm definitely expecting a bullish reaction.

Neo trades under the ticker nio and its new all-time high is just below 35. When the market closed. For the day it was sitting at 33, which was a gain of almost 9. As you can see from the volume there was quite a bit of action today.

The average volume over the past 10 days has been 114 million shares and today's volume was 263 million. Clearly, people were pretty excited about the new high. This seems to be pretty much par for the course over the past month. Neo is up 57 over the past three months, it's up 144 and from the start of the year.

Until now, it's up an incredible 728 percent as a quick word of caution. Yes, these numbers are impressive, but don't forget that neo is a speculative play from 2016 until 2019 it was losing money, and the same is true so far in 2020 for the first two quarters - and i don't think much will change in the third quarter now, i'm Not saying to don't invest that is completely up to you, but you should understand that these type of returns come with a considerable amount of risk. Now, let's take a quick peek at what neo's been doing over the past couple months. As you can see, neo has been in a pattern of making a new high, consolidating new high, consolidating new high consolidating and then another new high.

I hope that this pattern continues because i've yet to invest in neo and i'm looking for the perfect opportunity to strike back when neo made this high. On october 16th, i made a video related to the company, and i mentioned that i would be interested in investing around 23 to 24. Obviously that didn't happen, so i've just been sitting on my hands and i still don't have any shares of neo. I understand that it is extremely difficult to time the market, because there is quite a bit of luck involved and i also understand the argument that, if you're a long-term investor there's not much of a point to it, because you could just cost average over many months With that being said, though, i fully agree, but also one of my personal training rules is to not invest at an all-time high.

My personal trading philosophy is to find companies that i believe in and then invest at levels of support and then hold those shares for years to come. Obviously, i'm not a robot, so i do make mistakes, but i also attempt to stick to my trading plan and my current plan moving forward is to invest at a level of support. As of the most recent close, the closest support would be at 29.40, which is the previous high, and that would be a decline of 11 below that we have the previous low, which would be a decline of 23 and below that we have 22.5, which would be A decline of 32, this last one is more of a reach goal, and i think that these first two are much more likely. There is a chance that i could miss the boat and the stock could keep shooting up, especially if the next earnings report is a good one, but i think that there's a decent chance of a small pullback and some consolidation, especially when you look at the rsi.

This is by no means a perfect indicator, but when the value is above 70, that commonly means the stock is overbought in a short term view the last two times that this happened, the stock made a new all-time high, and after that there were periods of consolidation. Personally, i'm hoping that that happens again, so i have the opportunity to hop on the rocket ship and ride it all the way to the moon. Jp morgan currently has a price target of 40 dollars, which would be a gain of 20 percent. But i personally see neo hitting 50 as early as next year, because its delivery growth is that impressive.

And when you consider a bigger time frame and look at the growth of the ev sector as a whole, i think it's pretty reasonable that neo will be in the hundreds of dollars by the end of the decade. If you're a swing trader, i would recommend paying close attention to the levels of support and resistance and trade accordingly and if you're, an investor, i personally don't like buying shares at all-time highs, but you could always cost average as more time passes. To put it simply, i think that neo stock will be much higher years down the road than it is right. Now i'm very bullish on the company because it offers a desirable product in the rapidly growing ev sector, and on top of that, it is positioned to absolutely dominate the chinese market, which has a huge consumer base and in the short term, it's very difficult to predict.

What neo stock will do, but in certain ways you could consider it to be hedge against american ev companies and it's never a bad idea to add a little diversity, especially with the current market volatility. With that being said, though, these are my own opinions, so make sure to do your own research, i'd love to know your thoughts on neostock in a comment below. Do you think that it's an excellent investment, or do you think i'm overlooking something? I truly appreciate you taking the time to watch this entire video. Your support means a lot to me.

If you enjoyed this video, don't forget to drop a like, and if you haven't already don't forget, to join the moon gang by hitting the subscribe button. If you're interested in the charting software that i use there's a link to a free 30-day trial in the description of this video thanks for watching and until next time best of luck in the markets, you.