WORKHORSE GROUP INC. - Weekly - Technical analysis published on 03/01/2021 (GMT)
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- Timeframe : Weekly
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Slightly bullish
Technical indicators
11%
56%
33%
My opinion
Bearish under 19.78 USD
My targets
15.38 USD (-7.79%)
8.05 USD (-51.76%)
My analysis
The current short-term bearish trend is expected to quickly reset the neutral or bearish trend. To avoid contradicting the short term, it would be possible to favour short positions (for sale) for WORKHORSE GROUP INC. as long as the price remains well below 19.78 USD. The next bearish objective for sellers is set at 15.38 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 8.05 USD. In case of crossing, the next objective would be the support located at 5.03 USD. As the basic trend is not clearly displayed, attention should be paid to the price response to the support located at 15.38 USD. With this support, against the trend traders who want to buy WORKHORSE GROUP INC. on a buy signal from their trading strategy should not hesitate to act.
In the very short term, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.
Force
0
10
1.8
Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.
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Additional analysis
Quotes
WORKHORSE GROUP INC. rating 16.68 USD. The price registered a decrease of -46.78% over 5 days and was traded between 15.00 USD and 19.70 USD over the period. The price is currently at +11.20% from its lowest point and -15.33% from its highest point.15.00
19.70
16.68
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bearish opening
Type : Bearish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by WORKHORSE GROUP INC.:
Abnormal volumes
Timeframe : 5 days
Technical
Technical analysis of this Weekly chart of WORKHORSE GROUP INC. indicates that the overall trend is slightly bullish. 57.14% of the signals given by moving averages are bullish. Caution: the strong bearish signals currently given by short-term moving averages indicate that a trend reversal may be taking place. An assessment of moving averages reveals several bearish signals that could impact this trend:
Bearish trend reversal : Moving Average 20
Type : Bearish
Timeframe : Weekly
Bearish trend reversal : adaptative moving average 20
Type : Bearish
Timeframe : Weekly
Bearish trend reversal : adaptative moving average 50
Type : Bearish
Timeframe : Weekly
Bearish price crossover with Moving Average 20
Type : Bearish
Timeframe : Weekly
Bearish price crossover with Moving Average 50
Type : Bearish
Timeframe : Weekly
Bearish price crossover with adaptative moving average 20
Type : Bearish
Timeframe : Weekly
Bearish price crossover with adaptative moving average 50
Type : Bearish
Timeframe : Weekly
Bearish price crossover with adaptative moving average 100
Type : Bearish
Timeframe : Weekly
In fact, 10 technical indicators on 18 studied are currently positioned bearish. Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Weekly
RSI indicator is back under 50
Type : Bearish
Timeframe : Weekly
MACD crosses DOWN its Moving Average
Type : Bearish
Timeframe : Weekly
Parabolic SAR indicator bearish reversal
Type : Bearish
Timeframe : Weekly
SuperTrend indicator bearish reversal
Type : Bearish
Timeframe : Weekly
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Momentum indicator is back under 0
Type : Bearish
Timeframe : Weekly
Williams %R indicator is back under -50
Type : Bearish
Timeframe : Weekly
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
Support of channel is broken
