ChargePoint Holdings, Inc. (#CHARGEPT) weekly uptrend opportunity based On 1.00 Lot Calculation:
- WHAT DO THEY DO: ChargePoint Holdings is a major player in the US and European electric vehicle charging network operation. They make it easy for businesses and drivers to go electric with the largest electric vehicle charging networks.
- MARKET SHARE: ChargePoint has more than 70% market share in the North American charging network, more than 7 times its nearest competitor. ChargePoint holds a leading position in the commercial and fleet segments, with over 5,000 customers, and its charging networks in North America and Europe include over 118,000 charging locations.
- EVENT (FINANCIALS): ChargePoint Holdings 3rd Quarter earnings will be released on December 7th, aftermarket. ChargePoint expects revenue of $60 - $65 million for its third quarter ending October 31, 2021 and is raising its full year revenue outlook to $235 million, from $205 million, for the fiscal year ending January 31, 2022.
- NEWS (November 19): The House (Not the Senate) passed the bill (1.75 trillion dollars including 555 billion dollars in Green Energy). It is now up to the Senate, which could pass the bill in the next weeks. According to this bill, consumers can receive a tax credit of up to $12,500 on electric vehicles. This tax credit would include a $4,500 incentive on union-made cars and $500 on batteries made in the United States.
- U.S. ELECTRIC VEHICLE MARKET TO CONTINUE TO RISE AS THEY SET A GOAL 50% OF THE CAR SALES BY 2030 TO BE ELECTRIC VEHICLES: An Electric vehicle expansion of that magnitude will require a heavy build-out of charging stations, to create a nationwide network President Biden made clear that his administration will promote a nationwide buildout of Electric vehicle charge points.
- STOCK PRICE ACTION: The shares are currently trading around $23.00. The record high reached in December 24, 2020 is $49.48. The current upside potential is around 115% to reach that level.
ChargePoint Holdings, December 3, 2021
Current Price: 23.00
|
ChargePoint |
Weekly |
|
Trend direction |
|
|
33.00 |
|
|
30.00 |
|
|
27.00 |
|
|
19.00 |
|
|
16.50 |
|
|
13.50 |
Example of calculation base on weekly trend direction for 1.00 Lot*
|
ChargePoint Holdings |
||||||
|
Pivot Points |
||||||
|
Profit or loss in $ |
50,000 |
35,000 |
20,000 |
-20,000 |
-32,500 |
-47,500 |
|
Profit or loss in €** |
44,260 |
30,982 |
17,704 |
-17,704 |
-28,769 |
-42,047 |
|
Profit or loss in £** |
37,656 |
26,359 |
15,063 |
-15,063 |
-24,477 |
-35,773 |
|
Profit or loss in C$** |
64,085 |
44,860 |
25,634 |
-25,634 |
-41,655 |
-60,881 |
* 1.00 lot is equivalent of 5000 units
** Calculations for exchange rate used as of 8:55 a.m. (GMT) 03/12/2021
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Client Manager regarding their use.
*** You may wish to consider closing your position in profit, even if it is lower than suggested one
**** Trailing stop technique can protect the profit – Ask your Client Manager for more details