EVgo Stock Hits Oversold Territory Ahead Of Q4 - Relief Rally Incoming?

Zinger Key Points

EVgo stock is in a strong downtrend, trading below all major moving averages with weak momentum.
Analysts see a potential 132% upside, but technicals suggest a rebound is uncertain without a trend shift.
Every week, our Whisper Index uncovers five overlooked stocks with big breakout potential. Get the latest picks today before they gain traction.

EVgo Inc EVGO will be reporting its fourth-quarter earnings on Tuesday. Wall Street expects a loss of 9 cents a share and $69.10 million in revenues as the company reports before market hours.

The stock is down 9.62% over the past year, 38.31% YTD.

Let’s look at what the charts indicate for EVgo stock and how the stock currently maps against Wall Street estimates.

EVgo Stock Oversold, Stuck In Downtrend Ahead Of Q4 Earnings

Chart created using Benzinga Pro

EVgo stock is running on empty, with its share price of $2.61 trapped below all major moving averages. The eight-day, 20-day, 50-day and 200-day simple moving averages all confirm a strongly bearish trend, with the 200-day average at $4.27 highlighting just how much ground the stock has lost.

The Moving Average Convergence Divergence (MACD) indicator at a negative 0.29 further signals weak momentum, while the Relative Strength Index (RSI) at 29.31 suggests EVgo is firmly in oversold territory, but a rebound remains uncertain..

For investors, this technical setup remains firmly bearish, but the deeply oversold Relative Strength Index (RSI) at 29.31 suggests a potential for a short-term relief rally.

If buyers step in, a bounce could materialize, but without a decisive move above key resistance levels, the stock's downtrend remains intact, leaving investors to wonder if EVgo can regain momentum or if the charge is fading fast.

EVgo Analysts See 132% Upside

Ratings & Consensus Estimates: The consensus analyst rating on EVgo stock stands at a Buy currently with a price target of $6.97. The latest analyst ratings from JPMorgan and UBS give EVgo stock an average price target of $6, implying a 132.14% upside.

EVGO Price Action: EVgo stock was trading at $2.44 at the time of publication.

Read Next: