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- 1 CHPT stock might register fresh 52 week lows as it is near its previous 52 weeks low.
- 2 ChargePoint Holdings Inc. market capitalization declined over 44% in 2023 compared to this time in 2022.
- 3 The MACD line and signal line are in positive territory and a bounce is expected.
CHPT stock has been declining steadily for the last few days, having lost over 10.52% of its trading value. At the time of publication ChargePoint Holdings Inc. stock was trading at $5.02 with an intraday decline of 1.38%.
ChargePoint Holdings, Inc (CHPT) Stock Price Analysis
In the 52 weeks time frame, CHPT stock price dipped below $5 and the lowest traded price was $4.92. However its highest trading price was $16.60. In a month, CHPT stock lost 29.03% of its price and declined over 49% in the past six months.
At the time of writing, ChargePoint stock was trading equal to 20 and 50 day EMAs and at the same time, it was trading below 100 & 200 day EMAs.
The MACD line along with the signal line is in the positive zone and the histogram is reflecting buyers’ accumulation above the zero line. The RSI line and RSI-based MA line is in bull territory and is reflecting bullish momentum.
ChargePoint Holdings Inc. has a market capitalization of $1.807 Billion. Data from companiesmarketcap(dot) com shows that the market cap of the company declined over 44.49% in 2023 compared to that in 2022.
A bounce in the CHPT stock trading price is expected in the coming days. A major surge in selling volume has been seen since September 23 2023. If sellers continue to dominate, there is a chance that CHPT stock price might fall and register its fresh 52 week low. The nearest support levels visible are $4.92 & $4.50.
TradingView data shows that 270.956 Million CHPT shares are free floating and the remaining 23.13% are closely held. ChargePoint Holdings, Inc. does not pay dividends to its shareholders.
ChargePoint Holdings, Inc Financial Updates
ChargePoint Holdings, Inc. failed to meet analysts’ expectations as its reported revenue was 1.80% lesser than estimated figures. Estimated EPS was negative $0.13, but the reported EPS was negative $0.35, which resulted in a 161.62% decline in the EPS. The expected EPS for the third quarter is negative $0.21 and expected revenue for the next quarter is $159.29 Million.
From the reported revenue of Q2 2023, operating income of the company was negative $123.33 Million, Pretax income was negative $124.35 Million and net income of the company was negative $125.25 Million. Despite the negative sentiments, ChargePoint Holdings, Inc. generated $1.13 Million in gross profit.
Technical Levels
Support Levels: $4.92 & $4.50
Resistance Levels: $5.05 & $5.11
Conclusion:
ChargePoint Holdings, Inc. stock recorded a 10% decline in trading price on the weekly time frame. The decline began on September 15, 2023. Market observers believe that MACD suggests a bullish crossover. At the time of publishing, CHPT stock was trading near its 52 week low and there is a high probability of registering a fresh 52 week low.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
