CHPT stock price has been slipping through the falling wedge pattern since September 2022 and it has broken out successfully. The shares of ChargePoint Holdings Inc got the potential to surge towards its recovery phase and might recover maximum during 2023, analysts. Meanwhile, CHPT shareholders have experienced an interesting roller coaster ride while the pump and dump story continued for XHPT stocks. CHPT share price was trying to bounce back towards the upper price range of the consolidation phase over the daily time frame chart. CHPT share price has been consolidating inside the price range of $10.50 and $12.80.
CHPT stock price was at $11.50 and has gained around 2.13% of its market capitalization during the day’s trading session. However, trading volume is still below average and needs to grow during the intraday trading session.
CHPT stock price has been declining through the falling wedge pattern since September 2022 over the daily time frame chart. CHPT share price might rally during 2023 as analysts from a bigger financial institution believe in CHPT shares. Meanwhile, some statements are also being coined in the market about the CHPT stock that the ChargePoint stocks are the ones to charge the EV market stocks like RVN and Evgo. Meanwhile, CHPT shares are trying to sustain at 20 and 50-EMA while trading below 100 and 200-days Daily Moving Average.
When will CHPT Stock Price Reach $20?
CHPT stock price to rally during 2023 and reach $20 valuation by the mid 2023 according to the analysts. The CHPT shares need to break out of the consolidation phase initially to activate its recovery phase by sustaining above the horizontal range-bound area. Meanwhile, technical indicators suggest the uptrend momentum of CHPT shares.
Relative Strength Index showcases the upside trend of CHPT stocks. RSI was at 49 and was ready to break out of neutrality to reach overbought territory. MACD exhibits the sustainability of CHPT stocks. The MACD line is trying to sustain and revert towards the signal line for a positive crossover. Investors in CHPT stocks need to wait until the stock price soars and breaks out of the consolidation phase over the daily time frame chart.
Summary
CHPT stock price has been slipping through the falling wedge pattern since September 2022 and it has broken out successfully. The shares of ChargePoint Holdings Inc got the potential to surge towards its recovery phase and might recover maximum during 2023, analysts. CHPT share price might rally during 2023 as analysts from a bigger financial institution believe in CHPT shares. The CHPT shares need to break out of the consolidation phase initially to activate its recovery phase by sustaining above the horizontal range-bound area. Meanwhile, technical indicators suggest the uptrend momentum of CHPT shares.
Technical Levels
Resistance Levels: $12.80 and $20.00
Support Levels: $10.50 and $10.00
