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An Analysis of Canoo Inc (GOEV)’s Potential Price Growth

Canoo Inc’s recent filing unveils that its SVP and CAO MURTHY RAMESH unloaded Company’s shares for reported $25509.0 on Jul 03 ’24. In the deal valued at $2.33 per share,10,948 shares were sold. As a result of this transaction, MURTHY RAMESH now holds 181,447 shares worth roughly $0.38 million.

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Then, Ruiz Hector M. sold 10,937 shares, generating $25,483 in total proceeds. Upon selling the shares at $2.33, the GENERAL COUNSEL, CORP SECY now owns 181,513 shares.

Before that, Ruiz Hector M. sold 745 shares. Canoo Inc shares valued at $119 were divested by the GENERAL COUNSEL, CORP SECY at a price of $0.16 per share. As a result of the transaction, Ruiz Hector M. now holds 283,355 shares, worth roughly $0.6 million.

R. F. Lafferty downgraded its Canoo Inc [GOEV] rating to a Hold from a a Buy in a research note published recently. A number of analysts have revised their coverage, including The Benchmark Company’s analysts, who began to cover the stock in mid April with a ‘”a Buy”‘ rating. Wedbush began covering GOEV with “an Outperform” recommendation on January 05, 2024. Stifel started covering the stock on September 16, 2022. It rated GOEV as “a Buy”.

Price Performance Review of GOEV

On Friday, Canoo Inc [NASDAQ:GOEV] saw its stock fall -4.93% to $2.12. Over the last five days, the stock has gained 6.53%. Canoo Inc shares have fallen nearly -64.16% since the year began. Nevertheless, the stocks have fallen -83.24% over the past one year. While a 52-week high of $19.50 was reached on 01/08/24, a 52-week low of $1.22 was recorded on 03/14/24. SMA at 50 days reached $2.34, while 200 days put it at $4.49. A total of 2.31 million shares were traded, compared to the trading of 2.44 million shares in the previous session.

Levels Of Support And Resistance For GOEV Stock

The 24-hour chart illustrates a support level at 2.05, which if violated will result in even more drops to 1.98. On the upside, there is a resistance level at 2.23. A further resistance level may holdings at 2.34. The Relative Strength Index (RSI) on the 14-day chart is 50.14, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.27, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 43.80%. Stochastics%K at 62.26% indicates the stock is a holding.

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