Last week, an AI trading robot produced a 20.51% increase in EVGO's earnings.
This AI trading robot, accessible at Swing trader: Deep Trend Analysis v.2 (TA), was one of the best in our robot factory, generating 20.51% for EVGO over the course of the previous week.
Last week, an AI trading robot produced a remarkable 20.51% increase in $EVGO's earnings. However, as a technical analyst, it is essential to examine the current trend of the stock to determine its potential future direction.
One critical indicator to look at is the moving average, which is a commonly used technical analysis tool that helps traders identify trend changes. The 10-day moving average for $EVGO crossed bearishly below the 50-day moving average on March 17, 2023. This indicates that the trend has shifted lower and could be considered a sell signal.
It's worth noting that the crossover of the 10-day moving average below the 50-day moving average is known as the "death cross" in technical analysis circles, and it is often considered a bearish sign. It suggests that the stock's momentum has shifted from bullish to bearish, which can lead to a sustained downtrend.
However, it's important to note that past performance does not guarantee future results. In 5 of 5 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. This could mean that there's a possibility that the current downtrend could be a short-term phenomenon, and the stock could continue to perform well in the future.
Despite this, it's worth noting that the odds of a continued downward trend are high, with a 90% chance that the stock will continue to decline. It is important to approach trading with caution and to use a combination of fundamental and technical analysis tools to make informed trading decisions.
The recent success of an AI trading robot in increasing $EVGO's earnings is impressive, but as a technical analyst, it's essential to look beyond short-term gains and assess the stock's trend. The bearish crossover of the moving averages suggests that caution is warranted, and traders should be wary of a sustained downtrend. Nevertheless, past performance is not a guarantee of future results, and it's important to use a combination of technical and fundamental analysis to make informed trading decisions.
EVGO's RSI Oscillator climbs out of oversold territory
The RSI Indicator for EVGO moved out of oversold territory on November 18, 2024. This could be a sign that the stock is shifting from a downward trend to an upward trend. Traders may want to buy the stock or call options. The A.I.dvisor looked at 29 similar instances when the indicator left oversold territory. In of the 29 cases the stock moved higher. This puts the odds of a move higher at .
Technical Analysis (Indicators)
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on November 21, 2024. You may want to consider a long position or call options on EVGO as a result. In of 70 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for EVGO just turned positive on November 25, 2024. Looking at past instances where EVGO's MACD turned positive, the stock continued to rise in of 34 cases over the following month. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where EVGO advanced for three days, in of 188 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.
The Aroon Indicator entered an Uptrend today. In of 151 cases where EVGO Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
Bearish Trend Analysis
The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In of 51 cases where EVGO's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are .
EVGO moved below its 50-day moving average on December 03, 2024 date and that indicates a change from an upward trend to a downward trend.
The 10-day moving average for EVGO crossed bearishly below the 50-day moving average on November 15, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In of 10 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 Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. EVGO’s price grows at a higher 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 slightly 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 (12.239). P/E Ratio (0.000) is within average values for comparable stocks, (36.451). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (2.650). EVGO has a moderately low Dividend Yield (0.000) as compared to the industry average of (0.034). P/S Ratio (1.356) is also within normal values, averaging (18.957).
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 75, placing this stock worse than average.
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