A TA of the 1HR chart on $VLTA

19 במאי 2022

Just an idea…but Volta had a pretty decent quarter even if it was nothing to write home about. It’s shows improvement. Being and ev charging station maker i see some future upside long term but i do something interesting on the charts in the 1 hr. If you look at the price action compared to the rsi, Mac d and obv you can see all kinds of bullish indicators. I marked the strongest ones. If you look at the green and red lines i marked on the chart as well this what i could see happening. It’s formed this weird shaped cup and and handle and now its restesting if it likes this break in market structure. Theres no gap on the daily but the 1 hr has a gap thats down to around 1.80ish range. So if VLTA doesn’t hold above $2.09 mark then i expect it to fill down before trying to break again. On the other hand the c/p ratio is way bullish but theres not a lot of vol coming in and ortex threw a type 3 short squeeze signal. Analysts are calling for a tp of $6. If for some reason momentum and interst come into this stock i could see $3 eow and $4 shortly after that. Ill be watching this one closely as i feel more downside might be good opportunity to buy this at discount.