Nikola Corp. (NASDAQ:NKLA) and
Lordstown Motor Corp. (NASDAQ:RIDE) are a couple of EV stocks looking to break the downtrend that the companies are in.
Nikola Daily Chart Analysis: The chart above shows Nikola is forming what technical traders may call a “descending triangle” pattern.
The line of support happens near $10 in the pattern for Nikola. This is an area the stock was previously holding as resistance before it broke out. The stock then tested this area as support.
Resistance comes from the line that connects all of the highs on the chart together. The downward sloping line connecting the highs shows the downtrend.
(GOEV), Ford Motor Company (NYSE:F) - Canoo Unveils All-Electric Pickup With Rollout Slated For 2023 benzinga.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benzinga.com Daily Mail and Mail on Sunday newspapers.
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Last week,
Ford Motor Company (NYSE: F) doubled its investment in EVs to $22 million, along with $9 million devoted to development of autonomous vehicle technologies. Although we don t know exactly what exact EV models is the Blue Oval planning, we do Ford will focus on its core pillars of today: pickup trucks, SUVs and vans. The world is eagerly waiting for the electric version of the best-selling pickup truck in the US, F-150, in 2022. Last year, Ford revealed the E-Transit as its battery-electric van option. Speaking of pickup trucks, this will be the year when the electric pickup comes to life, but it remains unknown which automaker will be the first to pull it off.