It's a time for CHARGEPOINT - potential 55% target / 12 USDThe CHPT chart shows several technical factors that support a bullish scenario toward the $12 level in the coming weeks or months, although this outcome is by no means guaranteed.
First, since the April low around $4.50–$5.00, the stock has been forming a series of higher lows, which is a classic sign of a developing uptrend. In recent weeks, the price has repeatedly defended the demand zone between $5.90 and $6.20, indicating strong buying interest at those levels.
Second, the trend indicator on the chart has shifted from red to green, signaling a transition from a bearish phase to a bullish one. In addition, the stock is trading above the trend line, suggesting that buyers currently have control of the short-term direction.
The key resistance area is now located between $7.80 and $8.30. The stock has tested this zone several times without experiencing a strong rejection, which often indicates accumulation before a breakout. If buyers can secure several daily closes above $8.00, it could trigger the next upward leg.
Once the $8.00 resistance is broken, the next technical target lies in the $10.50–$11.00 range, which is marked on the chart as a previous supply zone. A successful breakout above that level would open the door for a move toward the major resistance area around $12.00–$12.50, corresponding with a significant prior swing high.
From a fundamental perspective, ChargePoint remains one of the largest electric vehicle charging infrastructure providers in North America and Europe. The market continues to focus on the company’s efforts to improve profitability, reduce costs, and capitalize on the long-term growth of the EV industry. While the company is still not consistently profitable, investors are paying close attention to improving margins and operational efficiency.
Potential TP: 12 USD
Disclaimer: This analysis is provided for informational and educational purposes only and should not be considered financial, investment, or trading advice. The views expressed are based solely on technical chart interpretation and publicly available information at the time of writing. Financial markets involve risk, and past performance does not guarantee future results. Investors should conduct their own research, assess their individual risk tolerance, and consult a qualified financial advisor before making any investment decisions. The author assumes no responsibility for any financial losses resulting from the use of this analysis.
Long
