WKHS The horse that works extra hard does all the work

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Interesting trend alignment on WKHS that has a possible drop really low which could spring the price, there is also potential for a confirmation due to a short increase in price which could theoretically do the same. The better climb for the price would be to DROP first to .4999 and then rocket upwards, however, there is a chance, that .8 takes the price to 1.2 which then sees the big drop to .4999, which leaves with the final chance of the $7 jump going .4999. It seems this .4999 is the move that springs the price upwards of $30, otherwise I wouldn't be as hopeful. It should happen fast, and retracements should happen fast.
Good luck!
Line on chart is more of an estimate or guideline, instead follow the price targets and trends.

Here's an analysis of the chart for Workhorse Group, Inc. (WKHS):

Timeframe:
Daily Chart: This chart shows daily price movements from late 2022 to the present, around November 2024.

Price Movement:
Initial Decline: From late 2022 into early 2023, there was a significant decline in the stock price, dropping from above $30 to below $2.
Consolidation: Post-decline, the stock entered a consolidation phase, trading sideways with minor fluctuations around $2 to $4 from mid-2023 to early 2024.
Recent Surge: There's a notable sharp increase in the stock price towards the end of 2024, rising significantly from around $1.20 to over $30.

Technical Indicators:
Moving Averages:
200-day Moving Average: The stock price has been below this moving average for most of the period, indicating a long-term bearish trend. However, the recent surge has pushed the price above this average, suggesting a potential shift to bullish sentiment.
Support/Resistance:
Support: Around $1.20, where the price bounced back before the surge.
Resistance: Previous highs around $30 could act as psychological resistance, but the recent break above this level suggests strong bullish momentum.

Volume:
Volume Spike: There's a noticeable increase in volume during the recent price surge, indicating strong buying interest.

Chart Patterns:
Inverse Head and Shoulders: Towards the end of the chart, there's a formation that resembles an inverse head and shoulders pattern, which is typically a bullish reversal pattern.
Neckline: The breakout above the neckline around $1.20 confirms this pattern, projecting a potential rise to around $30, which the stock has already achieved.

Fibonacci Retracement:
Not explicitly shown, but if drawn from the peak to the trough before the surge:
61.8% Retracement: Around $18.90, which could be a potential target or resistance level.

Analysis:
Trend Reversal: The recent surge indicates a strong reversal of the downtrend that dominated from late 2022 to early 2024. This could be due to positive news, earnings, or market sentiment.
Momentum: The stock has significant upward momentum, but after such a rapid increase, it might face profit-taking or consolidation at these levels.
Risks: Given the rapid rise, there's a risk of a pullback or correction. If the price fails to hold above the previous resistance at $30, it could see a sharp decline.

Conclusion:
Bullish Outlook: The chart suggests strong bullish momentum with potential for further gains if the current sentiment holds. However, caution is advised due to the possibility of a pullback after such a steep rise.
Entry Points: For those looking to enter, waiting for a pullback to test support around $20-$25 or using options for less risky exposure might be wise.
Stop Loss: For traders, setting a stop loss below the recent breakout level around $1.20 or the 50% retracement level could manage risk.

Remember, while technical analysis provides insights, fundamental analysis and understanding the company's news, earnings, and market conditions are crucial for making informed trading decisions.