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- 1 CHPT stock price prediction suggests the stock will return from the demand zone to surge toward the $10 recovery level.
- 2 CHPT share price slumped below the 20, 50, 100 and 200-days Daily Moving Averages.
ChargePoint Holdings Inc (NYSE: CHPT) operates the largest online network of independently owned EV charging stations operating in 14 countries.
CHPT stock price may surge optimally getting up from the demand zone to reach the recovery level of $10 per the price action. CHPT stock price has been consolidating inside the horizontal range-bound area over the daily time frame chart. However, trading volume is below average and needs to grow for CHPT shares to register its breakout.
CHPT stock price was at $7.87 and gained 6.06% of its market capitalization during the day’s trading session. However, trading volume is still below average and needs to grow.
Will CHPT Stock Price Reach $10?
CHPT stock price needs to grow with strong momentum to recover optimally through 2023. However, CHPT is rising from its own ashes, like the phoenix! CHPT stock had an interesting roller-coaster ride through the fall during February 2023 till date. This time CHPT shares is inspiring confidence that it will surge from its all time low.
CHPT stock price has lost 9.44% in a week and 5.75% in a month. Moreover, CHPT shares have declined by around 18.53% in the last three months and 6.75% in the last six months. This indicates the bloody past of CHPT shares at the start of the year. Analysts still believe that CHPT stocks may initiate its recovery from the demand zone to surge above the $10 recovery level.
ChargePoint Holdings Inc: Technical Analysis
Technical indicators suggest an uptrend with strong momentum in the CHPT stock price chart. The Relative strength index also showcases the upward momentum of CHPT shares. RSI was at 42 and is heading toward neutrality.
MACD exhibits the sustainability of CHPT stock price at the lowest level. The MACD line is heading toward the signal line for a positive crossover. Investors in CHPT shares need to wait until the stock price sustains and recovers from the demand zone.
Summary
CHPT stock price may surge maximum, getting up from the demand zone to reach the recovery level of $10 over the charts. Presently, CHPT is rising from its own ashes mimicking the phoenix from Greek mythology. Moreover, CHPT shares have declined by around 18.53% in the last three months and 6.75% in the last six months. Technicals suggest an uptrend in the movement of CHPT stock price in the future. Investors in CHPT shares need to wait until the stock price sustains and recovers from the demand zone.
Technical Levels
Resistance Levels: $8.20 and $10.00
Support Levels: $7.40 and $7.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
