AI-Driven Trading System Yields +6.01% Increase for EVGO in Last Week
The Swing trader: Deep Trend Analysis v.2 (TA) has demonstrated remarkable performance, achieving a gain of +6.01% while trading EVGO over the previous week. This article delves into the recent earnings results of EVGO and analyzes the implications for investors.
EVGO Breaks Upper Bollinger Band: A Bearish Signal:
On June 7, 2023, EVGO broke above its upper Bollinger Band, a technical indicator used to gauge price volatility. This breakout could potentially be interpreted as a bearish signal for the stock. Typically, when a stock moves back below the upper band and towards the middle band, it suggests a potential drop in price. Investors may want to consider selling the stock or exploring put options as a means to protect their positions.
AI Insights: Historical Analysis and Probability of Success:
Utilizing the power of artificial intelligence, the A.I.dvisor associated with the Swing trader: Deep Trend Analysis v.2 (TA) examined 22 similar instances where EVGO broke above its upper Bollinger Band. Interestingly, in 21 out of the 22 cases, the stock experienced a subsequent decline. This statistical analysis suggests that there is a 90% chance of a similar outcome occurring in this current scenario. Such insights highlight the value of AI in identifying potential trading opportunities and managing risk.
Earnings Report Overview:
The latest earnings report for EVGO, released on May 9, revealed earnings per share of -18 cents, surpassing the estimated value of -20 cents. This positive surprise in earnings performance indicates that the company performed better than anticipated during the reported period. With 713.70K shares outstanding, the current market capitalization of EVGO stands at 433.71M.
Summary:
The utilization of AI trading bots, specifically the Swing trader: Deep Trend Analysis v.2 (TA), has proven to be fruitful for investors involved in trading EVGO. The AI-powered bot factories generated an impressive gain of +6.01% over the previous week. Furthermore, the technical analysis of EVGO breaking above its upper Bollinger Band suggests a potential downward movement in the stock price, with historical data indicating a 90% probability of such an outcome.
Momentum Indicator for EVGO turns negative, indicating new downward trend
EVGO saw its Momentum Indicator move below the 0 level on September 15, 2023. This is an indication that the stock could be shifting in to a new downward move. Traders may want to consider selling the stock or exploring put options. Tickeron's A.I.dvisor looked at 50 similar instances where the indicator turned negative. In of the 50 cases, the stock moved further down in the following days. The odds of a decline are at .
Technical Analysis (Indicators)
Bearish Trend Analysis
The Moving Average Convergence Divergence Histogram (MACD) for EVGO turned negative on September 21, 2023. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 23 similar instances when the indicator turned negative. In of the 23 cases the stock turned lower in the days that followed. This puts the odds of success at .
The 10-day moving average for EVGO crossed bearishly below the 50-day moving average on August 23, 2023. This indicates that the trend has shifted lower and could be considered a sell signal. In of 7 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where EVGO declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
The Aroon Indicator for EVGO entered a downward trend on September 18, 2023. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Bullish Trend Analysis
The RSI Indicator points to a transition from a downward trend to an upward trend -- in cases where EVGO's RSI Indicator exited the oversold zone, of 21 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 5 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where EVGO advanced for three days, in of 131 cases, the price rose further within the following month. The odds of a continued upward trend are .
EVGO may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Fundamental Analysis (Ratings)
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: EVGO's P/B Ratio (90.090) is slightly higher than the industry average of (12.145). P/E Ratio (0.000) is within average values for comparable stocks, (24.638). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (2.673). EVGO has a moderately low Dividend Yield (0.000) as compared to the industry average of (0.036). P/S Ratio (2.143) is also within normal values, averaging (81.831).
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating slightly worse than average price growth. EVGO’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating that the returns do not compensate for the risks. EVGO’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 78, placing this stock worse than average.
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Fundamental Analysis Ratings
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Correlation & Price change
A.I.dvisor indicates that over the last year, EVGO has been loosely correlated with CHPT. These tickers have moved in lockstep 57% of the time. This A.I.-generated data suggests there is some statistical probability that if EVGO jumps, then CHPT could also see price increases.
| Ticker / NAME | Correlation To EVGO | 1D Price Change % | ||
|---|---|---|---|---|
| EVGO | 100% | +2.11% | ||
| CHPT - EVGO | 57% Loosely correlated | -0.20% | ||
| HNST - EVGO | 51% Loosely correlated | +0.80% | ||
| LE - EVGO | 40% Loosely correlated | +0.94% | ||
| CPRT - EVGO | 39% Loosely correlated | -0.76% | ||
| GME - EVGO | 38% Loosely correlated | -2.26% | ||
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