United

Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>EVGO stock price has escaped from the consolidation phase at the demand zone.</a> </li> 
 <li> <span>2</span> <a>EVGO shares are trying to remain above 20 and 50-EMA to surge above 100 and 200-days daily moving averages.</a> </li> 
 <li> <span>3</span> <a>Evgo Inc. (NASDAQ: EVGO) stock has gained around 10.98% in a week.&nbsp;</a> </li> 
</ul> 
<p>EVGO stock price is currently facing sustainability issues after its breakout from the consolidation phase and is trying to sustain at upper threshold. EVGO shares need to revert from the upper trendline of the consolidation phase in order to recover over the daily time frame chart. However, sellers may approach to pull EVGO back inside the horizontal range-bound area.&nbsp;</p> 
<p>EVgo, a prominent network of DC fast charging stations for electric vehicles in the United States, boasts over 850 charging points as of August 2022. These charging stations are strategically situated across 34 states and offer compatibility with all leading automobile manufacturers.</p> 
<p>EVGO stock price was at $4.75 and has lost 3.85% of its market capitalization during Wednesday’s trading session. Trading volume can be seen below average and needs to grow during Thursday’s trading session. EVGO needs to accumulate buyers by the start of Thursday’s trading session in order to sustain and rebound from the upper threshold.</p> 
<h2 class="wp-block-heading" id="strong-will-evgo-stock-price-make-or-break-strong"><strong>Will EVGO Stock Price Make or Break?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh5.googleusercontent.com/NzJfMQaLPqsNlVw8c4sWezdb0Uhcxw3Doerafqa8UbQuDSfUIyhCbOQlOZGyJnouPUmYig-CmZbmIyLx44cwlVIySnzuuA5gzGQ_j1dfmHDSYljUWHqqpWuUzqFcR6eycRhGwRrVbxGT1ayqmvhQHQ" alt=""> 
  <figcaption class="wp-element-caption">
    Source: NASDAQ: EVGO by <a href="https://www.tradingview.com/x/16LZNsUd/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>Since May 2023, EVGO stock price has been stabilizing within a demand zone on the daily time frame chart. Recently, it broke free from the horizontal range it was confined to. Nonetheless, the stock is currently trading in proximity to the upper trendline of this consolidation period and needs to rebound at this level to sustain its ongoing recovery. Notably, EVGO’s share price has been contained within a price range of $3.65 to $4.65 during this consolidation phase.</p> 
<p>Presently, EVGO shares are striving to maintain positions above both the 20 and 50-day exponential moving averages (EMAs) as part of an effort to surpass the 100 and 200-day daily moving averages. Over the course of a week, the EVGO share price has seen a 10.98% increase, and within a month, it has recorded a growth of 12.56%.&nbsp;</p> 
<p>Conversely, the stock has witnessed a decline of approximately 20.17% over the past three months and a more substantial decrease of 25.78% over the previous six months. Additionally, the EVGO stock price has exhibited a marginal increase of 0.64% year-to-date. These trends collectively suggest a potential recovery trajectory for EVGO in the year 2023.</p> 
<p>Technical indicators suggest the downside trend of EVGO stock price. Relative strength index and moving average convergence divergence both confirm the downward momentum of EVGO shares.&nbsp;</p> 
<p>RSI was at 55 and was heading towards neutrality to be oversold. The MACD line is moving towards the signal line for a negative crossover. Investors in Evgo Inc. (NASDAQ: EVGO) need to wait for any directional change over the daily time frame chart.&nbsp;</p> 
<h4 class="wp-block-heading"><strong>Summary</strong></h4> 
<p>EVGO stock price is currently facing sustainability issues after its breakout from the consolidation phase is trying to sustain at the upper threshold. EVgo, a prominent network of DC fast charging stations for electric vehicles in the United States, boasts over 850 charging points as of August 2022. Notably, EVGO’s share price has been contained within a price range of $3.65 to $4.65 during this consolidation phase. Technical indicators highlight the downside trend of EVGO stock price.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<p><strong>Support Levels:</strong> $4.65 and $4.50</p> 
<p><strong>Resistance Levels:</strong> $5.02 and $5.75</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.</p>

Evgo Inc NASDAQ: EVGO Stock Price Faces Sustainability Issues

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