Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>GOEV stock chart shows a downturn and fell toward the support zone of $0.4000.</a> </li> 
 <li> <span>2</span> <a>Canoo stock chart has shown the lower low pattern over the past sessions.</a> </li> 
</ul> 
<p>Canoo stock (NASDAQ: GOEV) price is in a downtrend, highlighting sellers’ interest in the past sessions. Moreover, the price action also signifies the same and suggests that further follow-on selling can be anticipated, pushing GOEV stock toward $0.3500 soon. However, the chart shows a descending triangle pattern, and the price is close to the lower neckline of $0.4400, where bears persisted in breaking down. The bulls have held on to the gains and are looking for a decisive bounce to trap the bears.</p> 
<p>GOEV stock price is below the significant moving averages and showcases a downtrend on the charts. Moreover, the chart suggests seller dominance and favouring a further selloff. However, GOEV stock price made a triple bottom and is in a dilemma now. If buyers show interest, a healthy reversal will come and smash the trendline of $0.5000 soon. Furthermore, the lower lows formation shows that buyers lost momentum and needed strength to retain the 20-day EMA.</p> 
<p>At press time, GOEV stock price is trading at $0.4433 with an intraday drop of 2.16%, showing a negative outlook in the past sessions. Furthermore, the trading volume increased by 2.87% to 19.989 million, and the market cap is $281.155 Million. However, analysts maintained a strong buy rating with a yearly target price of $3.1100, suggesting a strong growth outlook for the upcoming sessions. However, GOEV stock is near the demand zone and has corrected in the past months. A decent comeback and fresh recovery would be anticipated from there.</p> 
<p>Canoo, Inc. manufactures electric vehicles. It designed a modular electric platform purpose-built to deliver maximum vehicle interior space and adaptable to support a wide range of vehicle applications for consumers and businesses. The company was founded in August 2018 and is headquartered in Torrance, CA.</p> 
<h2 class="wp-block-heading" id="strong-goev-stock-in-dilemma-will-rebound-or-fall-strong"><strong>GOEV Stock In Dilemma, Will Rebound or Fall?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh3.googleusercontent.com/1Noh_BHX6g7QfqX9FeJ8_ae1PQ36OHM8oOKWMY60kGy9FMcQSs9ekaB8gltQbXJG5rnmhgqFILBysLxfuSyJ87ACdg0ruSURM9fIIqPDgewWYfj9O0wDMv2GiawuRb-WXIswW7qIvxoZGQc5F6_z-_A" alt="Canoo Stock (NASDAQ: GOEV) In Downtrend, Will GOEV Bounce off?"> 
  <figcaption class="wp-element-caption">
    Source: GOEV Stock Price Chart At TradingView 
  </figcaption> 
 </figure> 
</div> 
<p>On the daily charts, <a href="https://www.thecoinrepublic.com/2023/09/13/goev-stock-is-canoo-stock-ready-to-bounce-back-above-1-mark/" rel="noopener noreferrer nofollow">GOEV stock price</a> shows a narrow range consolidation and is waiting for a decisive move either to rebound toward the 20-day EMA or a break below the neckline of $0.4400. Canoo stock is likely to attain momentum to surpass the upper trendline of $0.5000 and may pick up the pace to retest the immediate swings of $0.5500 in the following sessions. GOEV stock price action did not suggest any further dip. Buying interest was witnessed in the past sessions.</p> 
<p>The RSI curve is near neutrality and showed a bullish divergence, suggesting a significant recovery toward $0.5000 in the upcoming sessions.</p> 
<p>The MACD shows neutrality, and the MA line converges with the signal line, indicating lower investor interest for the past sessions.</p> 
<h4 class="wp-block-heading"><strong>Summary&nbsp;&nbsp;</strong></h4> 
<p>Canoo stock (NASDAQ: GOEV) price fell toward the lower neckline, making a triple bottom pattern on the daily charts. Moreover, the chart shows that the price is now consolidating instead of slipping below the previous lows, suggesting that a decent comeback toward the upper trendline of $0.5000 is anticipated. Furthermore, the trend is intact with buying accumulation noted in the past number of sessions.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<p>Support Levels: $0.4000 and $0.2500</p> 
<p>Resistance Levels: $0.5000 and $0.6500</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.</p>

Canoo Stock (NASDAQ: GOEV) In Downtrend, Will GOEV Bounce off?

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