EVGO trade ideas
EVgo Stock Soars After Securing $1.05 Billion Government LoanEVgo Inc. (NASDAQ: NASDAQ:EVGO ) made significant strides this past week, soaring more than 50% after receiving a $1.05 billion conditional loan guarantee from the U.S. Department of Energy (DOE) and a major stock upgrade from JPMorgan. This combination of federal support and Wall Street confidence positions EVgo as a prominent player in the electric vehicle (EV) charging industry, a critical segment as the EV revolution continues to take shape.
Key Catalysts
1. $1.05 Billion Loan from the Department of Energy
The loan, which is still conditional, comes from the DOE's Loan Programs Office (LPO) under the innovative clean energy initiative. EVgo (NASDAQ: NASDAQ:EVGO ) plans to use the funds to build around 7,500 additional fast-charging stalls across nearly 1,100 stations in the U.S., a massive step toward its goal of nationwide expansion. The project is set to complete by 2030, significantly enhancing the company’s public EV charging infrastructure.
CEO Badar Khan hailed the DOE's financial support as a "historic investment" that will "meaningfully accelerate" the company's expansion. By focusing on marginalized urban areas and aiming to serve disadvantaged communities, EVgo is not only scaling its charging network but also working toward environmental equity. This aligns with the broader federal initiative of deploying EV chargers every 50 miles along U.S. highways.
2. JPMorgan’s Upgrade
Alongside the government backing, JPMorgan upgraded EVgo’s stock from "neutral" to "outperform," reinstating a price target of $7. The bank highlighted that EVgo’s owner-operator model has scaled well, despite the muted demand in the current EV market. Analysts cited the company’s growing utilization rates and charge rates as key factors that position it ahead of competitors in the next few years.
This vote of confidence from JPMorgan is significant. It suggests that the market expects EVgo to outperform its peers despite the highly competitive EV charging landscape, which includes giants like Tesla’s proprietary charging network.
Technical Outlook
From a technical perspective, EVgo’s stock has shown signs of strong bullish momentum following the announcement. The stock gapped up 61%, confirming a breakout from a period of consolidation. It’s currently trading at $6.32, the highest level since spring 2023, with notable bullish signals.
Bullish Harami Candlestick Pattern:
The daily chart shows a bullish harami, a strong reversal pattern, indicating that momentum may continue upward. This pattern often signals a potential trend reversal, which has been confirmed by the rapid price increase over the past few days.
Relative Strength Index (RSI):
The RSI, currently sitting at 77, signals that the stock is in overbought territory. While this is a bullish indicator, it does raise questions about whether the rally can sustain itself. Overbought levels often trigger profit-taking and cooling-off periods, but in some cases, the rally continues if underlying fundamentals support further growth.
Key Price Levels:
If the rally continues, traders should watch for further upward movement with resistance around $7. At the same time, if the stock starts to cool off, potential support could form near $5.50, based on prior resistance levels.
Future Outlook
EVgo's growth potential is underpinned by strong industry tailwinds. The global push toward clean energy, coupled with government-backed initiatives, creates an environment in which EVgo can thrive. The $1.05 billion loan will be instrumental in allowing the company to scale its operations and serve more EV drivers, particularly in underserved communities that lack home charging solutions.
Additionally, EVgo's ability to compete with larger players like Tesla will hinge on how efficiently it can roll out its fast-charging network and capture market share. Its focus on public charging for ride-sharing services and consumers without home chargers gives the company a niche market to dominate, especially as EV adoption rates increase in the coming years.
EVgo (NASDAQ: NASDAQ:EVGO ) is uniquely positioned to benefit from both public and private sector backing. While the stock’s rapid ascent suggests a bullish outlook, the key will be sustaining momentum as the company implements its ambitious expansion plans. With JPMorgan’s upgrade and the DOE’s loan, investors are clearly optimistic, but all eyes will be on the company’s execution strategy in the months and years ahead.
As EVgo (NASDAQ: NASDAQ:EVGO ) continues its growth trajectory, investors should monitor both fundamental developments—such as the finalization of the loan guarantee and future earnings reports—and technical indicators that could signal potential corrections or further upside.
For now, EVgo’s outlook appears bright, with the company at the forefront of an essential industry driving the future of clean energy and transportation.
