Resistance

Million

Time

<ul class="list-ic vertical">
 <li><span>1</span> <a>EVGO stock price is below the 50, 100, and 200-day moving averages.</a></li>
 <li><span>2</span> <a>EVgo Inc. (NASDAQ: EVGO) is witnessing bearish pressure as it broke the crucial support zone of $3.50.</a></li>
</ul>
<p>EVGO stock price shows signs of bearishness, losing momentum below the key moving averages. The stock price had a brief breakdown below the $3.50 trendline as the price was pushed down by the bears. The buyers failed to maintain the momentum and started to exit their positions, resulting in a decline in the stock price.</p>
<p>EVGO stock has been in a downtrend throughout the year, forming lower highs and lower lows patterns, and facing resistance from the upper trendline, which prevented it from breaking out of the trend. The price action indicates that the stock price has been under selling pressure, and the buyers have been passive. On the other hand, the sellers have a strong advantage and continue to make short positions.</p>
<p>At press time, EVGO stock was trading at $3.15 with an intraday minor gain of 0.64%, breaking below the 200-day EMA, showing bearishness on the charts. Moreover, the intraday trading volume is 2.285 Million less than the average 10-day volume of 2.513 Million. The market cap of EVGO stock is 942.44 Million.</p>
<p>Over the span of a week, EVGO stock experienced a decrease of approximately 6.25%, and this decline has been seen in the course of a month, reaching around 22.03%. Looking back over a three-month period, share prices have dropped by about 23.73%, while the decline extended to around 51.09% over the last six months. Furthermore, the stock’s performance throughout the year has been lackluster, with a year-to-date slump of approximately 33.26%.</p>
<h2 class="wp-block-heading" id="strong-technical-analysis-of-evgo-stock-price-in-1-d-time-frame-strong"><strong>Technical Analysis of EVGO Stock Price in 1-D Time Frame</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh5.googleusercontent.com/10KzROYZGLhkzs9jvOVzMwXjO-0MVfjN4VvvgFaKioVdwDq1O2B_vS1zU83QS-kdTW1hMudmqRA4DNQfhLrygJ_F8Y2-0Ci4Q_Vz5kD3v6DM6WGvdqI-P9J0e-bRCokLteAyD99FzOcPA-IBKWxfLn8" alt="EVGO Stock: is it Time to Buy, Sell, or Hold Evgo Stock?">
  <figcaption class="wp-element-caption">
   Source: EVGO.1D.NASDAQ by <a href="https://www.tradingview.com/x/6RQiAM7d/" rel="noopener noreferrer nofollow">TradingView</a>
  </figcaption>
 </figure>
</div>
<p>EVGO stock is currently trading below the 50-day and 200-day SMAs, which are not providing support to the price trend. However, if selling pressure increases, the price could break below these SMAs and move lower.</p>
<p>The RSI indicator is currently at 33.10, which is in the bearish zone. However, the 14-day SMA is above the RSI curve, which is a bearish signal. The MACD indicator is also bearish, with the MACD line crossing below the signal line. This indicates that the stock price is likely to continue to fall in the near future.</p>
<p>Overall, the technical indicators suggest that EVGO <a href="https://www.thecoinrepublic.com/2023/09/23/evgo-inc-will-evgo-stock-sustain-above-3-45-mark-reach-5-00/" target="_blank" rel="noopener noreferrer nofollow">stock</a> is bearish. However, if it can maintain the $3.00 level, it could rise in the long term.</p>
<h4 class="wp-block-heading"><strong>Summary</strong></h4>
<p>EVGO stock price is in a prolonged downtrend and resuming it right now. Key indicators like MACD, RSI, and EMAs also indicate bearishness in upcoming sessions. The current scenario requires traders and investors to be patient and look for a clear break below or above the range before making any moves and avoid the fear of missing out to minimize losses.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<ul>
 <li><strong>Support Level</strong>: $3.00.</li>
 <li><strong>Resistance Levels:</strong> $4.23 and $3.87.</li>
</ul>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions.</p>

EVGO Stock: is it Time to Buy, Sell, or Hold Evgo Stock?

Table of Contents

Thecoinrepublic.com

Other articles published on Oct 5, 2023

Crypto fundraising hits three-year low in Q3 2023

MATIC Price Analysis: Will MATIC Regain $1 Mark This Year?

Former BlackRock executives: SEC has no choice but to approve Bitcoin ETFs

DECENOMY announces strategic expansion into Gulf countries

Fantom Price Prediction: Will FTM Show A Comeback in October?

Australian police seize $1.5m in crypto from dark web drug dealer

Join our free newsletter for daily crypto updates!