GEVO Stock Price Prediction: $GEVO Stocks Rally Begins

Gevo stock price got a pump on Friday’s trading session analysts speculate GEVO rally initiates.
GEVO shares tried to sustain at the lower support trendline and put efforts to remain above $1.65.
Gevo Inc stock needs to break out of the $1.93 primary support level in order to surge towards the $5 recovery level.

Gevo stock price has been trying to remain above the lowest support level and getting pumped might initiate its rally, says analysts. GEVO share price needs to surge towards the primary support zone at $1.93 level in order to initiate its full fledged rally, added analysts. Gevo Inc (NASDAQ: GEVO) stocks must sustain above certain levels to maintain its upward trend to reach $5 during mid 2023.

Gevo stock price was at $1.70 and has gained 5.59% of its market capitalization during Friday’s trading session. Trading volume is above average and must maintain this accumulation rate during Monday’s trading session.

Decoding Gevo Inc’s (NASDAQ: GEVO) Business Model:

Gevo, Inc. is a business that specializes in developing technology for renewable fuels and converts renewable energy into energy-dense liquid hydrocarbons for sustainable aviation fuel (SAF). The business is divided into four segments:

Gevo, which concentrates on all R&D initiatives associated with the creation of biocatalysts and isobutanol production; Agri-Energy, which manages the business’s Luverne plant and produces isobutanol, ethanol, and associated goods; Renewable Natural Gas generates renewable electricity from natural gas, and Net-Zero provides carbon offsets.

Gevo stock price has been trying to return back towards the upper resistance level but failed to sustain on 3 March and slipped till current level. Analysts believe that GEVO share price might revert back as GEVO sustains at the lowest level.

However, GEVO share price has dropped around 9.09% in the last week. Analysts speculate that Gevo share price might revert back and initiate its recovery from Monday’s trading session.

In addition, Gevo stock price has slipped below 20, 50, 100 and 200-days Daily Moving Average.

Will GEVO Stock Price Reach $5?

Technical indicators suggest the upside trend of GEVO stock price. Relative strength index showcases the uptrend momentum of GEVO shares. RSI was at 38 and got returned from the oversold territory. MACD exhibits the upward velocity of GEVO stocks. The MACD line is trying to surge towards the signal line for a positive crossover.

Investors in Gevo Inc might experience an incredible rally of GEVO share price during 2023 as reports also claimed the same with some strong evidential basis.

Summary

Gevo stock price has been trying to remain above the lowest support level and getting pumped might initiate its rally, says analysts. Gevo stock price has been trying to return back towards the upper resistance level but failed to sustain on 3 March and slipped till current level.

Analysts speculate that Gevo share price might revert back and initiate its recovery from Monday’s trading session. Technical indicators suggest the upside trend of GEVO share price.

Technical Levels

Support Levels: $1.60 and $1.55

Resistance Levels: $1.93 and $5.00

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 stocks comes with a risk of financial loss.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing