KLG Stock +78.58% In 3 Months Since We Picked KLG Stock +78.58% In 3 Months Since We Picked Unlock All Top Buy Picks
RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of GOEV
Powered by GPT-4
Upgraded!
Stock Analysis
Risk Assessment
Trading Strategy

Canoo Inc. stock price up 2.59% on Friday
(Updated on Apr 26, 2024)

Sell candidate since Apr 24, 2024 Loss -4.48% PDF

The Canoo Inc. stock price gained 2.59% on the last trading day (Friday, 26th Apr 2024), rising from $2.70 to $2.77. During the last trading day the stock fluctuated 4.81% from a day low at $2.70 to a day high of $2.83. The price has been going up and down for this period, and there has been a 15.42% gain for the last 2 weeks. Volume fell on the last day by -1 million shares and in total, 2 million shares were bought and sold for approximately $6.18 million. 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.

The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -18.54% during the next 3 months and, with a 90% probability hold a price between $0.711 and $3.24 at the end of this 3-month period.

Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.

GOEV Signals & Forecast

The Canoo Inc. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $2.97. On a fall, the stock will find some support from the long-term average at approximately $2.76. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, March 21, 2024, and so far it has fallen -36.18%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Canoo Inc. stock

On the downside, the stock finds support just below today's level from accumulated volume at $2.42 and $2.41. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Canoo Inc. finds support just below today's level at $2.42. If this is broken, then the next support from accumulated volume will be at $2.41 and $2.28.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.130 between high and low, or 4.81%. For the last week, the stock has had daily average volatility of 13.50%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (GOEV) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect Canoo Inc. to open at $2.77, and during the day (based on 14 day Average True Range), to move between $2.31 and $3.23, which gives a possible trading interval of +/-$0.459 (+/-16.57%) up or down from last closing price. If Canoo Inc. takes out the full calculated possible swing range there will be an estimated 33.15% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $2.78 (0.36%) than the support at $2.42 (12.64%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Canoo Inc. stock A Buy?

Canoo Inc. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -2.631 Sell Candidate Unchanged

Predicted Opening Price for Canoo Inc. of Monday, April 29, 2024

Fair opening price April 29, 2024 Current price
$2.77 ( 0.120%) $2.77

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for GOEV

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 2.90 4.57 %
R2 2.85 2.78 %
R1 2.82 1.67 %
Current price: 2.77
Support S1 2.72 -1.91 %
S2 2.69 -3.02 %
S3 2.64 -4.81 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 3.41 23.10 %
R2 2.90 4.69 %
R1 2.78 0.361 %
Current price 2.77
Support S1 2.42 -12.64%
S2 2.41 -13.00%
S3 2.28 -17.69%

FAQ

What is the symbol for Canoo Inc. Stock and on which exchange is it traded?
The symbol for Canoo Inc. is GOEV and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell Canoo Inc. Stock?
Canoo Inc. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

How to buy Canoo Inc. Stock?
Canoo Inc. Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Canoo Inc. Stock.

What's the current price of Canoo Inc. Stock?
As of the end of day on the Apr 26, 2024, the price of an Canoo Inc. (GOEV) share was $2.77.

What is the 52-week high and low for Canoo Inc. Stock?
The 52-week high for Canoo Inc. Stock is $19.50 and the 52-week low is $1.22.

What is the market capitalization of Canoo Inc. Stock?
As of the Apr 26, 2024, the market capitalization of Canoo Inc. is 174.079M.

When is the next earnings date for Canoo Inc.?
The upcoming earnings date for Canoo Inc. is May 20, 2024.
Click to get the best stock tips daily for free!

About Canoo Inc.

Canoo. Canoo Inc., a mobility technology company, designs, engineers, develops, and manufactures electric vehicles for commercial and consumer markets in the United States. The company offers lifestyle delivery vehicles, lifestyle vehicles, multi-purpose delivery vehicles, and pickups. It also provides multi-purpose platform architecture is a self-contained, fully functional rolling chassis design to support various range of vehicle weight and ride prof... GOEV Profile

Top Fintech Company

StockInvest.us featured in The Global Fintech Index 2020 as the top Fintech company of the country.

Full report by FINDEXABLE

ROCKIT