Workhorse stock: buy or sell
Jun 22nd, 2021
Workhorse stock brief
- Workhorse stock went down -2.22% to close at $14.54 on the stock market on Monday.
- Workhorse Group Inc., a technology company, designs, manufactures, builds, and sells battery-electric vehicles and aircraft in the United States.
Should I buy Workhorse stock?
All successful traders recommend adhering to a trading strategy and not make decisions based on subjective opinions, rumors or feelings. Trading strategies are meant for helping you in the decision process of what stocks to pick and when is the best moment to buy them. At Stocks2.com, we like to use very simple but trusted and powerful trend following trading strategies. Simple things usually work the best
Is $WKHS stock a buy?
Currently, Workhorse stock doesn't match any of these trading strategies, so our recommendation is not to buy now. This doesn't mean $WKHS will slide in coming sessions, or it will not rise higher. Simply, it doesn't match our recommended trading systems
Should I sell Workhorse stock?
When you are a novel trader and you own a stock with some profit, it's really hard to decide the correct moment to sell and get your benefits. In the same way as when we have to buy shares, deciding when is the best time to sell is not a whimsy decision, and we must follow our own trading strategy. We like very simple setups to guide us on when is the best time to sell our shares. Be aware that these setups should not be used for shorting $WKHS stock
A guiding principle is that you must never mantain a trade that produces greater losses than those expected by the time of purchase. The moment to sell shares always has to be determined by the stop-loss (automatic or manual)
Is it time to sell Workhorse stock?
Currently, Workhorse stock doesn't match any of our preferred sell setups, so if you hold Workhorse stock and your operation is in profit probably is not time to sell now
In the last month, just one analyst rating was published for Workhorse
|Jun 4th, 2021|
Workhorse stock analysis
Supports and resistances
The current resistances are:
The current supports are:
Since the price surpassed the upper band on June 9, the price has been corrected downwards by 21.79%
Relative strength index
The RSI dropped below the overbought level of 70 on June 10 after just crossing to the overbough zone for 1 day (weak signal). The RSI reading on Monday was 57.38. Since RSI lost the overbought zone, Workhorse stock tanked a 13.96%
Workhorse stock price history
Workhorse started trading on Jun 25th, 2010 priced at $5.10 per share1. Since then, WKHS stock has risen by 185.10%, with an average of 18.51% per year. An investment of thousand dollars on Jun 2010 would worth $2,850.98 today.
1: Adjusted price after possible price splits or reverse-splits
Price target for Workhorse stock
Nobody knows how much a stock will be priced in the future. Banks and financial organisations issue their analysis predicting how a particular stock will performance in the future.
The following table shows the price target posted by analysts in the last month. If you are a small investor you should not trade based on these price targets.
There is just one price target issued for Workhorse that forecasts a price of $13.00.
|Brokerage firm||Price target|
|Jun 4th, 2021|
Earnings and financials
Financial event was hosted by Workhorse ($WKHS) in mid-May after posting the earnings report. The company reported EPS that seriuosly missed analysts' expectations. Quarterly EPS was $-1.04 per share from an estimated $-0.17.Compared to the same quarter last year, EPS was $0.06, so posted EPS means a reduction of -1,833.33%. Looking at turnover, figures exploded a 518.10% compared to $843,000 same quarter 12 months ago.
Workhorse ($WKHS) will host the earnings call next August. Market forecasts of $-0.29, compared to previous quarter that made $-1.04.
Important:The thoughts given in this post are personal and should not be followed as recommendations for you to buy or sell shares. The author of this article does not have an understanding of the individual positions of the reader, his or her finances or his or her own best interests at any given time. All users should speak with their financial advisor before buying or selling any securities Viewpoints are posted for general educational motives only
|Monday, June 21st, 2021|
|Day range||$14.01 - $15.09|
|Average true range||$2.84|
|50d mov avg||$11.63|
|100d mov avg||$16.99|
|200d mov avg||$19.96|
|Earnings date||August 9th, 2021|