GOEV closed down 1.55 percent on Wednesday, May 8, 2024, on 19 percent of normal volume. The stock exhibited some range contraction during this trading session as price made an NR7 -- narrowest range of the last seven sessions. Note that the stock is in oversold territory based on its Slow Stochastic indicator (14, 3, 3) -- so don't be surprised if it goes sideways or bounces.
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Thanks, guys! That's really insightful. I'm not really a trader but am trying to reap some rewards in this unforgiving market so this is really appreciated.
Earnings call tomorrow afternoon so suspect price movement may be based on funding news, production, and potential new partnerships. Outstanding news is on Walmart orders, Kingbee orders, DOE loan, and US Army's contracting decision. It should be telling
I can't tell you exactly what changed in GOEV without doing a lot of digging but it's entirely possible that it was on the border line of a D and an F yesterday and it could be that several other stocks had their scores plummet, thereby lifting GOEV to a D.
In fact, you can see here that it's been vacillating between D & F for the last few weeks:
GOEV Grade history
I wouldn't try to read too much into those grades, other than a way to get a general idea of how a stock has been performing. As I wrote in that blog post years ago, I primarily use the grades as a way to sort & filter scan results
