- ChargePoint Holdings, Inc. CHPT stock price has been dipping through an interesting pattern over the daily time frame chart.
- Analysts speculate that CHPT share price may skip this falling pattern with a breakout very soon.
- Investors in ChargePoint Holding, Inc. need to wait until the CHPT share price surges out of the declining pattern over the daily price chart.
CHPT stock price has been declining from the last four consecutive trading sessions and must try to revert the current downtrend momentum in the opening of the market. CHP share price may surge out of the falling parallel channel and may surge towards the upper trendline of the falling wedge pattern during the day’s trading session. However, Volume change is still below average and needs to grow for CHPT stock to sustain and try for a trend reversal.
CHPT stock price was at 8.91 and has lost 0.11% of its market capitalization as the continuation of its declining streak. Sellers are continuously raiding the CHP stock and now is the time for buyers to take charge as soon as CHPT price surges towards the upper trendline of the falling pattern.
CHPT stock price has been declining through a falling wedge pattern over the daily time frame chart. CHPT must gain support from the buyers to surge towards the upper trendline of the falling wedge pattern. However, volume change can be seen below acreage and needs to grow in favor of bulls during the day’s trading session. Meanwhile, CHPT share price (NYSE:CHPT) has slipped below 20, 50, 100 and 200-days Daily Moving Average.
Will CHPT Stock Price Break out of this Pattern?
Technical indicators suggest the downtrend momentum of CHPT stock price. Relative Strength Index showcases the downside velocity of CHPT share price. RSI is at 37 and is trading towards oversold territory. MACD exhibits the fall of CHPT share price. The MACD line is below the signal line after a negative crossover. CHPT investors need to wait for any directional change over the daily time frame chart.
Summary
CHPT stock price has been declining from the last four consecutive trading sessions and must try to revert the current downtrend momentum in the opening of the market. CHPT share price has been declining from the last four consecutive trading sessions and must try to revert the current downtrend momentum in the opening of the market. CHPT investors need to wait for any directional change over the daily time frame chart.
Technical Levels
Support Levels: $8.50 and $8.10
Resistance Levels: $9.65 and $11.00
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/2023/01/06/when-will-chargepoint-holdings-inc-chpt-stock-price-skip-this-descending-streak/