Chart Updates Week 31: Proterra Inc.

In the last post about Proterra (see Company Insight: Proterra), I mentioned the stock price being range-bound and moving sideways without any clear trend. After the earning report, the price has broken the support at 13.25 USD and seems to be consolidating inside the range between 10.5 & 12 on the 1D timeframe chart. The volumes are much better than the last period of consolidation between the beginning of March and mid-July. Moving averages, MA100 and MA50 curves show a downward trend, while the MA 10 seems to be flattening out indicating a consolidation.

Proterra Inc, 1D Chart

On the weekly chart, as mentioned there seems to be a downward trend on an MA10 curve.

TradingView Chart Snapshot

In conclusion, I would wait for the earnings report later in August (11th Aug to be precise) to see how the business is performing and wait for the price to break out before building any further position in the stock.

Disclosure: I have a position in the company and may or may not increase/decrease my position within the coming weeks and months.See my complete portfolio here. Please read the disclaimer before acting on the information provided on the website. Some of the links in the post may be affiliate links.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: