Rally

Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Chargepoint stock price (NYSE: CHPT) fell 20% in the current month.&nbsp;</a> </li> 
 <li> <span>2</span> <a>CHPT stock price is trading below the 50-day and 200-day EMA showcasing downtrend.</a> </li> 
 <li> <span>3</span> <a>Chargepoint Holdings Inc. is expected to release its quarterly earnings on August 30, 2023.</a> </li> 
</ul> 
<p>Chargepoint stock price (NYSE: CHPT) fell 20% (approx.) in the current month and hit a 52-week low. It formed a bearish pattern and eroded the gains generated in the month of June.&nbsp;</p> 
<p>CHPT stock price faced rejection from the 50-day EMA and keeps on falling by forming lower lows. It showcases that the trend is in a downward direction and bears continued dominance on a higher level.&nbsp;</p> 
<p>Chargepoint Holdings’ stock price has gone far away from the 50-day and 200-day EMA. So, the pullback rally may trigger from the lower levels.&nbsp;</p> 
<p>At the end of June, Chargepoint stock took support near $7.30 and the price showed a minor bounce. It rallied 27% approx and created hope for a bullish trend reversal.&nbsp;</p> 
<p>However, the rally halted near $9.23 and prices entered consolidation. Buyers tried their best to hold the price above $9.00. But sadly sellers took over the control and dragged the prices to the previous low.&nbsp;</p> 
<p>Chargepoint Stock price closed the previous session at $6.97 with an intraday decline of 1.27%. The market capitalization stands at $2.46 Billion.</p> 
<h2 class="wp-block-heading" id="strong-is-the-comeback-possible-in-chargepoint-stock-strong"><strong>Is the Comeback possible in Chargepoint Stock?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh6.googleusercontent.com/fAJBYgluGOmyJYhFg03ezGWNExkFYStlEgeAbEh6YlGbO9qzBuAT1HSdMqIdy9Mpr5X_M7H0BOLCft3JBeoopC6oCzpfEw-fPCHRdPsTc2-ojHZ_0-5Xk7ZWfq5iME9XWpwSZ-0rJv2gONmycZNkOQ" alt="Chargepoint Stock: Will CHPT Stock Take U-turn After Earnings?"> 
  <figcaption class="wp-element-caption">
    NYSE: CHPT daily chart by <a href="https://www.tradingview.com/x/4LdVQ2V7/" rel="noopener noreferrer nofollow">TradingView&nbsp;</a> 
  </figcaption> 
 </figure> 
</div> 
<p>Chargepoint stock price (NYSE: CHPT) is in a correction phase and no signs of recovery are visible. However, the stock is oversold and quarterly earnings are scheduled for next week. So, the volatility in the <a href="https://www.thecoinrepublic.com/2023/08/04/chargepoint-holdings-inc-will-chpt-stock-price-rebound-for-10/" target="_blank" rel="noopener noreferrer nofollow">stock</a> may rise in the coming sessions.&nbsp;</p> 
<p>Chargepoint Holdings is expected to release the earnings on August 30, 2023. Market analyst estimates an EPS of -0.1333 and a revenue estimate of $153.526 Million.&nbsp;</p> 
<p>If the company succeeds to beat the analyst estimates then a short covering rally is possible in the stock. Else, prices might continue to trade with a bearish bias.</p> 
<h3 class="wp-block-heading" id="strong-pull-back-rally-possible-in-chpt-stock-strong"><strong>Pull Back Rally possible in CHPT Stock</strong></h3>  
<div class="tradingview-widget-container"> 
 <div id="tradingview_46142"></div> 
 <div class="tradingview-widget-copyright"> <a href="https://www.tradingview.com/" rel="noopener noreferrer nofollow" target="_blank"><span class="blue-text">Track all markets on TradingView</span></a> 
 </div> 
 <script type="text/javascript" src="https://s3.tradingview.com/tv.js"></script> 
 <script type="text/javascript">
  new TradingView.widget(
  {
  "width": 950,
  "height": 500,
  "symbol": "NYSE:CHPT",
  "interval": "D",
  "timezone": "Etc/UTC",
  "theme": "dark",
  "style": "1",
  "locale": "en",
  "enable_publishing": true,
  "allow_symbol_change": true,
  "studies": [
    "STD;Supertrend"
  ],
  "container_id": "tradingview_46142"
}
  );
  </script> 
</div>  
<p>CHPT stock price fell for 4 consecutive weeks. So, a pullback rally or narrow-range consolidation is expected in September month. If the broader market index and EV stocks begin to recover then <a href="https://www.thecoinrepublic.com/2023/08/04/chargepoint-holdings-inc-will-chpt-stock-price-rebound-for-10/" target="_blank" rel="noopener noreferrer nofollow">Chargepoint shares </a>may also participate.&nbsp;</p> 
<p>The technical indicators like MACD slopes down indicates sellers are more active as compared to buyers. The RSI at 27 denotes oversold territory which is a matter of concern for the short sellers.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>Chargepoint stock price (NYSE: CHPT) already down by 20% in the current month. The quarterly earnings are scheduled next week which decide the next direction of stock. The technical analysis suggests, CHPT stock is oversold so a relief is pending.&nbsp;</p> 
<h5 class="wp-block-heading"><strong>Technical levels</strong></h5> 
<ul> 
 <li>Resistance levels: $7.00 and $8.00</li> 
 <li>Support levels: $6.56 and $6.00</li> 
</ul> 
<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. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

Chargepoint Stock: Will CHPT Stock Take U-turn After Earnings?

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Thecoinrepublic.com

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