Valued at $724 million, Solid Power Inc. (SLDP) is a developer of all-solid-state rechargeable battery cells for electric vehicles and mobile power markets. I sorted for stocks with the highest technical buy signals, superior current momentum in both strength and direction, and a Trend Seeker “buy” signal. I then used Barchart’s Flipcharts feature to review the charts for consistent price appreciation. SLDP checks those boxes, writes Jim Van Meerten, analyst at Barchart.
Since the Trend Seeker signaled a buy on May 7, the stock has gained 236.6%. In fact, Solid Power shares hit a new 52-week high on July 21, touching $4.30 in intraday trading.
SLDP Price vs. Daily Moving Averages
What else do I like here? SLDP has a 100% technical “Buy” signal. It has a Weighted Alpha of +80.05. It’s trading above its 20-, 50- and 100-day moving averages. Relative Strength Index is at 83.03% and technical support is at $3.60.
Meanwhile, revenue is projected to grow 4.2% this year and another 15.2% next year. Earnings are estimated to increase 9.2% this year, but decrease 2% next year.
The bottom line: Solid Power currently has momentum and is hitting new highs. Wall Street analysts think it has room to appreciate, but some major advisory services think it has peaked. I caution that SLDP is volatile and speculative — so use strict risk management and stop-loss strategies.
