CHARGEPOINT HOLDINGS INC (CHPT) Stock Technical Analysis
NYSE:CHPT - New York Stock Exchange, Inc. - US15961R1059 - Common Stock - Currency: USD
Overall CHPT gets a technical rating of 3 out of 10. In the past year, CHPT was a below average performing stock in the market. The medium term picture is also negative, but we see some improvement happening in recent action.
Although the technical rating is bad, CHPT does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 0.76. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 0.69, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for CHPT in the last couple of days, which is a good sign. Another positive sign is the recent Pocket Pivot signal.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
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When analyzing the support we notice one important area.
- A support zone ranging from 0.67 to 0.69. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
When analyzing the resistance we notice 4 important areas.
- A resistance zone ranging from 0.73 to 0.74. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A resistance zone ranging from 0.76 to 0.76. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @0.79 from a trend line in the daily time frame.
- Resistance @1.32 from a trend line in the weekly time frame.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | DOWN | NEGATIVE | The long term trend for CHPT is down. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for CHPT is neutral. |
| ChartMill Relative Strength | 10.24 | NEGATIVE | CHPT has a low relative strength, it was outperformed by 89.76% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of CHPT is below the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of CHPT is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of CHPT is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 48.71 | NEUTRAL | The RSI value for CHPT is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | NEGATIVE | The MACD value suggests CHPT has a negative trend. |
| Stochastics (14,3) | 32.39 | NEUTRAL | The Stochastics value for CHPT is a neutral value. |
| Average True Range in percent/ATR (20) | 10.51 | HIGH VOLATILITY | The high ATR as a percentage value for CHPT suggests high volalility. |
| Average Directional Index/ADX (14) | 12.98 | NEGATIVE | The low ADX value for CHPT suggests a weak or negative trend. |
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