Blink Charging Stock Trades Higher: Technical Levels To Watch

Blink Charging Co. BLNK shares were trading higher Monday, up 8.25% at $41.39 at last check.

CEO Michael Farkas was interviewed Monday on CNBC. 

Blink Short-Term Chart Analysis: The 5-minute chart above shows the stock looks to be in a channel throughout the last week.

The stock looks to be unable to cross below the $35 mark, indicating possible support.

The stock has been unable to break above the $42 level, which is potentially acting as short-term resistance.

The stock is trading above the 200-day moving average (blue) as well as the volume-weighted average price (pink). This gives the stock a short-term bullish sentiment, and these levels may hold as potential support in the short-term future.

Blink Daily Chart Analysis: The daily chart above shows there are key levels near $30 and near $40.

The $30 level held as a resistance level months in the past. The stock was able to breakout above the level and held as support. Now, the stock may hold this level as support again.

The $40 level was holding as support after it was broken as resistance. Since then, the price has fallen below the $40 level and it has held as resistance.

Bulls may see the chart forming what technical traders may call an “inverse head and shoulders” pattern. For this pattern to confirm, the price would need a strong close above the $40 level with momentum.

Bears may like to see the price close below the $30 support. If $30 is unable to hold as support, the stock may see a strong move to the bearish side.

Blink Charging is trading with a market cap of $1.49 billion and a public float of 27.7 million shares.