Gevo Stock Is In Make It Or Break It Time

Gevo Inc. GEVO shares are trading higher Tuesday after Stifel analysts initiated coverage on the stock and gave it a Buy rating and a price target of $10. The stock has been trending throughout Tuesday on social media sites.

Gevo was up 13.94% at $5.97 at last check Tuesday.

Gevo Daily Chart Analysis

  • Shares are at the point of a pennant pattern and look like they could make a large move in either direction anytime now.
  • The stock is trading below both the 50-day moving average (green) and the 200-day moving average (blue), indicating the stock has seen recent bearish sentiment.
  • Each of these moving averages may hold as an area of resistance in the future.
  • The stock is in a spot where it could see a large push in either direction, the pattern looks ready to breakout and make a large move one way or another in the next few days.
  • The Relative Strength Index (RSI) moved higher and pushed above the middle line, now sitting at 52. This shows after the coverage was initiated the stock saw a large increase in buyers.

gevodaily8-24-21.png

What’s Next For Gevo?

Bullish traders are looking to see the stock break out of the pennant pattern and start moving higher. After a nice breakout move, bulls would like to see the stock have a period of consolidation for a possible further upward move.

Bears would like to see the stock drop below the pennant pattern and see a further bearish push. If the stock can consolidate below the pennant pattern it may be ready to drop further.

Image: Gevo video

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