Changer

Momentum

Million

Resistance

Gains

<ul class="list-ic vertical">
 <li><span>1</span> <a>Fisker stock price surged more than 5% intraday on Tuesday and currently trades at $6.63.</a></li>
 <li><span>2</span> <a>Fisker share (NYSE: FSR) price is hovering in a symmetrical triangle pattern and is currently at the tip of a breakout.&nbsp;</a></li>
 <li><span>3</span> <a>Fisker Inc. is yet to announce quarterly results on Wednesday, 1st November.&nbsp;</a></li>
</ul>
<p>Fisker Inc. stock price witnessed a gain of 5.50% in intraday on Tuesday contracting its range hovering in a symmetrical triangle pattern. Currently, the FSR stock has bounced back from the lower trendline of the symmetrical triangle pattern indicating bullish dominance at the lower levels.&nbsp;<br><br>The price trend analysis demonstrates that the stock elaborates on a volatile trajectory with major ups and downs in the last two quarters. The stock price has been in a time-bound correction phase and has illustrated a sideways trend in the symmetrical triangle pattern.</p>
<p>Furthermore, the Automobile company is yet to disclose quarterly results on Wednesday, 1st November post which the stock price may experience a rally on either side. The Wall Street analysts are expecting a revenue of $279.19 Million and a -$0.192 Million in earnings.&nbsp;</p>
<p>The FSR stock price trades at the tip of the breakout of the symmetrical triangle pattern. The breakout may invite more speculators in the market and the stock may experience a price hike of over 10-20%. The breakdown of the pattern may drag the price to the lower levels.&nbsp;&nbsp;</p>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" loading="lazy" width="1447" height="766" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-328.png" alt="Fisker Stock Gains 5%: Can October Be The Game Changer For FSR?" class="wp-image-175056" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-328.png 1447w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-328-300x159.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-328-1024x542.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-328-768x407.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-328-750x397.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-328-1140x603.png 1140w" sizes="(max-width: 1447px) 100vw, 1447px">
  <figcaption class="wp-element-caption">
   Source: barchart.com
  </figcaption>
 </figure>
</div>
<p><a href="https://www.thecoinrepublic.com/2023/10/07/will-fisker-ocean-lead-to-a-flip-in-fortune-of-fiskers-share/" target="_blank" rel="noopener noreferrer nofollow">Fisker stock</a> derivatives data analysis states that the current implied volatility in the market is 91.27% with an increment of 0.61% in the last trading session. The at-the-money strike price has 2,932 open contracts on the PUT side and 2,011 open contracts on the CALL side indicating the dominance of buyers at the CMP.&nbsp;&nbsp;</p>
<h2 class="wp-block-heading" id="strong-fisker-stock-price-forecast-for-2023-strong"><strong>Fisker Stock Price Forecast For 2023</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" loading="lazy" width="1482" height="726" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-326.png" alt="Fisker Stock Gains 5%: Can October Be The Game Changer For FSR?" class="wp-image-175054" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-326.png 1482w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-326-300x147.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-326-1024x502.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-326-768x376.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-326-750x367.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-326-1140x558.png 1140w" sizes="(max-width: 1482px) 100vw, 1482px">
  <figcaption class="wp-element-caption">
   Source: FSR 1D. NYSE By <a href="https://www.tradingview.com/x/3wB4g70u/" rel="noopener noreferrer nofollow">TradingView</a>
  </figcaption>
 </figure>
</div>
<p>The average analyst price target for Fisker stock in 2023 is $9.28 which represents a potential upside of 46.57% from the current price. However, there is a wide range of analyst price targets between $4 to $19.</p>
<p>The most optimistic analysts believe that Fisker stock could reach $19 in 2023 if the global technology-enabled automotive industry grows strongly and Fisker is able to successfully launch new products.</p>
<h3 class="wp-block-heading" id="strong-technical-indicators-signal-momentum-in-buying-strong"><strong>Technical Indicators Signal Momentum in Buying</strong></h3>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" loading="lazy" width="1600" height="713" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-327.png" alt="" class="wp-image-175055" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-327.png 1600w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-327-300x134.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-327-1024x456.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-327-768x342.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-327-1536x684.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-327-750x334.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-327-1140x508.png 1140w" sizes="(max-width: 1600px) 100vw, 1600px">
  <figcaption class="wp-element-caption">
   Source: FSR 1D. NYSE By <a href="https://www.tradingview.com/x/3wB4g70u/" rel="noopener noreferrer nofollow">TradingView</a>
  </figcaption>
 </figure>
</div>
<p>The overall technical indicators including RSI and MACD opinion rating for the <a href="https://www.thecoinrepublic.com/2023/10/07/will-fisker-ocean-lead-to-a-flip-in-fortune-of-fiskers-share/" target="_blank" rel="noopener noreferrer nofollow">FSR stock</a> is a 48% “buy” with a weakening short-term outlook on maintaining the current trend.&nbsp;&nbsp;</p>
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4>
<p>Fisker stock is in a symmetrical triangle pattern and gained 5.5% on Tuesday. The price bounced from the lower trendline, showing bullish strength. The price may break out of the pattern after the quarterly results on Wednesday, which is expected to show a revenue of $279.19 Million and a loss of -$0.192 Million.&nbsp;</p>
<p>Analysts have a wide range of price targets for 2023, between $4 to $19. The highest target implies a strong growth in the technology-enabled automotive industry and new product launches by Fisker. The average target is $9.28, a 47% upside from the current price.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<ul>
 <li><strong>Support Levels:</strong> $5.36 and $4.78</li>
 <li><strong>Resistance Levels:</strong> $7.05 and $7.96.</li>
</ul>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.&nbsp;</p>

Fisker Stock Gains 5%: Can October Be The Game Changer For FSR?

Table of Contents

Thecoinrepublic.com

Other articles published on Oct 11, 2023

Google Threatens News Block in Canada: A Game of Chicken with Meta

The Brazilian Congress is considering charging Binance CEO CZ.

Palestinian terrorists raised over $100 million in cryptocurrency donations since 2021: Report

Jim Cramer believes ‘Bitcoin is about to go down big’

CSCO Stock: Will (NASDAQ: CSCO) Price Capture $60 and More?

Polygon proposes ApeChain and $3.35m dev fund

Join our free newsletter for daily crypto updates!