CBAK Energy Technology, Inc. stock trades under the ticker CBAT & has recently shown technical strength that poses trade opportunities.
On Monday 10/5/2020 they closed at $4.15/share, and they show signs of continued growth into today in pre-market trading.
CBAT stock does not have options to trade, so a trader would need to hedge their risk using an inverse-NASDAQ Index ETF for any potential downward movement in price.
CBAT Price: $4.15
10 Day Moving-Average: $1.92
50 Day Moving-Average: $1.02
200 Day Moving-Average: $0.75
RSI: 78
Based on yesterday’s high price, they show room to run beyond $4.75+, and their pre-market price is currently just over $5.
I am looking to get into them today/tomorrow for a short term trade opportunity, as they do not fit the profile of the type of company I would invest in for the long haul.
*** I DO NOT OWN ANY SHARES OF CBAT ***