Resistance

Change

Time

<ul class="list-ic vertical">
 <li><span>1</span> <a>The ChargePoint stock price is currently trading at $4.09 with a drop of 5.10% in the last 24 hours with CHPT having a current market cap of $1.473 Million.</a></li>
 <li><span>2</span> <a>ChargePoint stock price is below the key moving averages.</a></li>
</ul>
<p>ChargePoint stock price has been on a downtrend throughout the year, as it faced resistance from the higher levels and formed lower lows. This shows that the bears have been in control and the stock lost momentum. The stock broke below the key moving averages, which indicates further weakness.</p>
<p>Technical analysis suggests that the stock is oversold and could bounce back from the lower levels. However, the stock needs to show some signs of strength and reversal before confirming a pullback rally.</p>
<p>ChargePoint share (NYSE: CHPT) price is in a correction phase but trading near to crucial support of $4.00. If formed, a bullish candle indicates buyers are active and will try their best to rebound. CHPT stock price closed the previous session at $4.09 with an intraday down of -5.10%.</p>
<p>If buyers succeed in defending the current support, then the possibility of a bounce back will increase. However, if the sell-off continues and ChargePoint stock drops below lower levels, more downfall is possible.</p>
<p>Buyers tried multiple times to break the higher range and expand upwards. However, due to the strong presence of sellers, prices faced rejection. It shows sellers are still active on higher levels.&nbsp;</p>
<h2 class="wp-block-heading" id="strong-technical-analysis-of-chargepoint-stock-price-in-1-d-time-frame-strong"><strong>Technical Analysis of ChargePoint Stock Price in 1-D Time Frame</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh3.googleusercontent.com/oio9fGTqDbiEkCwMKlPQeQ6l9nubBRdUiDlR6tRNoexby_r7h_2OepVSHyoK9DD3yXWL0BgPpsU8txJoDGIWL-H4MfVfz4n4yRoXYkj1YBaAJuqjXxg47B4BKLyI99w3Qf003bZ8BLQl4d--ajuraQM" alt="ChargePoint Stock: Will CHPT Stock Change the Game in Oct 2023?">
  <figcaption class="wp-element-caption">
   Source: ChargePoint.1D.NYSE by TradingView
  </figcaption>
 </figure>
</div>
<p>ChargePoint price is below the downward-sloping 50-day and 200-day EMAs showcasing a downtrend. However, the ChargePoint price has gone far away from the EMAs.&nbsp;</p>
<p>The MACD generated a negative crossover and the histogram is also red, indicating bearishness.The current value of RSI is 22.15 points. The 14 SMA is above the median line at 23.80 points which indicates that the ChargePoint stock is bearish.</p>
<h3 class="wp-block-heading" id="strong-weekly-time-horizon-analysis-strong"><strong>Weekly-Time Horizon Analysis</strong></h3>
<p>ChargePoint stock has shown sellers’ strength on the weekly charts.&nbsp; Moreover, the price is below the key EMAs, which shows further weakness in the <a href="https://www.thecoinrepublic.com/2023/10/06/chargepoint-holdings-inc-will-chpt-stock-rebound-for-6-35-mark/" target="_blank" rel="noopener noreferrer nofollow">stock</a>. The RSI curve is near the oversold region at 27, and a negative outlook was noted, indicating bearishness in the stock. The MACD indicator also persisted to form red bars, and a bearish crossover was noted, which signals corrective moves.</p>
<h4 class="wp-block-heading"><strong>Summary</strong></h4>
<p>ChargePoint (NYSE: CHPT) technical oscillators also support the bearish trend. The MACD, RSI, and EMA are emphasizing negative signs and imply that the downtrend may continue in the CHPT stock price. ChargePoint price action suggests that the investors and traders are bearish on the 1-day time frame. The price action reflects a bearish perspective at the moment.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<ul>
 <li><strong>Support Levels:</strong> $4.00 and $3.00</li>
 <li><strong>Resistance Levels </strong>$6.10 and $5.00, where it could reverse or consolidate.</li>
</ul>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>This article is for informational purposes only and provides no 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>

ChargePoint Stock: Will CHPT Stock Change the Game in Oct 2023?

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Thecoinrepublic.com

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