EVGO Technical Analysis - EVGO INC

Technical Rating and Analysis

We assign a technical rating of 5 out of 10 to EVGO. In the last year, EVGO was a bad performer. We also see some doubts in the very recent evolution, but in the medium term things still look positive.

86% of all other stocks performed better in the past year than EVGO.

EVGO is one of the lesser performing stocks in the Specialty Retail industry. 66% of 120 stocks in the same industry do better.

EVGO is currently trading in the lower part of its 52 week range, which is not a good signal. Certainly not because the S&P500 Index is trading near new highs.

In the last month EVGO has a been trading in the 4.25 - 5.18 range, which is quite wide. It is currently trading near the lows of this range.

Prices have been falling strongly lately, it is better to avoid new long positions here.

The short term is neutral, but the long term trend is still positive. Not much to worry about for now.

EVGO has an average volume of 4108170 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

Setup Rating and Analysis

Although the technical rating is only medium, EVGO does present a nice setup opportunity. Prices have been consolidating lately. There is very little resistance above the current price. There is a support zone below the current price at 4.26, a Stop Loss order could be placed below this zone.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

2.81

4.86

3 important support areas can be observed.

Support @3.92 from a trend line in the daily time frame.
Support @3.79 from a trend line in the weekly time frame.
Support @2.84 from a trend line in the weekly time frame.

When analyzing the resistance we notice 2 important areas.

A resistance zone ranging from 4.24 to 4.30. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
Resistance @4.81 from a horizontal line in the daily time frame.

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Technical Indicator Signal Analysis

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	UP	POSITIVE	The long term trend for EVGO is up.
ChartMill Short Term Trend Indicator	NEUTRAL	NEUTRAL	The short term trend for EVGO is neutral.
ChartMill Relative Strength	14.66	NEGATIVE	EVGO has a low relative strength, it was outperformed by 85.34% off all stocks on the market.
Simple Moving Average/SMA (20)	DOWN	NEGATIVE	The current price of EVGO is below a declining SMA(20).
Simple Moving Average/SMA (50)	UP	MIXED	The current price of EVGO is below the rising SMA(50).
Simple Moving Average/SMA (200)	UP	POSITIVE	The current price of EVGO is above the rising SMA(200).
Relative Strength Index/RSI (14)	44.87	NEUTRAL	The RSI value for EVGO is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-0.07	NEGATIVE	The MACD value suggests EVGO has a negative trend.
Stochastics (14,3)	22.62	NEUTRAL	The Stochastics value for EVGO is a neutral value.
Average True Range in percent/ATR (20)	7.45	HIGH VOLATILITY	The high ATR as a percentage value for EVGO suggests high volalility.
Average Directional Index/ADX (14)	29.43	POSITIVE	The high ADX value value for EVGO suggests a strong trend.