Million

Resistance

Simply

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>GOEV stock price decreased by 8.45% over the past week and the current price is below major trendline.</a> </li> 
 <li> <span>2</span> <a>Canoo Inc. (NASDAQ: GOEV) stock’s 52-week price range is $0.4135 – $1.47.</a> </li> 
</ul> 
<p>GOEV Inc. is a company that creates electric vehicles for different purposes and markets in the US. Canoo Inc. started in 2017 and is based in Torrance, California. It makes vehicles for personal and commercial use, such as lifestyle vans, delivery trucks, and pickups. Its vehicles are built on a special platform that has all the essential parts for an EV inside it.</p> 
<p>Moreover, Canoo Inc. (GOEV) stock’s market capitalization is $302.401 Million and the shares float is 502.253 Million. Canoo has a debt-to-equity ratio of 24.3%, as reported by Simply Wall St. This implies that it has less debt than equity, which is the difference between its total assets of $522.10 Million and total liabilities of $289.35 Million. Canoo’s debt is $56.58 Million, while its equity is $232.75 Million.</p> 
<p>Canoo stock has not performed well in the last three months, decreasing by 16.35% and by 21.32% in the last six months. Canoo Inc. (NASDAQ: GOEV) stock has a negative year-to-date return of 62.46% and a negative one-year return of 80.77%. The average volume is 35.012 K and the current volume is 64.833 K where the current volume is above the 10-day average volume.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-technical-analysis-of-goev-stock-price-in-1-d-timeframe-strong"><strong>Technical Analysis of GOEV Stock Price in 1-D Timeframe</strong></h2> 
<p>The price action shows that Canoo Inc. (NASDAQ: GOEV) stock price is falling from February 2023 from $1.5 and it is noticed on the charts that it is moving in a parallel channel by making lower highs and lower lows.&nbsp;</p> 
<p>At the time of writing, GOEV stock is trading at around $0.4768 and facing strong resistance from the downward trendline on the charts the charts are strongly displaying strong selling. The stock has depleted almost all of it as it reached from ATH of $25 to the CMP in GOEV stock.</p> 
<p>Therefore, if the GOEV price fails to sustain the current level and drops, it might hit the nearest support level of $0.42.</p> 
<p>However, if it maintains the current level, the GOEV price could continue to move upward and reach the first and second resistances of $0.65.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
  <img decoding="async" loading="lazy" width="1024" height="566" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-610-1024x566.png" alt="GOEV Stock Forecast: Can (NASDAQ: GOEV) Break Above Trendline?" class="wp-image-169835" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-610-1024x566.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-610-300x166.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-610-768x424.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-610-750x414.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-610-1140x630.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-610.png 1461w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source: GOEV.1D.NASDAQ by TradingView
  </figcaption>
 </figure>
</div> 
<p>At the time of publishing, Canoo Inc. (NASDAQ: GOEV) is trading below the major 20, and 50-day EMA (exponential moving averages).&nbsp;</p> 
<p>The MACD line at 0.0193 and signal line at 0.0097 are below the zero line and both lines have crossed each other frequently showing lean histogram indicating neutrality.</p> 
<p>The current value of RSI is 41.27 points. The 14 SMA is below the median line at 47.53 points which indicates that GOEV stock is in bearish territory.</p> 
<p>Collectively, it may be presumed that the <a href="https://www.thecoinrepublic.com/2023/09/13/goev-stock-is-canoo-stock-ready-to-bounce-back-above-1-mark/" target="_blank" rel="noreferrer noopener">stock</a> has neutral to bearish sentiment.</p> 
<h4 class="wp-block-heading"><strong>Summary</strong></h4> 
<p>Canoo Inc. (NASDAQ: GOEV) chart indicates that the traders and investors of the stock price are neutral to bearish of its movement on the 1-D time frame. The <a href="https://www.thecoinrepublic.com/2023/09/13/goev-stock-is-canoo-stock-ready-to-bounce-back-above-1-mark/" target="_blank" rel="noreferrer noopener">price</a> action shows a bearish outlook at the time of publishing. Moreover, the technical analysis tools of GOEV stock price also show traits of consolidation to bearish.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li><strong>Support level</strong>: $0.42</li> 
 <li><strong>Resistance level:</strong> $0.65</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.</p>

GOEV Stock Forecast: Can (NASDAQ: GOEV) Break Above Trendline?

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