The Long Investor

$PSNY - RC -

Added 2023-09-30 11:42:12 +0000 UTC

$PSNY has been beaten up more than most EV growth stocks and it is hard to believe considering, they are already selling cars, they have the banking of Volvo and their P/S: 0.47.

So although they have a lot of work to do as they grow and to become profitable, they are not in a bad situation and I would prefer $PSNY then some other EV growth stocks in the US.

5 waves down in red is evident now and the price came very close to the trend line in Sept and has bounced since, it is still too early to say that this is the start of the recovery as we can only see one wave up so far but I have added in an impulse wave as I am slightly leaning towards this now....in line with $FSR and $NIO.

The big test will be getting out of this wedge at $3.30 over the next few weeks, a break out of the wedge and this has a lot of upside.....like $FSR and $NIO.