Clean and renewable energy goes hand in hand with the EV sector in 2020.  VivoPower has its hand in both sectors and has had an explosive move off the March 2020 low.  This stock moved from 59 cents to a peak of 24.33 which is about a 4100% move.   It would make sense that the stock needs a prolonged cool down period of profit taking before the next leg higher can materialize.  Before we get into the technicals, lets take a look at what they do as a company:

“Through our subsidiary companies, VivoPower provides a comprehensive suite of sustainable energy solutions, encompassing electric vehicles, solar systems and battery technology, including microgrids, along with critical power services.  Tembo’s Electric Light Vehicle (ELV) are the premier 100% electric solution for ruggedized mining, industrial and commercial applications.  Vivo Solar builds battery storage systems and microgrids.  Kenshaw is a leader in critical electrical power and mechanical services.  And J.A. Martin is specialized in industrial electric engineering and power services.”

Lets dig into the charts!

VivoPower Elliottwave View:

Medium term term view from the all time low in March 2020.  This stock took its time for the momentum to kick in.  After ((2)) set in June, things really started to heat up.  Wave ((3)) peaked at 14.84, rallying from ((2)) low at 1.27. After ((3)) peaked, a sharp ((4)) took place which didn’t last long before the surge in ((5)) took place.  In the end, ((5)) of Red I peaked at 24.33 on October 9th 2020 and the stock has been correcting every since that time.

It is currently favoured that the structure needs another low to complete the sequence from the peak.  The equal leg extreme, or blue box as we like to call it, goes too low to be a reliable target.  It is hard to predict at what price VivoPower may find a low at this juncture.  However, it does appear that at least one more low below ((A)) of Red II is needed to complete the corrective sequence from the Red I peak.

In Conclusion, as long as ((B)) high remains intact, prices can grind lower before resuming the upside.

FURTHER DISCLOSURES AND DISCLAIMER CONCERNING RISK, RESPONSIBILITY AND LIABILITY Trading in the Foreign Exchange market is a challenging opportunity where above average returns are available for educated and experienced investors who are willing to take above average risk. However, before deciding to participate in Foreign Exchange (FX) trading, you should carefully consider your investment objectives, level of xperience and risk appetite. Do not invest or trade capital you cannot afford to lose. EME PROCESSING AND CONSULTING, LLC, THEIR REPRESENTATIVES, AND ANYONE WORKING FOR OR WITHIN WWW.ELLIOTTWAVE- FORECAST.COM is not responsible for any loss from any form of distributed advice, signal, analysis, or content. Again, we fully DISCLOSE to the Subscriber base that the Service as a whole, the individual Parties, Representatives, or owners shall not be liable to any and all Subscribers for any losses or damages as a result of any action taken by the Subscriber from any trade idea or signal posted on the website(s) distributed through any form of social-media, email, the website, and/or any other electronic, written, verbal, or future form of communication . All analysis, trading signals, trading recommendations, all charts, communicated interpretations of the wave counts, and all content from any media form produced by www.Elliottwave-forecast.com and/or the Representatives are solely the opinions and best efforts of the respective author(s). In general Forex instruments are highly leveraged, and traders can lose some or all of their initial margin funds. All content provided by www.Elliottwave-forecast.com is expressed in good faith and is intended to help Subscribers succeed in the marketplace, but it is never guaranteed. There is no “holy grail” to trading or forecasting the market and we are wrong sometimes like everyone else. Please understand and accept the risk involved when making any trading and/or investment decision. UNDERSTAND that all the content we provide is protected through copyright of EME PROCESSING AND CONSULTING, LLC. It is illegal to disseminate in any form of communication any part or all of our proprietary information without specific authorization. UNDERSTAND that you also agree to not allow persons that are not PAID SUBSCRIBERS to view any of the content not released publicly. IF YOU ARE FOUND TO BE IN VIOLATION OF THESE RESTRICTIONS you or your firm (as the Subscriber) will be charged fully with no discount for one year subscription to our Premium Plus Plan at $1,799.88 for EACH person or firm who received any of our content illegally through the respected intermediary’s (Subscriber in violation of terms) channel(s) of communication.

Feed news

Latest Forex Analysis


Latest Forex Analysis

Editors’ Picks

EUR/USD slips below 1.2050 amid dollar strength

EUR/USD is trading below 1.2050, losing some of its gains as the dollar shrugs off the fresh drop in yields and rises. European regulators said the benefits of J&J's vaccine outweigh the risks.

EUR/USD News

GBP/USD retreats from 1.40 despite upbeat UK job figures

GBP/USD is extending its falls after retreating from 1.40 as the dollar edges higher. Earlier, the UK reported a drop in the unemployment rate to 4.9%, better than expected. The Claimant Count Change also beat estimates with 10.1K. 

GBP/USD News

XAU/USD tests key Fibo resistance at $1,775

XAU/USD rebounds after closing in the negative territory on Monday. 10-year US Treasury bond yield is edging lower on Tuesday. Additional gains are likely if gold manages to clear $1,775 resistance.

Gold News

Ethereum price on cusp of massive breakout if key level holds

Ethereum price had a significant 23% correction in the past week but holds above a key support level on the 12-hour chart. The digital asset still has robust on-chain metrics supporting it and aims for a rebound.

Read more

S&P 500 (SPX) Update: Equity markets take a well deserved breather, crypto stocks slide

Equity markets took a much-needed break from setting record highs on Monday. Tesla suffered a steep 5% fall after reports of a crash with no one at the wheel. Have a Coke and a smile was up 1% as KO smashed earnings estimates.

Read more

Majors

Cryptocurrencies

Signatures