ELECTRAMECCANICA VEHICLES CO (SOLO) Technical Analysis
NASDAQ:SOLO • CA2848492054
Current stock price
SOLO Technical Rating and Analysis
We assign a technical rating of 0 out of 10 to SOLO. SOLO scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.
- The short term trend is negative, as is the long term trend. There should be more interesting stocks out there.
- When comparing the yearly performance of all stocks, SOLO is a bad performer in the overall market: 96% of all stocks are doing better.
- SOLO is one of the lesser performing stocks in the Automobiles industry. 67% of 35 stocks in the same industry do better.
- SOLO is currently trading near the lower end of its 52 week range, which is not a good sign. The S&P500 Index is trading in the upper part of its 52 week range, so SOLO is lagging the market.
- In the last month SOLO has a been trading in the 0.20 - 0.26 range, which is quite wide. It is currently trading near the lows of this range.
- Prices have been falling strongly lately, it is better to avoid new long positions here.
SOLO Weekly and Daily overview Charts
SOLO Setup Rating and Analysis
The technical rating of SOLO is bad and it also does not present a quality setup at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
More info and screens
SOLO Support and Resistance Analysis
0.21
When analyzing the resistance we notice 5 important areas.
- A resistance zone ranging from 0.22 to 0.22. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 0.23 to 0.23. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Resistance @0.24 from a horizontal line in the daily time frame.
- Resistance @0.28 from a horizontal line in the daily time frame.
- Resistance @0.31 from a trend line in the weekly time frame.
SOLO Technical Indicator Signal Analysis
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | DOWN | NEGATIVE | The long term trend for SOLO is down. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for SOLO is down. |
| ChartMill Relative Strength | 4.98 | NEGATIVE | SOLO has a low relative strength, it was outperformed by 95.02% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of SOLO is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of SOLO is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of SOLO is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 32.31 | NEUTRAL | The RSI value for SOLO is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | NEGATIVE | The MACD value suggests SOLO has a negative trend. |
| Stochastics (14,3) | 32.46 | NEUTRAL | The Stochastics value for SOLO is a neutral value. |
| Average True Range in percent/ATR (20) | 6.66 | HIGH VOLATILITY | The high ATR as a percentage value for SOLO suggests high volalility. |
| Average Directional Index/ADX (14) | 36.81 | POSITIVE | The high ADX value value for SOLO suggests a strong trend. |
SOLO Chart- and CandleStick Pattern Analysis
SOLO Technicals: Chart, Performance Metrics, Trend & Indicators
0.2122
-0.01 (-3.55%)
ELECTRAMECCANICA VEHICLES CO / SOLO TA FAQ
What is the technical rating for SOLO stock?
ChartMill assigns a technical rating of 0 / 10 to SOLO.
What is the current trend direction of ELECTRAMECCANICA VEHICLES CO (SOLO) stock?
The current trend direction for ELECTRAMECCANICA VEHICLES CO (SOLO) is Bearish.
What is the RSI signal for SOLO stock?
ELECTRAMECCANICA VEHICLES CO (SOLO) has an RSI value of 32.3079. This indicates that the stock is currently neutral.
What is the short term momentum for SOLO stock?
The short term momentum for ELECTRAMECCANICA VEHICLES CO (SOLO) is negative.
What are the support and resistance levels for ELECTRAMECCANICA VEHICLES CO (SOLO) stock?
ELECTRAMECCANICA VEHICLES CO (SOLO) has a resistance level at 0.22. Check the full technical report for our detailed analysis of SOLO support and resistance levels.