Ideanomics (IDEX, $2.41)to buy 2,000 vehicles from BYD Didi
On Monday, electric vehicle-technology company Ideanomics announced that its Mobile Energy Global unit and contractor Qingdao Chengyang Medici have signed a deal with Meihao Chuxing (a joint venture between China's BYD and Didi) to buy an initial 2,000 ride-hailing units of model BYD D1 electric vehicle.
According to Ideanomics, the vehicles are intended to be deployed in multiple cities within China. It expects deliveries to start in the first half of 2021.
The BYD D1 was launched in November, and has a range of 418 km, or 260 miles, and can reach top speeds of 130 km an hour, or 81 miles an hour.
The agreement is backed by a viable government subsidy program, Ideanomics stated in a press release.
Momentum Indicator for IDEX turns negative, indicating new downward trend
IDEX saw its Momentum Indicator move below the 0 level on April 08, 2022. 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 86 similar instances where the indicator turned negative. In 83 of the 86 cases, the stock moved further down in the following days. The odds of a decline are at 90%.
Current price $0.59 crossed the resistance line at $2.64 and is trading between $2.64 resistance and $-0.02 support lines. Throughout the month of 04/13/22 - 05/16/22, the price experienced a -33% Downtrend, while the week of 05/09/22 - 05/16/22 shows a +5% Uptrend.
The Moving Average Convergence Divergence Histogram (MACD) for IDEX turned negative on April 08, 2022. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 41 similar instances when the indicator turned negative. In 39 of the 41 cases the stock turned lower in the days that followed. This puts the odds of success at 90%.
IDEX moved below its 50-day Moving Average on April 07, 2022 date and that indicates a change from an upward trend to a downward trend.
The 10-day Moving Average for IDEX crossed bearishly below the 50-day moving average on April 14, 2022. This indicates that the trend has shifted lower and could be considered a sell signal. In 8 of 9 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are 89%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where IDEX declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 89%.
The Aroon Indicator for IDEX entered a downward trend on May 16, 2022. 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 Oscillator points to a transition from a downward trend to an upward trend -- in cases where IDEX's RSI Indicator exited the oversold zone, 32 of 42 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 76%.
The Stochastic Indicator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. 60 of 70 cases where IDEX's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 86%.
Following a +17.40% 3-day Advance, the price is estimated to grow further. Considering data from situations where IDEX advanced for three days, in 170 of 210 cases, the price rose further within the following month. The odds of a continued upward trend are 81%.
IDEX may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Tickeron has a positive outlook on this ticker and predicts a further increase by more than 4.00% within the next month with a likelihood of 76%. During the last month, the daily ratio of advancing to declining volumes was 1 to 1.58.
The Tickeron Profit vs. Risk Rating rating for this company is 100 (best 1 - 100 worst), indicating that the returns do not compensate for the risks. IDEX’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 74, placing this stock worse than average.
The Tickeron PE Growth Rating for this company is 94 (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 Price Growth Rating for this company is 94 (best 1 - 100 worst), indicating slightly worse than average price growth. IDEX’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 80 (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 Valuation Rating of 77 (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 (0.588) is normal, around the industry mean (2.549). P/E Ratio (0.000) is within average values for comparable stocks, (61.374). IDEX's Projected Growth (PEG Ratio) (0.000) is slightly lower than the industry average of (1.424). IDEX has a moderately low Dividend Yield (0.000) as compared to the industry average of (0.039). P/S Ratio (2.486) is also within normal values, averaging (166.960).
The industry designs and builds agricultural, construction and other large commercial and transportation equipment. Tractors, planters and harvesters, as well as rock-crushing, railroad, demolition and other construction implements are produced by this industry. Rapid urbanization and industrialization has been bolstering the expansion of the construction sector in the past few decades, thereby boosting demand for heavy equipment businesses. Caterpillar Inc., Deere & Company and Cummins Inc (Ex. Cummins Engine Inc) are some prominent companies in this industry.
The average market capitalization across the Trucks/Construction/Farm Machinery Industry is 8.5B. The market cap for tickers in the group ranges from 223.3K to 112.5B. DE holds the highest valuation in this group at 112.5B. The lowest valued company is OSRS at 223.3K.
The average weekly price growth across all stocks in the Trucks/Construction/Farm Machinery Industry was -0.03%. For the same Industry, the average monthly price growth was -4.69%, and the average quarterly price growth was -10.06%. CYLC experienced the highest price growth at 22.91%, while AUSTF experienced the biggest fall at -37.5%.
- 4/12/22 7:11 AM: Ideanomics (IDEX, $0.93) is a top weekly loser for penny stocks, falling -17.27%
- 4/5/22 5:38 AM: Ideanomics (IDEX, $1.13) is a top weekly gainer for penny stocks, rising +18.93%
- 2/24/22 5:54 AM: Ideanomics (IDEX, $0.89) is a top weekly loser for penny stocks, falling -18.31%
The average weekly volume growth across all stocks in the Trucks/Construction/Farm Machinery Industry was -69.63%. For the same stocks of the Industry, the average monthly volume growth was -55.04% and the average quarterly volume growth was -59.92%
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
Stocks in the group have a Positive Outlook today, backed by the MA200MA50 Indicator. Tickeron has a positive outlook on this group and predicts a further increase by more than 4.00% within the next month with a likelihood of 30%. During the last month, the daily ratio of advancing to declining volumes was 1 to 1.15.
8 stocks in the group of tickers exhibit a similar positive trend based on the Volume indicator with an average likelihood of 79%.
The most notable companies in this group are Cisco Systems (NASDAQ:CSCO), Accenture PLC (NYSE:ACN), International Business Machines Corp (NYSE:IBM), SERVICENOW (NYSE:NOW), Block (NYSE:SQ), Workday (NASDAQ:WDAY), VMware (NYSE:VMW), Splunk (NASDAQ:SPLK), Zillow Group (NASDAQ:Z), Juniper Networks (NYSE:JNPR).
The average market capitalization across the group is 12.4B. The market cap for tickers in the group ranges from 0 to 205.9B. CSCO holds the highest valuation in this group at 205.9B. The lowest valued company is MTBCP at 0.
The average weekly price growth across all stocks in the group was -0.07%. For the same group, the average monthly price growth was -15.62%, and the average quarterly price growth was -32.33%. TZOO experienced the highest price growth at 18.98%, while DTSS experienced the biggest fall at -29.77%.
- 5/14/22 4:23 AM: Zillow Group (ZG, $40.14) was a top weekly gainer, with a +7.41% jump
- 5/14/22 4:23 AM: Zillow Group (Z, $40.56) was a top weekly gainer, with a +6.6% jump
- 5/12/22 5:38 AM: Amdocs (DOX, $76.97) was a top loser this week, declining -5.19%
The average weekly volume growth across all stocks in the group was -64.52%. For the same stocks of the group, the average monthly volume growth was -27.73% and the average quarterly volume growth was -39.79%
- 5/14/22 4:16 AM: The volume for ServiceSource International stock increased for one day, resulting in a record-breaking daily growth of 213% of the 65-Day Volume Moving Average
- 5/14/22 4:16 AM: The volume for Switch stock increased for two consecutive days, resulting in a record-breaking daily growth of 281% of the 65-Day Volume Moving Average
- 5/13/22 4:50 AM: The volume for Switch stock increased for one day, resulting in a record-breaking daily growth of 359% of the 65-Day Volume Moving Average
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows