United

Wednesday

Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>EVGO stock price is on a declining streak after testing the $5.97 level.</a> </li> 
 <li> <span>2</span> <a>EVGO shares have slipped below 20, 50, 100 and 200-days daily moving averages.</a> </li> 
 <li> <span>3</span> <a>Evgo Inc. (NASDAQ: EVGO) is an electric vehicle DC fast charging station network in the United States.</a> </li> 
</ul> 
<p>EVGO stock price has been slipping in a declining streak amid sustained seller pressure. EVGO is approaching the lower trendline within the consolidation phase, situated near the demand zone.&nbsp;</p> 
<p>It’s now crucial for buyers to step in and potentially lead to a recovery of EVGO shares, aiming for an upward movement towards the upper limit. While EVGO stock made an attempt to maintain its position above the consolidation phase, it was unsuccessful and retreated back within the horizontal range.</p> 
<p>EVGO stock price was at $4.27. It lost 2.95% of its market capitalization during Tuesday’s trading session. Trading volume is below average and needs to grow during Wednesday’s trading session demonstrating that sellers are trying to pull EVGO towards the lower trendline of the horizontal range-bound area.</p> 
<h2 class="wp-block-heading" id="strong-will-evgo-stock-price-bounce-back-strong"><strong>Will EVGO Stock Price Bounce Back?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh3.googleusercontent.com/Wmy8cDeRqIJdMxiMYLS-1pxScoTOSU6GVsbKMhgKzkh0mluFH72L2R-aHed5M3ZuZ_32SH94HKo15XfOBazQJlMTYr4h1LIEjjjbM6Z64sqYEpORn5WIz783XhsY8FBFvJbuDgIYuFB9RpdHHXRB2w" alt="Evgo Inc.: Will NASDAQ: EVGO Stock Price Escape Declining Streak?"> 
  <figcaption class="wp-element-caption">
    Source: NASDAQ: EVGO by <a href="https://www.tradingview.com/x/rGruUrQj/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>The EVGO stock price is currently facing a challenge as it aims to end its downward trend and make a decisive move out of the consolidation phase. Despite this, there’s evidence that sellers are working to drive EVGO towards the lower end of the price range within the consolidation phase.&nbsp;</p> 
<p>To prevent <a href="https://www.thecoinrepublic.com/2023/08/10/evgo-inc-nasdaq-evgo-stock-price-faces-sustainability-issues/" target="_blank" rel="noopener noreferrer nofollow">EVGO stock price</a> from descending further within this horizontal range, buyers need to gather and show support. Additionally, it’s noteworthy that EVGO shares have dropped below their 20, 50, 100, and 200-day daily moving averages. The trading volume has been below average, but it’s crucial for it to increase during the Wednesday trading session for sustainable changes.</p> 
<p>Over the past year, EVGO has experienced a significant decline, with its stock price dropping by approximately 64.53%. This downward trend continues over various timeframes, as it decreased by 8.57% in the span of a week, 0.70% within a month, 17.09% over the past three months, and a substantial 35.79% in the last six months. Year to date, EVGO has seen a decrease of 9.53%.</p> 
<p>Technical indicators highlight the downtrend of EVGO stock. Relative strength index and moving average convergence divergence both indicate the fall of EVGO shares.</p> 
<p>RSI was at 45 and is moving towards the oversold territory. The MACD line is below the signal line after a negative crossover. Investors in Evgo Inc., (NASDAQ: EVGO) need to wait for any directional change over the daily time frame chart.</p> 
<h4 class="wp-block-heading"><strong>Summary</strong>&nbsp;</h4> 
<p>EVGO stock price has been slipping into a declining streak and must gather support for a rebound over the daily time frame chart. To prevent EVGO share price from descending further within this horizontal range, buyers need to gather and show their support. Technical indicators highlight the downtrend of EVGO stock. Investors in Evgo Inc., (NASDAQ: EVGO) need to wait for any directional change over the daily time frame chart.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<p><strong>Support Levels:</strong> $4.15 and $4.00</p> 
<p><strong>Resistance Levels:</strong> $4.65 and $5.45</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.: Will NASDAQ: EVGO Stock Price Escape Declining Streak?

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