- 1
Fisker Inc (NYSE: FSR) stock price reacted negatively after it announced partnership with Chargepoint Holdings (NYSE: CHPT) - 2
Fisker Inc stock price hits 52 week at $5.59 and down by 18.62% on the weekly basis - 3
Fisker Inc Q4 earnings estimate remains negative at $0.42 and revenue at 2.51M
Fisker Inc (NYSE: FSR) stock price has fallen sharply and created a new 52 week low which clearly shows that the trend is down and bears are continuing their dominance on the higher levels.
Electric vehicle manufacturer Fisker Inc had recently announced a collaboration with ChargePoint Holdings (NYSE: CHPT) to provide a charging solution for the EV vehicles in North America which can turn out to be a win-win situation for both the companies in the long run. However, the stock prices of both companies have got negatively affected from this news which is quite surprising for all.
In the previous session NYSE: FSR stock price closed at $5.68 with the intraday loss of 8.39% and market cap stood at $1.772B
Will Fisker stock price hit a new 52 week low after earnings?
Fisker Inc (NYSE: FSR) stock price is in a downtrend and collapsing down by forming lower low swings which created a panic scenario and investors seem to be cashing out their investment ahead of quarter 4 earnings. Recently, Fisker Inc announced a partnership with ChargePoint Holdings Inc (CHPT) to provide public charging solutions which can benefit both companies in the long run but as of now, FSR prices have reacted negatively and breakdown the important support level of $6.41
From the past couple of months, Fisker Inc stock prices are consolidating in the wide range between $6.41 to $8.83 and bulls have tried multiple times to keep the prices above the 50 day EMA but unfortunately prices keep on getting rejection form the higher levels indicates that the strong bears are active on the supply zone and positional trend remains on the bears grip. Meanwhile the FSR prices had also broken down its lower range of consolidation which has triggered the panic scenario and prices collapsed down with the huge momentum. However, Q4 earnings are scheduled today and if FSR succeeds to beat the analyst estimates then we might see a sharp bounce back from the lower levels. On the other hand, If a company fails to beat the Q4 estimates then it will surely create trouble for the bullish traders.
The technical indicators of the Fisker stock like MACD has generated a negative crossover indicating bearishness to continue for some more time whereas the RSI at 33 sloping down denotes that the prices are near to the oversold zone and might trigger a short term relief rally from the lower levels.
Summary
Fisker Inc (NYSE: FSR) stock price has fallen with the high momentum and created a new 52 week low which shows that the investors lacked the confidence in the company and more downside is possible. However, the Q4 earnings are scheduled today and if FSR beat the market estimates then we might expect some short term relief rally from the support levels.
Technical levels
Resistance levels : $8.83 and $10.00
Support levels : $5.00 and $4.50
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2023/02/27/fisker-inc-nyse-fsr-stock-hit-52-week-low-ahead-of-q4-earnings/