EVgo, Inc. Stock Forecast
High volatility in EVgo, Inc. stock price on Friday which ended trading at $0.185
(Updated on May 17, 2024)
The EVgo, Inc. stock price gained 2.61% on the last trading day (Friday, 17th May 2024), rising from $0.180 to $0.185. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 16.24% from a day low at $0.163 to a day high of $0.189. The price has risen in 7 of the last 10 days and is up by 8.64% over the past 2 weeks. Volume fell on the last day by -19 thousand shares and in total, 3 thousand shares were bought and sold for approximately $498.04 . You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
Given the current short-term trend, the stock is expected to fall -18.37% during the next 3 months and, with a 90% probability hold a price between $0.107 and $0.151 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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EVGOW Signals & Forecast
The EVgo, Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.166 and $0.165. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 31.91%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for EVgo, Inc. stock
EVgo, Inc. finds support from accumulated volume at $0.181 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0264 between high and low, or 16.24%. For the last week the stock has had daily average volatility of 11.51%.
Our recommended stop-loss: $0.179 (-3.30%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (EVGOW) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect EVgo, Inc. to open at $0.179, and during the day (based on 14 day Average True Range), to move between $0.162 and $0.208, which gives a possible trading interval of +/-$0.0232 (+/-12.53%) up or down from last closing price. If EVgo, Inc. takes out the full calculated possible swing range there will be an estimated 25.06% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.181 (2.06%) than the resistance at $0.189 (2.27%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is EVgo, Inc. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 3.346 Buy Candidate Unchanged
Predicted Opening Price for EVgo, Inc. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.179 ( 3.25%) | $0.185 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EVGOW
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.205 | 11.04 % | |
| R2 | 0.195 | 5.58 % | ||
| R1 | 0.189 | 2.21 % | ||
| Current price: | 0.185 | |||
| Support | S1 | 0.169 | -8.70 % | |
| S2 | 0.162 | -12.08 % | ||
| S3 | 0.152 | -17.53 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.210 | 13.58 % | |
| R2 | 0.190 | 2.81 % | ||
| R1 | 0.189 | 2.27 % | ||
| Current price | 0.185 | |||
| Support | S1 | 0.181 | -2.06% | |
| S2 | 0.170 | -8.01% | ||
| S3 | 0.166 | -10.44% |
FAQ
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