HOT TOPICS LIST
- MACD
- Fibonacci
- RSI
- Gann
- ADXR
- Stochastics
- Volume
- Triangles
- Futures
- Cycles
- Volatility
- ZIGZAG
- MESA
- Retracement
- Aroon
INDICATORS LIST
LIST OF TOPICS
PRINT THIS ARTICLE
by Matt Blackman
Is it finally catch-up time for this clean energy truck manufacturer?
Position: N/A
Matt Blackman
Matt Blackman is a full-time technical and financial writer and trader. He produces corporate and financial newsletters, and assists clients in getting published in the mainstream media. Matt has earned the Chartered Market Technician (CMT) designation. Follow Matt on Twitter at www.twitter.com/RatioTrade
PRINT THIS ARTICLE
Hyliion Holdings Corp - A Laggard On The Move
02/18/21 04:35:07 PMby Matt Blackman
Is it finally catch-up time for this clean energy truck manufacturer?
Position: N/A
| Hyliion Holdings, which bills itself as "a leader in electrified powertrain solutions for Class 8 commercial vehicles", saw its stock price surge more than 35% February 11. The manufacturer of electrified powertrain solutions for the global transportation sector builds new trucks and net-carbon negative green natural gas powertrain systems to add to existing conventionally-powered trucks. On Thursday it announced the introduction of its "next generation" battery module to achieve longer battery life, higher charging rates and improved safety for both its hybrid systems and fully electric power trains for Class 8 transport trucks (>33,000 lbs), according to the BusinessWire news release. Based on the response, investors clearly liked it! Trading volume for the day was 10 times the 50-day moving average of volume with more than 66 million shares trading hands. |
|
| Figure 1. Daily chart of Hyliion Holdings Corp showing massive daily move February 11 compared to its industry (purple). Note the jump in volume to ten times its 50-day moving average. |
| Graphic provided by: Freestockcharts.com. |
| |
| This isn't the first time HYLN has taken off. On September 2, 2020 it hit $58.66 following the announcement of Special Purpose Acquisition Company (SPAC) merger (see "Hyliion Holding Corp - Another Low Emissions Truck Manufacturer Starts Trading" below). Unfortunately, that price wasn't to hold as it dropped into year-end, eventually hitting a low of $15.21 on January 5, 2021. It didn't help the sector when truck maker Nicola got creamed with the release of a report that the company had misled investors in June 2020, hammering the stock from $79.73 to under $14 by late December. Fundamentally, the company continues to lose money with Hyliion's operating loss before depreciation (EBIT) losing $2.8 billion, down from -$2.2 billion in November 2020. From an earning perspective, HYLN lost $4.2 million in its latest year and currently has no revenue. |
|
| Figure 2. Weekly chart of HYLN showing percentage gains since June 2020 compared to clean tech truck makers Tesla and Workhorse. |
| Graphic provided by: Freestockcharts.com. |
| |
| The question from here is how Hyliion will compete in an industry that is adding competitors to a burgeoning field. Investors have great hopes for the green transportation sector as evidenced by the huge moves in companies in the industry such as Tesla, Workhorse, Magna International and Rivian that are already producing products and revenues. But as the February 11 news release shows, HYLN can do very well on positive news. Players who thrive on risk could start to pick away at a few shares once the latest move settles to make a new base and generates its next buy signal. But this is not the type of stock to file away into a retirement plan and forget about, at least at this point until it proves that it can generate revenues and competitively priced products. |
| Suggested Reading: Hyliion Introduces Next Generation Battery Module to Improve Performance and Efficiency - BusinessWire Hyliion Holding Corp website Hyliion Holding Corp - Another Low Emissions Truck Manufacturer Starts Trading Nicola Corp - Where To Next? Workhorse Breakout |
Matt Blackman is a full-time technical and financial writer and trader. He produces corporate and financial newsletters, and assists clients in getting published in the mainstream media. Matt has earned the Chartered Market Technician (CMT) designation. Follow Matt on Twitter at www.twitter.com/RatioTrade
| Title: | Author |
| Company: | TradeSystemGuru |
| Address: | Box 2589 |
| Garibaldi Highlands, BC V0N1T0 | |
| Phone # for sales: | 6048989069 |
| E-mail address: | indextradermb@gmail.com |
Traders' Resource Links | |
| TradeSystemGuru has not added any product or service information to TRADERS' RESOURCE. | |
Click here for more information about our publications!
PRINT THIS ARTICLE
|
Request Information From Our Sponsors
- StockCharts.com, Inc.
- Candle Patterns
- Candlestick Charting Explained
- Intermarket Technical Analysis
- John Murphy on Chart Analysis
- John Murphy's Chart Pattern Recognition
- John Murphy's Market Message
- MurphyExplainsMarketAnalysis-Intermarket Analysis
- MurphyExplainsMarketAnalysis-Visual Analysis
- StockCharts.com
- Technical Analysis of the Financial Markets
- The Visual Investor
- VectorVest, Inc.
- Executive Premier Workshop
- One-Day Options Course
- OptionsPro
- Retirement Income Workshop
- Sure-Fire Trading Systems (VectorVest, Inc.)
- Trading as a Business Workshop
- VectorVest 7 EOD
- VectorVest 7 RealTime/IntraDay
- VectorVest AutoTester
- VectorVest Educational Services
- VectorVest OnLine
- VectorVest Options Analyzer
- VectorVest ProGraphics v6.0
- VectorVest ProTrader 7
- VectorVest RealTime Derby Tool
- VectorVest Simulator
- VectorVest Variator
- VectorVest Watchdog