Conclusion
EVgo’s 60% surge on the back of a government loan guarantee and JPMorgan upgrade signals a new chapter for the EV charging company. With strong bullish technical patterns and a promising fundamental outlook, the company is poised to capitalize on the growing demand for EV infrastructure. However, with the stock in overbought territory, short-term corrections could offer better entry points for long-term investors looking to ride the clean energy wave.
EVgo update.The share price flew today, up 16%, on the news that the company’s ceo has bought 125,000 shares at $2.00, canny laddie.
Short term chart pattern is forming hh’s and ll’s. Make your own predictions on this chart.
It’s a long way to the top if you wanna rock & roll.
I’m buying a dogNo it’s not a golden retriever or a jack Russell, it’s EVgo.
Price closed on Friday at $1.81, up %5 on the day, off as near as dam it an all time low.
EVgo is the 3rd largest charging company in the USA behind Tesla and Chargepoint. Revenue has grown impressively since it’s inception beating estimates for the last four quarters. Take a look for yourself at the numbers.
Having been forced out of my holding in Darktrace last week, at a very handsome profit because of a takeover, I have some cash to splash. Come next April I’m going to have to find some cash to pay off the inland revenue for the capital gains.
My logic is that this company is seriously undervalued, Cantor Fitzgerald have recently downgraded the company from buy to hold with a price target of $5.00, eh ! how does that work. One brokerage has a $7.00 target
Now I’m not going all in on this one because there is obvious risk. If it works out then I can pay off the tax man next year, if not then I’ll reduce my capital gains tax by selling at a loss and reduce my gains.
On a technical level, price bounced strongly from a double bottom on the 4hr chart.
Results are out very soon, having built up its infrastructure over the last few years hopefully it can start to deliver some positive earnings soon and the share price will recover
$EVGO to $10?Looks like we have another H&S setup possibly forming here. Looks likely for us to trade towards $10 here. DCA would be effective here as this is a long-term investment play.
EV charging stocks move the same wayA curious graph shows us that CHPT, BLNK and EVGO.
The three stocks move at roughly the same pace and the three represent a good LONG opportunity right now.
The future looking good.Another chart I was watching since April of 2023. After doing a technical analysis and see the growing of Electrical cars being produced.
EVGO - Tapped into Discount Zone - What's next? 50% from recent EVGO - Tapped into Discount Zone - What's next? 50% from recent highs and the blue 200 day EMA 'watermark'. Keep it Simple!
EVGO - oversold. Market breadth remains a significant factorEVGO is looking attractive here. In the ratio (EVGO/TSLA) chart I have comparing it to TSLA’s price, it has hit this RSI level 3 times before and seen excellent gains afterwards. The EVGO chart alone shows a potential double bottom if it bounces here. The EVGO/(CHPT*BLNK) compares it to it’s main competitors outside of TSLA and you can see that the market favors EVGO over the 2 year period they’ve been listed. The only doubt I have it the issue with market breadth - only a handful of large companies are participating in this (AI frenzy) rally - the rest are struggling with high rates. Of course, over the long term, you would expect to see the entire EV sector make big strides due to government stimulus and subsidies in the space.
EVGO this is a heavy support areaIf the candles remain between -4% - 4%, and the volume remains elevated from the previous 30 days, this is ramping up to be a large move. From what I've seen in the SEC files, the CEO of Sustainability, Kate Brandt, has purchased quite a bit of this equity. FYI, I am not a finacial guru and this isn't financial advice. Do your due dilligence.
Evgo long term investment Evgo next innovation and conductors for all future call businesses
6 Mqp
Demand
Wedge pattern
Long term investment
Nasdaq correlation
Potential Big percentage gain
$EVGO 1:2 RR trade ideaI am looking at the monthly consolidation broken
Looking for a move up to test the supply
EVGOWe can see this bulish pattern impulse wave can lead other pattern break so we can see BUll market
EVGO | Time to Charge Up | LONGEVgo, Inc. owns and operates a direct current fast charging network in the United States. The company offers electricity directly to drivers, who access its publicly available networked chargers; original equipment manufacturer charging and related services; fleet and rideshare public charging services; and charging as a service and fleet dedicated charging services. It also provides ancillary services, such as customization of digital applications, charging data integration, loyalty programs, access to chargers behind parking lot, or garage, pay gates and pilots microtargeted advertising, and charging reservations; and maintenance and development and project management services through eXtendTM, including electric vehicle supply equipment installation, networking, and operations. The company was incorporated in 2010 and is based in Los Angeles, California.
