Novonix (NVX)Inverted Head and Shoulders about to play out.
There is already a change of market structure with a Failure Swing.
Entry can be taken on a candle close at 0.550 with a measured move exit at 0.760 (assuming continued market structure.
NVX trade ideas
Powering the Future: Novonix (NVX) Charges Ahead ASX:NVX Novonix Limited, a company specializing in advanced battery materials and technology, has recently received a significant boost with its strategic partnership & off-take agreement with Panasonic Energy.
The supply deal with Panasonic signals a strong vote of confidence in Novonix's synthetic graphite technology, which boasts superior performance characteristics compared to traditional graphite materials. With Panasonic being a prominent supplier to major EV manufacturers like Tesla & Mazda, this partnership opens up significant growth opportunities for Novonix within the rapidly expanding EV market and solidifies Novonix's position as a crucial player in the supply chain for synthetic graphite batteries, particularly for electric vehicles (EVs).
Adding to the excitement, Jeff Dahn, a celebrity in the battery field, serves as the Chief Scientific Advisor at Novonix. Dahn's decision to transition from his leadership role at Tesla’s Advanced Battery Research group to advise for Novonix speaks volumes about the company's innovative vision. Notably, Professor Dahn and his research team maintain collaborations with Tesla, further bolstering Novonix's industry credibility and strategic vision.
Novonix's proprietary battery testing equipment and services have garnered widespread acclaim within the industry. Their cutting-edge technology enables more accurate and efficient testing of lithium-ion batteries, addressing a critical need for battery manufacturers striving to enhance performance and reliability.
In addition to its technological prowess, Novonix boasts a robust intellectual property portfolio, including patents and proprietary processes, providing a solid foundation for long-term growth and competitive advantage in the burgeoning battery market.
The global push towards decarbonization and electrification further amplifies Novonix's bullish outlook. As governments worldwide enact stricter regulations on emissions and incentivize the adoption of electric vehicles, the demand for advanced battery materials is poised to skyrocket. Novonix stands at the forefront of this revolution, positioned to capitalize on the surging demand for high-performance batteries.
Novonix's alignment with industry stalwarts like Panasonic, coupled with Jeff Dahn's Tesla connection and its pioneering technology, positions the company for sustained growth and leadership in the dynamic battery market. As the demand for high-performance batteries continues to soar, Novonix stands poised to capitalize on this trend, delivering value to investors and stakeholders alike.
The Technicals: In analyzing the technical aspects, it's noteworthy that ASX:NVX (ASX) recently rebounded from a significant resistance level at $0.530, indicating strong buying interest. I believe ASX:NVX is at a discounted price and has great upside potential. #Bullish
NOVONIX LIMITED the ATH NVX Limited is also at the top of my buying list for the next few months. On a monthly basis, the price has stabilized and should definitely go up from the low. Even though this company is causing a lot of movement, the recommendation is on a monthly basis, so hold, hold, hold until the ATH.
Novonix limited- wait and see case💎The price has come to a confluence of a trend line with the fib ratio of 0.618. The only wait is for some kind of bullish candle.
💎 The downward trend is the correction of a larger degree of wave 1. wave 2 could go further down.
🚩30ma has act as a downward trendline showing a bearish scenario if the price breaks the trendline.
Novonix ST: the upside prevails as long as 9.20 is support.Alternative scenario: the downside breakout of 9.20 would call for 7.10.
My pivot point stands at 8.20.
My preference: the upside prevails as long as 0.20 is support.
Comment:
the RSI is above its neutrality area at 50.
The MACD is positive and above its signal line.
The configuration is positive.
Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 9.11 and 9.11).
Trade Safe -
Jimster45
NVX - 4 Bar Setup LongSimple 4 Bar Setup on the daily chart after a correction, with momentum ticking back up. Fundamentals also seem bullish for this stock with demand for battery materials staying elevated I don't see why NVX couldn't break out to new highs as FOMO runs rampant. Not financial advice just showing a good setup in my opinion.
