Swing trading offers a lucrative option for those involved in the financial markets, one that often delivers significant returns for stocks with strong momentum. One such stock, which has been under the radar of many swing traders lately, is Workhorse Group Inc. (WKHS). Known for its innovative solutions in the transportation sector, WKHS has seen an impressive upturn in its value recently, specifically a +7.84% increase over a 3-day period.
The question on everyone's minds now is, will this uptrend continue? Recent technical analysis (TA) and market data suggest it might. Historical data shows that whenever WKHS has advanced for three consecutive days, it has continued to rise in 216 out of 257 instances. That's a promising precedent, with a success rate of around 84%. It implies that the odds of WKHS continuing its upward trend in the upcoming month are high, considering past behavior.
While swing trading, like any investment strategy, involves several factors, historical data can provide helpful guidance. Historical performance, as we've seen with WKHS, can often shed light on potential future trends.
The market's response to the strong uptrend of WKHS is an impressive 8.9% gain in recent days. This spike is not just a temporary fluctuation. It reflects a robust market sentiment and investor confidence in the prospects of the company.
The use of Downtrend Protection (TA) in this context is quite beneficial. It serves as a strong buffer, shielding against potential downtrends while allowing investors to capitalize on the upward trajectory. It essentially provides an extra layer of security while navigating the often unpredictable market movements.
The recent growth of WKHS, backed by historical data, provides an encouraging scenario for swing traders and investors alike. The potential for continued growth, aided by Downtrend Protection (TA), suggests that WKHS is well-positioned to maintain its momentum in the upcoming month. Thus, for those considering new investment opportunities, Workhorse Group Inc. might prove to be a lucrative choice.
WKHS saw its Momentum Indicator move below the 0 level on September 01, 2023. This is an indication that the stock could be shifting in to a new downward move. Traders may want to consider selling the stock or exploring put options. Tickeron's A.I.dvisor looked at 73 similar instances where the indicator turned negative. In of the 73 cases, the stock moved further down in the following days. The odds of a decline are at .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where WKHS declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
The Aroon Indicator for WKHS entered a downward trend on September 21, 2023. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
The RSI Indicator shows that the ticker has stayed in the oversold zone for 7 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an Uptrend is expected.
The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 14 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where WKHS advanced for three days, in of 262 cases, the price rose further within the following month. The odds of a continued upward trend are .
WKHS may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (0.898) is normal, around the industry mean (6.710). P/E Ratio (3.200) is within average values for comparable stocks, (20.510). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (5.666). WKHS has a moderately low Dividend Yield (0.000) as compared to the industry average of (0.040). P/S Ratio (7.189) is also within normal values, averaging (49.647).
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating slightly worse than average price growth. WKHS’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating that the returns do not compensate for the risks. WKHS’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 85, placing this stock worse than average.
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a manufactures of high performance, medium duty trucks
|MFs / NAME||Price $||Chg $||Chg %|
|Allspring Diversified Income Bldr A|
|Goldman Sachs Small Cap Gr Insghts P|
|Fidelity Advisor® Growth & Income M|
|JPMorgan Small Cap Growth R5|
|Saratoga Financial Service C|
A.I.dvisor indicates that over the last year, WKHS has been loosely correlated with RIVN. These tickers have moved in lockstep 51% of the time. This A.I.-generated data suggests there is some statistical probability that if WKHS jumps, then RIVN could also see price increases.