AI Trading Robot Generates 4.57 % PROFIT for EVGO Last Week: A Technical Analysis
Last week, EVGO's AI Trading Robot recorded a notable profit of 4.57%, impressing investors and reinforcing the value of artificial intelligence in the stock market. This happened despite certain technical indicators signaling potential downward pressure on the stock's price. The specifics of these indicators and how the AI managed to generate profit nonetheless make for an interesting analysis.
One of the indicators, the Aroon Indicator for EVGO, entered a downward trend on June 21, 2023. According to Tickeron's AI.dvisor, a pattern was identified in which the AroonDown red line was above 70 while the AroonUp green line was below 30 for three straight days. This pattern typically indicates a potential significant downward move ahead for the stock.
AI.dvisor studied 157 similar instances where the Aroon Indicator formed such a pattern in other stocks. The results showed that in 138 out of the 157 cases, the stock price actually moved lower, putting the odds of a downward move at an intimidating 88%. This could have led traders to consider selling the stock or buying put options to hedge their positions.
However, amidst these warning signs, the AI Trading Robot for EVGO generated a noteworthy 4.57% profit, defying the predicted odds. This deviation from the typical response prompts an examination of how the AI Trading Robot could achieve such a result.
The AI Trading Robot employs complex algorithms capable of detecting subtle market patterns and trends, beyond what traditional technical analysis might suggest. It could have recognized other parameters indicating a potential rise in the stock's price, effectively counteracting the Aroon Indicator's prediction.
Moreover, AI Trading Robots can take into account a vast amount of data in real-time, such as order flow, volume, liquidity, and other macroeconomic factors. The ability to swiftly process and react to this data might have allowed the AI Robot to seize short-term trading opportunities, capitalizing on brief price fluctuations that human traders might miss.
Furthermore, the Robot's success could also be attributed to its ability to operate unemotionally and objectively. While human traders may hesitate or make impulsive decisions under pressure from significant market signals, the AI Robot strictly follows its programmed algorithms. This characteristic can provide the machine an advantage in situations of market volatility or unpredictability.
This success story of EVGO's AI Trading Robot provides a valuable lesson for the investment community. It highlights the importance and potential of AI in modern trading, demonstrating how it can navigate and profit from the complex and rapidly changing financial markets, even when traditional indicators suggest otherwise.
However, it's crucial to remember that while AI systems can yield impressive results, they are not infallible. All investments involve risk, and understanding the capabilities and limitations of these systems is key to employing them successfully in one's investment strategy.
As we continue to innovate and advance in the world of AI trading, there is no doubt that AI will play an increasingly vital role in shaping the future of finance and trading.
EVGO sees MACD Histogram crosses below signal line
EVGO saw its Moving Average Convergence Divergence Histogram (MACD) turn negative on September 21, 2023. This is a bearish signal that suggests the stock could decline going forward. Tickeron's A.I.dvisor looked at 23 instances where the indicator turned negative. In of the 23 cases the stock moved lower in the days that followed. This puts the odds of a downward move at .
Technical Analysis (Indicators)
Bearish Trend Analysis
The Momentum Indicator moved below the 0 level on September 15, 2023. You may want to consider selling the stock, shorting the stock, or exploring put options on EVGO as a result. In of 50 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
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 20 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
The Stochastic Oscillator demonstrated that the ticker has stayed in the oversold zone for 1 day, which means it's wise to expect a price bounce in the near future.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where EVGO advanced for three days, in of 129 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 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 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 (12.170). 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 (2.668). EVGO has a moderately low Dividend Yield (0.000) as compared to the industry average of (0.036). P/S Ratio (2.324) is also within normal values, averaging (82.429).
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.
Notable companies
Industry description
Market Cap
High and low price notable news
Volume
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
General Information
Industry SpecialtyStores
| 1 Day | |||
|---|---|---|---|
| MFs / NAME | Price $ | Chg $ | Chg % |
| CGJIX | 48.39 | 0.20 | +0.42% |
| Calvert US Large Cap Growth Rspnb Idx I | |||
| PRMTX | 112.83 | 0.36 | +0.32% |
| T. Rowe Price Comm & Tech Investor | |||
| NRMGX | 13.82 | 0.01 | +0.07% |
| Neuberger Berman Mid Cap Growth R6 | |||
| IRGIX | 8.85 | -0.01 | -0.11% |
| VY® CBRE Global Real Estate I | |||
| TLEIX | 8.01 | -0.03 | -0.37% |
| AMG GW&K Emerging Markets Equity Z | |||
EVGO and
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 58% 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% | -1.95% | ||
| CHPT - EVGO | 58% Loosely correlated | -1.99% | ||
| HNST - EVGO | 51% Loosely correlated | -1.57% | ||
| LE - EVGO | 40% Loosely correlated | +5.01% | ||
| CPRT - EVGO | 39% Loosely correlated | +0.49% | ||
| GME - EVGO | 38% Loosely correlated | +2.85% | ||
More | ||||