39 Days Away, Fisker Ocean Road Tour, New Manufacturing Goals, & Stock Hits All-Time Low

Fisker Ocean Manufacturing Assembly Plant

This week in Fisker was slow as it appears to be the calm before the storm as the company announces new pop-up locations and manufacturing goals.

Fisker Ocean assembly at Magna Steyr in GRaz, Austria
Fisker Ocean assembly at Magna Steyr in GRaz, Austria.

Today, we are another week closer to the official start of production on November 17th. That’s right, we’re now 39 days away from the date when Magna will begin producing sellable vehicles for Fisker. While this week in Fisker was kind of slow, there were a couple announcements.

One announcement, directly from Henrik Fisker himself caught our eyes. It was shared by him on social media. Henrik said Fisker and Magna plan to produce 23 electric SUVs next week. You heard that right, 23 vehicles built in one-week. That would be incredible if Fisker and its partner can pull it off.

Then, yesterday, Fisker announced its starting up another leg of its USA tour. The company will be stopping by Seattle, Houston, Austin, and Dallas with the Fisker Ocean. This will be the very first time the Fisker Ocean makes its way to both the Pacific Northwest and South-Central United States. Don’t forget to share your photos and videos with us to be featured on the site!

There’s something interesting though about this latest announcement from Fisker. If you noticed, Fisker is now calling it a “road tour”. The orange line on the map provided appears to head right through Salt Lake City and Denver. Nothing officially confirmed, but our fingers are crossed for those of you in those cities!?

More Fisker Ocean Updates

Fisker Ocean being assembled on the high volume production line in Graz, Austria
Fisker Ocean being assembled on the high volume production line in Graz, Austria.

It was a week ago today when Fisker extended lock dates for some Ocean One customers. Not all customers received a new lock date. Ours went from 10/10 to 11/21. This update didn’t make last week’s This Week In Fisker since we published it on a Saturday. However, we wanted to bring that to your attention in case you didn’t see the update last week.

Also, we published a 10 question written interview with Electrify America. We were planning to meet up with the charging company at Fully Charged Live in San Diego, but wanted to focus all our limited time on the Fisker Ocean. Believe it or not, all interview questions were written by members of Fiskerati Forums. For those that don’t know much about fast charging, it is a good read.

There were two other articles this week we wanted to highlight. The first is titled, “Solid as a Rock” which showed off the driver’s side door closing. We talked about our in person experience at Fully Charged Live and how the Fisker Ocean doors were solid as the newly released video shows.

The second article is titled, ” Which Color Fisker Ocean Are You Getting?” You can probably guess what this article is about. New photos of the Fisker Ocean were released this week showing off Mariana again in different lighting. We conducted a poll to find out which color is currently the most popular. Big Sur Blue seems to be the winner at the moment.

Weekly Stock Chart Analysis

Fisker stock chart week ending October 7th, 2022
Fisker stock chart week ending October 7th, 2022.

Fisker shares closed the week at $7.37 down 2.38% on the week. This was compared to the NASDAQ composite which rose by by 0.73% by Friday’s close. The overall stock market was under pressure on Monday followed by two days of surging to end the week fractionally higher. Fisker shares on the other hand hit an all-time low this week.

Fisker stock traded in a range this week from $7.09 to $8.32/share. There is nothing new here as retail investors get use to seeing another all-time low every week. As the saying goes, the trend is your friend. We are still in a down trend. This trend will not end until we see higher highs and higher lows on daily candle closes.

We could start this in smaller timeframes with a reversal pattern on higher timeframes in the coming days to confirm the setup. Fisker bulls are clueless and losing hope as we continue to see all-time lows each week. Fisker bears are happy to continue to push the share price even more lower. This is especially true with the negative market sentiment.

What We Expect Next Week

The Fisker chart shows we have a price divergence. This is good news. We can expect a visit to $7.80/share again next week. With a close above this price on the intraday chart, Fisker shares can once again push to the long waited target of $8.60/share.

Also, the weekly candle on the Fisker chart shows a nice inverted hammer. This could indicate a reversal is near on the weekly chart. However, “smart money” investors are waiting to see Fisker stock breaks the $9.50 level. This is where there is currently a very strong downtrend line.

If shares rise above this level, smart money investors could start new positions in Fisker shares expecting for new highs. Time will tell which direction Fisker shares will continue to move.

Stock chart analysis provided by @khaled_kayuae. He is a professional investor, swing trader, and chartist with a long position in Fisker ($FSR) shares. 

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