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- CHPT stock price has failed to recover and has been moving in a range for a long time
- ChargePoint Holdings Inc (CHPT) Shares have been slipping and has seen a fall of more than 30% in the past few months
CHPT, or ChargePoint Holdings, Inc., is a leading provider of electric vehicle (EV) charging infrastructure solutions. The company operates a network of over 115,000 charging ports across North America and Europe, serving both individual EV owners and commercial fleet operators. It has been a topic of interest in the financial world in recent years, as the company has shown impressive growth and potential in the rapidly expanding EV market.
The company went public through a special purpose acquisition company (SPAC) merger in March 2021, and its stock price has seen significant fluctuations since then. CHPT’s stock price has been impacted by factors such as supply chain disruptions and increased competition in the EV charging market. However, the company’s long-term growth potential remains strong. The global transition towards electric system continues to grow year by year. The company has a strong brand reputation and a wide network of charging stations, which gives it a competitive advantage over its peers.
CHPT has a market cap of $4.75 Billion with a negative EPS as per Yahoo Finance. Various analysts are expecting a rise in the CHPT in the future.
Will CHPT Stock Price Hit The $20 Soon?
CHPT stock price may see a rally to $20 in mid of 2023 as per various analysts. The weekly technical chart of the CHPT suggests a consolidated trend in price. On the daily chart it is trading near the value of $12.22 with a drop of 3.25% in the intraday session. It is trading above the demand zone and can act as a support. Resistance of the CHPT stock price can be seen near$20.Meanwhile the support of the asset price can be seen near $8. It is currently trading above the 50 and Daily Moving Average. Meanwhile, 100 DMA can act as a support of the price.
RSI of the CHPT is near 53 suggesting its presence in the oversold zone.There is a downside slope which can push the asset price to a new high.
Conclusion
CHPT stock price has been slipping for a long time in a wedge pattern. Analysts are predicting a growth in CHPT stock in mid 2023. CHPT stock has failed to make a breakout but can see a new high in the future.
Technical Levels
Major Support: $8
Major Resistance: $18
Disclaimer
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Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
