Fisker (#FISKER) weekly uptrend opportunity based On 1.00 Lot Calculation:
Based in California, Fisker, Inc. manufactures eco-friendly electrically powered vehicles. Among investors also called the next Tesla. The company was founded by Henrik Fisker in 2016. Fisker is focusing on solid-state battery technology, which will allow for smaller battery packs with greater range and substantially faster charging times than vehicles that use lithium-ion batteries. In July 2020, Fisker announced an initial public offering on the New York Stock Exchange through a merger with Spartan Energy Acquisition Corp. The deal values Fisker Inc at US$2.9 billion.
- EVENT 1: The $1.75tn “build back better” bill. The House passed a $1 trillion bipartisan plan to rebuild roads and bridges, modernize public works systems and boost broadband internet, among other major improvements to the nation’s infrastructure. The Build Back Better bill includes the Clean Electricity Performance Program which stands to make the biggest dent in U.S. greenhouse gas emissions by cleaning up the grid. The bill would also deliver the largest investment in renewable energy in US history. US President Biden set up the goal of 80% clean electricity by 2030. Senate approval is postponed for 2022, as democratic Sen. Joe Manchin did not give his support for the bill in this form.
- ‘Ocean’, an electric sports utility vehicle (SUV) equipped with a solar power plant, mass production is scheduled to begin on November 17, next year. The price is expected to be less than $40,000. About 62,000 units were pre-ordered. The overall output is, according to the company, “several hundred thousand” vehicles in 2024.
- The company plans to release four additional models by 2025.
- Fisker and Magna sign long-term agreements, including production. Magna International is a Canadian company, the largest automobile parts manufacturer in North America.
- In November, Soros Fund purchased 307,300 shares of Fisker (worth about $6.26 million).
- PRICE ACTION: The price reached the record high in March this year hitting $31.96. The stock price is currently moving around $16.30. Potential growth in order to reach a previous high is around 95.95%.
- Credit Suisse has a buy recommendation with price target at $32, Morgan Stanley price target is at $40 and Cowen & Co. at $28.0.
Fisker, December 08, 2021
Current Price: 16.31
|
Fisker |
Weekly |
|
Trend direction |
|
|
21.80 |
|
|
20.15 |
|
|
18.80 |
|
|
14.00 |
|
|
12.50 |
|
|
11.15 |
Example of calculation based on weekly trend direction for 1.00 Lot*
|
Fisker |
||||||
|
Pivot Points |
||||||
|
Profit or loss in $ |
27,450.00 |
19,200.00 |
12,450.00 |
-11,550.00 |
-19,050.00 |
-25,800.00 |
|
Profit or loss in €* |
24,396.53 |
17,064.24 |
11,065.09 |
-10,265.21 |
-16,930.93 |
-22,930.07 |
|
Profit or loss in £** |
20,833.65 |
14,572.17 |
9,449.14 |
-8,766.07 |
-14,458.33 |
-19,581.35 |
|
Profit or loss in C$** |
35,500.54 |
24,830.98 |
16,101.34 |
-14,937.38 |
-24,636.98 |
-33,366.62 |
* 1.00 lot is equivalent of 5 000 units
** Calculations for exchange rate used as of 09:50 (GMT) 20/12/2021
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Client Manager regarding their use.
*** You may wish to consider closing your position in profit, even if it is lower than suggested one
**** Trailing stop technique can protect the profit – Ask your Client Manager for more detail