Gevo Stock Is In Make It Or Break It Time

Gevo Inc. (NASDAQ: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

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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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.

What’s Next For Gevo?

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

GEVOGevo Inc

$1.970.52%

Overview

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Gevo Daily Chart Analysis

What’s Next For Gevo?