Type : Bearish
Timeframe : Weekly
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bearish signal that could support the hypothesis of a small drop in the very short term:
Long black line
Type : Bearish
Timeframe : Weekly
ProTrendLines
S2
S1
R1
R2
Price
| S2 | S1 | Price | R1 | R2 | |
|---|---|---|---|---|---|
| ProTrendLines | 5.03 | 15.38 | 16.68 | 19.78 | 28.87 |
| Change (%) | -69.84% | -7.79% | - | +18.59% | +73.08% |
| Change | -11.65 | -1.30 | - | +3.10 | +12.19 |
| Level | Intermediate | Major | - | Major | Major |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 13.19 | 14.44 | 15.31 | 16.56 | 17.43 | 18.68 | 19.55 |
| Camarilla | 15.59 | 15.78 | 15.98 | 16.17 | 16.36 | 16.56 | 16.75 |
| Woodie | 12.99 | 14.34 | 15.11 | 16.46 | 17.23 | 18.58 | 19.35 |
| Fibonacci | 14.44 | 15.25 | 15.75 | 16.56 | 17.37 | 17.87 | 18.68 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | -12.66 | -0.08 | 8.05 | 20.63 | 28.76 | 41.34 | 49.47 |
| Camarilla | 10.47 | 12.37 | 14.27 | 16.17 | 18.07 | 19.97 | 21.86 |
| Woodie | -14.90 | -1.19 | 5.81 | 19.52 | 26.52 | 40.23 | 47.23 |
| Fibonacci | -0.08 | 7.83 | 12.72 | 20.63 | 28.54 | 33.43 | 41.34 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | -25.65 | -6.57 | 4.80 | 23.88 | 35.25 | 54.33 | 65.70 |
| Camarilla | 7.80 | 10.59 | 13.38 | 16.17 | 18.96 | 21.75 | 24.54 |
| Woodie | -29.51 | -8.50 | 0.94 | 21.95 | 31.39 | 52.40 | 61.84 |
| Fibonacci | -6.57 | 5.06 | 12.25 | 23.88 | 35.51 | 42.70 | 54.33 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 44.15 | |
| MACD (12,26,9): | 2.2600 | |
| Directional Movement: | -2.00 | |
| AROON (14): | -21.43 | |
| DEMA (21): | 27.93 | |
| Parabolic SAR (0,02-0,02-0,2): | 42.35 | |
| Elder Ray (13): | -9.05 | |
| Super Trend (3,10): | 37.70 | |
| Zig ZAG (10): | 17.01 | |
| VORTEX (21): | 0.9400 | |
| Stochastique (14,3,5): | 28.20 | |
| TEMA (21): | 26.91 | |
| Williams %R (14): | -85.86 | |
| Chande Momentum Oscillator (20): | -4.97 | |
| Repulse (5,40,3): | -77.6700 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 2.5000 | |
| Courbe Coppock: | 57.58 |
| MA7: | 21.07 | |
| MA20: | 31.43 | |
| MA50: | 27.23 | |
| MA100: | 24.40 | |
| MAexp7: | 24.97 | |
| MAexp20: | 24.37 | |
| MAexp50: | 18.71 | |
| MAexp100: | 13.14 | |
| Price / MA7: | -20.84% | |
| Price / MA20: | -46.93% | |
| Price / MA50: | -38.74% | |
| Price / MA100: | -31.64% | |
| Price / MAexp7: | -33.20% | |
| Price / MAexp20: | -31.56% | |
| Price / MAexp50: | -10.85% | |
| Price / MAexp100: | +26.94% |
Quotes :
2021-03-01 17:30:39
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15 min delayed data
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NASDAQ Stocks
News
The last news published on WORKHORSE GROUP INC. at the time of the generation of this analysis was as follows:
- BREAKING ALERT: ROSEN, A TRUSTED AND TOP RANKED LAW FIRM, Encourages Workhorse Group Inc. Investors with Losses Exceeding $100K to Inquire About Class Action Investigation - WKHS
-
Workhorse Group Inc. - WKHS Stock Chart Technical Analysis for 02-25-2021
- INVESTIGATION ALERT: The Schall Law Firm Announces it is Investigating Claims Against Workhorse Group Inc. and Encourages Investors with Losses of $100,000 to Contact the Firm
- Breaking Alert: Rosen Law Firm Encourages Workhorse Group Inc. Investors with Losses to Inquire About Class Action Investigation – WKHS
-
Workhorse Group Inc. - WKHS Stock Chart Technical Analysis for 02-24-2021
This member declared not having a position on this financial instrument or a related financial instrument.
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