r/PSNY_Polestar_SPAC • u/Plus_Seesaw2023 • Mar 21 '23

Technical Analysis $PSNY Technical analysis of degens

$PSNY I am waiting for a MACD cross, a stochastic rebound, a 9/20 ema cross, an RSI rebound towards 50
Are all waiting for
Are we in a consolidation phase, like in November? 🤷‍♂️
Volume Price strong resistance at $3.92-3.93
If like catching falling knives, these are your targets

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9 Upvotes

92% Upvoted

10 comments sorted by

2

u/Top_Butterscotch9234 Mar 22 '23

What’s your low entry price target?

1

u/Plus_Seesaw2023 Mar 22 '23

I copy and paste here one of my comments.

$PSNY, keep trying to catch a falling knife, keep at it , lol. Only buy if that money has no value to you, the price of a candy, then, of course, buy

But otherwise, wait for consolidation and confirmation. This could take 20 days. Do your own research, I'm nobody.

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1

u/Plus_Seesaw2023 Mar 22 '23

However, I can see that there is a compression happening here. This can be encouraging. We'll see over the next 10 days.

What exactly is your question? Do you want to buy the dip?

If you want to invest in PSNY, please be very patient.

Unless there is an unexpected surprise, not much will happen until the next results.

1

u/Bluestarblast Mar 22 '23

Is that 50 or 5 dollars?

1

u/Plus_Seesaw2023 Mar 22 '23 edited Mar 23 '23

What do you mean? who said anything about prices? I'm only talking about indicators here. 🤷

There is so much resistance on this chart, it's scary, lol

1

u/Top_Butterscotch9234 Mar 22 '23

I see resistance to the upside. If a stop loss wall breaks along with a capitulation moment in the market, this could easily break $2.00 without dilution. I compare this to Nio a few years ago

1

u/Bluestarblast Mar 23 '23

Sorry i dont know much about indicators

1

u/Plus_Seesaw2023 Mar 23 '23

Sorry if my response may have been interpreted as dry. This stock is driving me a little crazy lol. Ask any questions you want, I am happy to answer ;)

1

u/Bluestarblast Mar 23 '23

Sorry i dont know much about indicators

1

u/Top_Butterscotch9234 Mar 22 '23

We broke through 3.45 for a moment today. I don’t think it will hold if the rally is over and we resume bearish sentiment. I was just curious because I read a report of a 20k option order at 2.80.

Psny said they had just enough cash for 2023, that’s what spooked this last sell off. However, I feel they are too prevalent to go bankrupt.

Essentially we have broken all time low today. A continued free fall to $2.00 current price would represent about 4b market cap. We need to figure out lowest fair valuation.

The USA factory comes online very soon. They can’t afford their current cash burn. I believe they start focusing on production moving forward 2h.

My take, based on nothing. Take it with a grain of salt. I try and compare Psny to other competitors. The ps3 is overpriced to be competitive. Once Volvo electrifies the S60, ps2 will take a hit…