I agree. Seems to be the new line of support which was resistance a few times now. A good trading range could now be 3.50 and $4.00 until the next leg up.
I understand the concept that you're saying but KNDI only traded 200,000 shares all day. Either or my short-term price target is $8. I won't be surprised if it hits it Monday.
All I can say is. Late trade or not. This late trade at 7.83 can bid the price up over the high of the day on Friday morning which was 7.75. KNDI can move to $8.00 very quickly from there.
Momentum is building with huge volume at the neckline. We could see short term prices run to $5.00 area close to the 200 DMA. Within 2 weeks is a reasonable time heading into earnings.
If they could , it would put them out of business. Things are made purposely for a reason , " to force the consumer to buy the products again ". Its all about making money consistently
Wheat , corn , soybeans , coffee , sugar , just a few, are all in a bull market and will continue to rise in prices throughout the summer. Reason being is the warm Winter and the more than expected rain we had in the mid West.
And another .13 cents today while the DOW was down over 100 points. A strong bounce in the market tonorrow , could take this to $5 easy