Breaking News
Investing Pro 0
NEW! Get Actionable Insights with InvestingPro+ Try 7 Days Free

Arcimoto Stock Worth A Look

By MarketBeat.com (Jea Yu )Stock MarketsFeb 17, 2021 06:27AM ET
www.investing.com/analysis/arcimoto-stock-worth-a-look-200561281
Arcimoto Stock Worth A Look
By MarketBeat.com (Jea Yu )   |  Feb 17, 2021 06:27AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
 
WKHS
+7.09%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
FUV
-0.72%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
RIDE
-2.66%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
GOEV
-5.30%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

Three-wheel electric vehicle (EV) Arcimoto (NASDAQ:FUV) was highlighted in an article “Arcimoto Stock is Worthy at These Levels” on Jan. 13, 2021. Shares have nearly doubled since then prompting the consideration to ring the register taking some or all profits while the market continues to price in the EV and clean energy narrative premium.

As U.S. EV makers get closer to production, markets will move to actual EV delivery metrics. Arcimoto is nearing production ramps on their unique line of three-wheel EVs tailored to the first responders, recreational, and delivery services segments. Prudent investors who took positions earlier in the year might want to lock some profits into opportunistic exit price levels before a larger channel tightening reversion kicks in.

Updates and Events

On Jan. 25, 2021, Arcimoto announced the acquisition of Tilting Motor Works, creator of the TRiO, three-wheel conversion kit for touring motorcycles. Most notably, the patented tilting trike technology will be integrated into Acrimoto products. This news triggered the range breakout spiking shares into the mid-$20s, which would continue to squeeze for the next several weeks to peak at $36.80 on Feb. 5, 2021. The sentiment driving up U.S. EV makers was also key momentum factor as Workhorse (NASDAQ:WKHS), Lordstown Motors (NASDAQ:RIDE) and Canoo (NASDAQ:GOEV) share similar price spikes.

Catalysts

Investors are waiting for updates on the pilot program with the City of Orlando for first responder EVs. The Company had originally forecast the production of four EVs per day by the end of Q1 2021 and the ultimate goal of up to 50,000 EVs within 24 hours. Since the last article, the Company had received 4,000 deposits. Any updates on the Orlando project notably orders, rise in paid deposits and ramp up of EV deliveries are the key catalysts that can spike share prices. Investors may consider these spikes to sell-the-news before the market does into opportunistic exit price levels.

Arcimoto Inc Weekly Chart
Arcimoto Inc Weekly Chart

FUV Opportunistic Exit Levels

Using the rifle charts on the weekly and daily time frames provides a precise near-term perspective of the price action playing field for FUV stock. The weekly rifle chart formed a pup breakout after triggering the daily market structure low (MSL) buy trigger above $13.75 at the beginning of 2021. The weekly 5-period moving average (MA) is rising at $23.62 while shares overshot the weekly upper Bollinger Bands (BBs) at $32.65.

The daily rifle chart formed two pup breakouts to trigger a squeeze up to $36.80 before peaking to form a market structure high (MSH) sell trigger below $30.05 and a weekly MSH trigger below $27.22. The weekly mini pup can’t formed until the weekly 5-period MA is tested and bounces. The daily channel tightening completed by testing the daily 15-period MA at the $27.15 Fibonacci (fib) level.

The daily has a make or break that is anchored by the daily stochastic and daily 5-period MA falling at $30.06. A coil back to the daily 5-period MA provides opportunities to trim some profits before the daily MSH triggers under $27.22, which can lean price down towards the weekly 5-period MA at the $23.22. Prudent investors can use opportunistic exit price levels to ring the register on part of all of the position from the $25.34 fib up to the $39.54 fib with a trail stop under $21.92.

Obviously, one would prefer to trim shares are the higher fibs, but that’s only possible if the daily stochastic crosses back up as shares rise through the daily 5-period MA long enough to enable the weekly mini pup to materialize. Shares may not test the upper exit fib ranges so it’s best to be aware of the price inflection points to consider trimming.

Original Post

Arcimoto Stock Worth A Look
 

Related Articles

Arcimoto Stock Worth A Look

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email