Company Overview: ChargePoint Holdings, Inc. (NYSE: CHPT) is a provider of electric vehicle charging technology solutions. Angi Inc. (NASDAQ: ANGI) connects home service professionals with consumers across approximately 500 categories. Corvus Pharmaceuticals, Inc. (NASDAQ: CRVS) is a clinical-stage biopharmaceutical company that focuses on developing and commercialising immuno-oncology therapies for non-small cell lung cancer and head and neck cancers. This Report covers the Price Action and Technical Indicators Analysis along with the Support Levels, Resistance Levels, and Recommendations on these stocks.

CHPT’s Technical Analysis:

On the daily chart, CHPT's stock price has been sustaining below a falling trend line breakout level for the past couple of sessions, indicating the possibility of sideways to negative movement. Additionally, the RSI (14-period) is entered in the oversold zone, further supporting a negative bias. Prices are trading below both the 21-period and 50-day SMAs, which may potentially serve as dynamic resistance levels for the stock.

ANGI’s Technical Analysis:

ANGI's stock price is forming a trading range recognized by lower highs and higher lows on the daily chart, signalling that the stock's sideways period might remain intact. Moreover, even though it has recently bounced back from the oversold zone, the 14-period Relative Strength Index (RSI) is displaying weakness, with a reading of 33.52, further supporting the assessment of a sideways trend. Prices are trading below the 21-period and 50-day SMAs, which may function as dynamic resistance levels for the stock.

CRVS’ Technical Analysis:

CRVS's stock price recently broke a crucial support level of USD 1.95 by the downside, indicating the possibility of further downward movement. The RSI (14-period) is heading south to the oversold region, supporting a negative bias. Prices are trading below the 21-period and 50-day SMAs, which may function as dynamic resistance levels for the stock.

Individuals can evaluate the stock based on the support and resistance levels provided in the report in case of keen interest, taking into consideration the risk-reward scenario.

Markets are trading in a highly volatile zone currently due to certain macro-economic issues and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

Note 1: Past performance is neither an Indicator nor a guarantee of future performance.

Note 2: Investment decision should be made depending on an individual’s appetite for upside potential, risks, and any previous holdings. This recommendation is purely based on technical analysis, and fundamental analysis has not been considered in this report.

Note 3: Related Risks: This report may be looked at from high-risk perspective and recommendations are provided are for a short duration. Recommendations provided in this report are solely based on technical parameters, and the fundamental performance of the stocks has not been considered in the decision-making process. Other factors which could impact the stock prices include market risks, regulatory risks, interest rates risks, currency risks, social and political instability risks etc.

The reference date for all price data, currency, technical indicators, support, and resistance levels is September 08, 2023. The reference data in this report has been partly sourced from REFINITIV.

Technical Indicators Defined:

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.

Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.

The Green colour line reflects the 21-period moving average. SMA helps to identify existing price trends. If the prices are trading above the 21-period, prices are currently in a bullish trend (Vice – Versa).

The Red colour line reflects the 50-period moving average. SMA helps to identify existing price trends. If the prices are trading above the 50-period, prices are currently in a bullish trend (Vice – Versa).

The Orange/ Yellow colour line represents the Trendline.

The Black colour line in the chart’s lower segment reflects the Relative Strength Index (14-Period), which indicates price momentum and signals momentum in trend. A reading of 70 or above suggests overbought status, while a reading of 30 or below suggests an oversold status.

Disclaimer

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