This week, I hosted a one-hour special edition of Market Buzz on the Electric Car theme. While I have 29 currently on my list, there are some compelling charts other than Tesla to check out.
BYD Co. (BYDDF)
BYD is a large manufacturer competing in the electric vehicle space. They also compete in electric bikes, buses, solar panels and batteries. The wide perspective of this company makes a compelling place for all this renewable energy-related price action in the USA, and this week was no exception.
GreenPower Motor Company (GPV.V)
This company is California-based, but they have a Canadian stock market listing. They are also a niche manufacturer using electric propulsion. The focus on mini-buses, buses and double-decker fully electric buses is pretty unique. The stock has had a very strong move, but the recent pullback might be setting up a nice entry.
NIU Technologies (NIU)
This is another good example. NIU makes scooters similar to the Vespa Italian scooters. These are not like the lime scooters you see placed around metro centres. I like the chart shape, as it appears to be a flag pattern and it looks set to try the upside soon.
The variety between the different electric propulsion success stories is a compelling reason to investigate names other than Tesla.
If you are interested, here is a link to the one-hour special on Market Buzz.
Canadian Technician article this week. I think these themes are interrelated and, if you would like to be kept abreast of the changing investor focus, I'll be producing a newsletter about the various changes in the (Electric Vehicle) EV theme. You can sign up for the newsletter here; I will send you a list of all the electric vehicle companies I am following.The renewable energy theme is starting to show up in Tom Bowley and Mary Ellen McGonagle's blogs. I also covered some renewable power companies in the
I think it is important to be looking across the space for new ideas. We appear to be on the verge of one of the biggest moves in the car business since the roaring 20s!
Greg Schnell, CMT, MFTA
Senior Technical Analyst, StockCharts.com
Author, Stock Charts For Dummies
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