 boom What's up money geeks? Mr. V here. Welcome to another video guys. So into this video We are going to talk about charge point ticket symbol CHBT Which is a stock that we cover here as of Recently as last week. I told you guys that we were approaching certain levels in charge point Which could either go up or go down. So there's been some movement and some of the reasons behind that movement So we're gonna talk about that into this video But before we get started guys, we are new to the channel We talk about how to earn money how to save money how to invest and build wealth So that's something that interests you go ahead and hit that subscribe button and the notification bell So you don't miss out on new content. So when it comes to charge point again This is one of the leading charging stations in the country. So I've told you guys My EV plan again from start to finish so I look at companies that mine lithium I look at companies that build batteries. I look at companies that build cars I use those batteries and I look at companies that Create charge charging stations for to charge those cars And then when the cars get old I look at companies that can extract the lithium out of those batteries and Recycler so that is the the land so charge point is one of the leading charging stations And so we we covered that here on the channel. There's been some movement So again, if we go back and take a look at charge point When I talked about it last time even before we go back and look at the charts guys Here's why I just want to make sure that we cover this real quick the director of charge point holding sold 4.6 million in stocks Usually when this happens in the market it creates a panic because either most people are always assuming that if you are Somebody on the inside and you are selling it means you probably know something about a stock that we don't know You're probably anticipating that the price of that stock is going to go down So that's one of the reasons why charge point took a beating So if we jump right here into the charts, I'm just going to take a look here so we can see So if you can see here, this is what we tried it last time So I was showing you guys these levels if you can see right here charge point approach here It was sitting somewhere about 19 20 So and I told you guys that each time this stock is actually Approaches levels it's bound. So if you can see here from the highs back as early That was like December of last year. This thing has pulled Down a lot. So each time it approaches this 20 level 20 19 level it bounces approach here Bounds approach here bounds and then right here is same thing So the last the last one we're talking right now is here So and I mentioned this in the last video I said if it if it bounces back and then expect a run, but if it breaks this level, then I'm gonna I'm gonna pull I'm gonna pull the But if it breaks this level then I'm gonna pump the brakes. I'm not gonna follow it So we were expecting so right here. This is where we talked about it last time It was sitting somewhere around here. Just about 19 50 or so so it popped up to about 21 As you can see right there up to about 21 and then pull back down hard, which that news came out that the Director sold four point two million shares. I think yeah, and let's go back here 4.6 million shares actually so the director sold 4.6 million shares. So see it's broken this level right now So if you can see this trend line that I drew here, it's now trading below that so at this point I don't know what the news support is gonna be so I'm gonna have to wait here I'm not gonna take a trade at this particular point. I'm just gonna wait again If I wait for it to bounce back and if it bounce back and crosses that at 19 Getting into 20 that might be enticing for me to go along But as of right now this thing is not trending in the right direction. So I'm just gonna hold The palm of the bricks here and wait the same thing is happening with if you can see here bling Which is a competitor of charge point. I just want to bring this up So you guys can see it looks like the sector is actually really getting pounded So if you can see here bling has done the same thing from the highs back in early January Pull back bling came down here to 28 and some change bounce came down here tested that again Bounced off right here around 28 29 and bounce and then right here We work if you were expecting that bounce it just just gonna broke through. So it's actually going down It below those levels that we have actually charted in the past. So this is For me again, my strategy here is that I'm gonna pump the brakes and kind of wait to see What goes on here? So if you are if you were trading for me Remember when I talked about charge point last time, I gave you guys levels I did but I did buy some calls here around 19 and it got up to that 21 when I noticed it was starting to show some some Resistance and I took the profit there. It wasn't a ton of profit But I took the profit there was hoping to get back in but look at this is just keep pulling back And so at this point, I'm gonna wait until I see a support or it establish some of the bottom for me to Get back in the other thing to it if you want to have at least have some confirmation here I would see this trend line this 1920 to me is a really good spot So if it if this in curse back up and break that and then that would give me indication that will sign to see back An upward movement here and that's when I might consider taking a long position But until then I'm just gonna wait allow this thing time to kind of settle in so Why is there a charge point pulling back? One in my personal opinion is because of this inside that selling where the director is selling 4.6 million and again guys It just it's just a feeling in the market. It's just people anticipate like hey if you were selling if you're in there You believe that this stock is gonna go up. Why are you selling at this price? Why didn't you wait for it to bounce back and go to that 28 29? Dollar price point where the stock is actually traded to sell and make my money You'd you prefer to sell at this lower price So there's something that you know that we don't know that my pool the price of the stock down So that could be our with the reasons and the market would get that kind of feeling that this is what's going on So but definitely do do your own your own research and make sure that you understand What's going on here? And then the other thing that I kind of see here that's going on is the infrastructure build that has our Building I think 500,000 charging stations across the country is getting stalled in Congress right now You don't really know what direction this is gonna go Democratic struggling to get the votes to pass that bill Again, Evie is a huge part of that bill the 3.5 trillion dollar bill. So they're talking about Maybe bringing it down to about 1.5 trillion, but again Those auto sentiments are people are sent a sense that so if there's no direction They don't know that this bill is gonna pass that might definitely be one of the reasons why people are sending a panic and sell and take some profit Off of a charge point. So again, those two things in combination in my personal opinion is wise That's why I'm gonna I'm gonna just back off charge point right now until it shows me some some support levels That I'm comfortable with then to start looking to go long So again, let me know in comment section what you think about is if you're new to the channel We took about how to earn money how to save money how to invest and build wealth So that's something that interests you go ahead and hit that subscribe button and the notification bell So you don't miss out on your content and as always guys, do your due diligence. Don't be a greedy savage. Stay motivated You