EVGO TO THE MOONI definetly see a whole lotta potential here
financials not to bad
looks like its in the expansion phase to me
definetly an innovation aside from tsla doin it
EV is without a doubt the future lets not fight it this company
is going to replace EXXON SHEL BP. gas stations
i wont bash them to much cause they can always transition
im not going to stop here im going to check if its competitions have better profit potential this
industry is low key like ink its there its frequent but we never really take note
www.marketbeat.com
dont feel like typing 2 much so imma summarise this here
SENNA SEASON
Ev Sector rallying a bit but.. EVGO SHORT @ TOPEVgo, Inc. engages in the provision of electric vehicle charging station services. It offers the EVgo network, home charging solutions, work charging solutions, and freedom station plans to electric car owners. The company was founded in October 2010 and is headquartered in Los Angeles, CA.
Target range 8$ less
June 17th contracts
EvgoDaily and weekly support ranging around 7.45. Let’s see how she reacts in this range. I’d like to see daily turn back up after a few days or hourly tests. Could be a nice long postion
Ev goWatch thi trend support. We tapped today quite a bit around 12.01- lowest 11.94. As long as we remain above 11.90 and don’t close and use as resiatnce this could still contiue its uptrending support. Def could
Be a beautiful setup to long from these levels
EVGO My idea is we have support 13.30 from this resiatnce breakout that sent momentum flying up towards 14s. We have now came back and what we want to see is roughly 13.12 at the lowest to 13.30 hold as support and claim as new support. I did load at 12.75 I just got filled on a 13.30 add and have buys at 13.12 if that 13.30 doesn’t work as planned. Either way I’m averaging in on this beast on pull backs. Chart looks really great
EVGO earnings on WednesdayEVgo is the nation’s largest public fast charging network for electric vehicles and the first to be powered by 100% renewable energy. EVGO Q4 earnings are on Wednesday 3/23 at 7am. Evgo (EVGO) reported Q3 September 2021 revenue of $6.2 million. The consensus estimate was a loss of $0.08 per share on revenue of $5.8 million. The company said it expects 2021 revenue of $20.0 million to $22.0 million. The current consensus revenue estimate is $20.78 million for the year ending December 31, 2021. With yesterday being the first day of Spring and gasoline prices rising, I'm long EVGO. Here's levels on the 1-day chart:
Q4 December 21' Consensus:
EPS = -$.12
Revenue = $6.13M
52 week high = $19.59
52 week low = $7
breakout = $14.67
R3 = $13.96
R2 = $13.25
R1 = $12.54
pivot = $11.83
S1 = $11.12
S2 = $10.41
S3 = $9.70
breakdown = $8.99
Do your own due diligence, your risk is 100% your responsibility. This is for educational and entertainment purposes only. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Good luck and happy trading friends...
*3x lucky 7s of trading*
7pt Trading compass:
Price action, entry/exit
Volume average/direction
Trend, patterns, momentum
Newsworthy current events
Revenue
Earnings
Balance sheet
7 Common mistakes:
+5% portfolio trades, capital risk management
Beware of analyst's motives
Emotions & Opinions
FOMO : bad timing, the market is ruthless, be shrewd
Lack of planning & discipline
Forgetting restraint
Obdurate repetitive errors, no adaptation
7 Important tools:
Trading View app!, Brokerage UI
Accurate indicators & settings
Wide screen monitor/s
Trading log (pencil & graph paper)
Big, organized desk
Reading books, playing chess
Sorted watch-list
Checkout my indicators:
Fibonacci VIP - volume
Fibonacci MA7 - price
pi RSI - trend momentum
TTC - trend channel
AlertiT - notification
tickerTracker - MFI Oscillator
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what goes down, must come uphi all
The correction that I told in my previous idea is now finished.
wave 1 and 2 are done, so the Fibonacci extension can be made for the calculation for wave 3.4.5 (yellow)
wave3 we can divided again in an Elliot wave (purple)
It can be that the 1.618 Fibonacci is a resistance for wave 3, but most likely it's a support for wave 4.
Hint: The revenues that are coming out in March will play a big role (again)
GREETZ SS
What goes up, must come down.hi all
we had the Elliot impulse wave(12345), now we need to see a correction wave (ABC).
The Fibonacci retracements are telling me that were are going under 10$ for a buy-zone.
It can stop at 78.6% but mostly it goes all the way to 95%.
It depends on the Bulls/Bears.
After the correction we will see a new impulse wave.
GREETZ SS
