FOMO

Strong

Resistance

<ul class="list-ic vertical">
 <li><span>1</span> <a>GOEV stock price is near a crucial support level.</a></li>
 <li><span>2</span> <a>Canoo stock price trading below the 20, 50, 100, and 200-day moving averages.</a></li>
 <li><span>3</span> <a>As per trading view, analysts are positive about the GOEV stock price.</a></li>
</ul>
<p>GOEV stock failed to sustain at the high of $0.8488 and reversed its direction, resuming the downtrend that indicates further weakness in the market. The market is trading below the dynamic support trendline, which could lead to more downside. The market is in a downtrend on a larger timeframe, as it is creating lower lows.</p>
<p>GOEV stock price has been falling from its peak levels and forming lower-low structures. It is in a bearish trend after breaking below the 50-day and 200-day moving averages. The bearish pressure could push Canoo to form a new lower low soon and extend the downtrend.</p>
<p>The current situation requires traders and investors to be patient and wait for a clear signal of a break above or below the range before making any moves. They should also avoid FOMO and minimize losses.</p>
<p>GOEV stock price fell 7.60% last week. It declined by 30.35% through the month. Furthermore, Canoo shares experienced a drop of roughly 21.80% within the past six months and a decrease of 77.12% over the past year.&nbsp;</p>
<p>Additionally, the Canoo share price has slipped by approximately 66.13% year to date. These trends collectively indicate the challenges faced by GOEV shares in their recovery efforts throughout the year.</p>
<h2 class="wp-block-heading" id="strong-what-analysts-think-about-canoo-stock-price-strong"><strong>What Analysts Think About Canoo Stock Price?</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter size-full"><img decoding="async" loading="lazy" width="1015" height="424" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-95.png" alt="" class="wp-image-173662" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-95.png 1015w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-95-300x125.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-95-768x321.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-95-750x313.png 750w" sizes="(max-width: 1015px) 100vw, 1015px">
  <figcaption class="wp-element-caption">
   Source: Tradingview
  </figcaption>
 </figure>
</div>
<p>There is a strong opinion among 5 analysts who follow GOEV stock. Almost 4 rate GOEV as a Strong Buy, while 1 gives it a hold rating. Canoo stock has an average price target of $3.11, which implies a potential increase of 623.09% from its current price of $0.4301. The price targets vary from a high of $10.00 to a low of $0.5000.</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>
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img decoding="async" loading="lazy" width="1024" height="466" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-94-1024x466.png" alt="" class="wp-image-173661" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-94-1024x466.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-94-300x136.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-94-768x349.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-94-750x341.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-94-1140x519.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-94.png 1433w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source: GOEV.1D.NASDAQ by <a href="https://www.tradingview.com/x/p1rD9vVY/" rel="noopener noreferrer nofollow">TradingView</a>
  </figcaption>
 </figure>
</div>
<p>At the moment, GOEV stock (NASDAQ: Canoo) is trading below the 50 and 200-day SMAs (simple moving averages), which do not support the price trend. If bulls want to make a comeback, they will have to rise and sustain the price above the 20-day EMA. However, the sellers seem to be more aggressive as compared to buyers.</p>
<p>The current value of RSI is 37.24 points. The 14 SMA is above the median line at 41.00 points which indicates that the Canoo stock is bearish.The MACD line at -0.0239 and the signal line at -0.0219 are below the zero line which signals more bearishness for the <a href="https://www.thecoinrepublic.com/2023/09/22/canoo-stock-nasdaq-goev-in-downtrend-will-goev-bounce-off/" rel="noopener noreferrer nofollow">Canoo stock price</a>.</p>
<h4 class="wp-block-heading"><strong>Summary</strong></h4>
<p>GOEV stock price prediction suggests a mild bearish chart. The sellers are dominating on the higher levels. GOEV (NASDAQ: Canoo) technical oscillators also support the bearish trend. The MACD, RSI, and EMAs are emphasizing negative signs and imply that the downtrend may continue in the Canoo stock price. GOEV price action suggests that the investors and traders are bearish on the 1-D time frame. Technical analysis suggests that the Canoo stock price is in a bearish grip and the probability of testing the previous highs in the coming months remains low.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<ul>
 <li><strong>Support Levels</strong>: $0.4116.</li>
 <li><strong>Resistance Levels: </strong>$0.5171 and $0.5874.</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>

GOEV Stock: Will Canoo Stock Rebound From The $0.4111 Level?

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