Canoo Stock Technical Analysis

GOEV
 Stock
  

USD 1.40  0.04  2.78%   

As of the 5th of December, Canoo shows the risk adjusted performance of (0.23), and Mean Deviation of 4.06. Canoo Inc technical analysis gives you the methodology to make use of historical prices and volume patterns to determine a pattern that approximates the direction of the firm's future prices. Put another way, you can use this information to find out if the firm will indeed mirror its model of historical prices and volume momentum, or the prices will eventually revert. We were able to analyze and collect data for nineteen technical drivers for Canoo Inc, which can be compared to its rivals. Please confirm Canoo Inc coefficient of variation, treynor ratio, as well as the relationship between the Treynor Ratio and semi variance to decide if Canoo Inc is priced correctly, providing market reflects its regular price of 1.4 per share. Please also double-check Canoo Inc total risk alpha, which is currently at (1.28) to validate the company can sustain itself at a future point.
  

Canoo Momentum Analysis

Momentum indicators are widely used technical indicators which help to measure the pace at which the price of specific equity, such as Canoo, fluctuates. Many momentum indicators also complement each other and can be helpful when the market is rising or falling as compared to Canoo
Canoo's Momentum analyses are specifically helpful, as they help investors time the market using mark points where the market can reverse. The reversal spots are usually identified through divergence between price movement and momentum.

Canoo Analyst Consensus

Target PriceAdvice# of Analysts
11.67Buy3Odds
Canoo Inc current and past analyst recommendations published by a number of research institutions as well as average analyst consensus.
Most Canoo analysts issue ratings four times a year, at intervals of three months. Ratings are usually accompanied by a target price to helps potential investors understand Canoo stock's fair price compared to its market value. Analysts arrive at stock ratings after researching public financial statements of Canoo Inc, talking to its executives and customers, or listening to Canoo conference calls.
Canoo Analyst Advice Details
Canoo technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.
A focus of Canoo technical analysis is to determine if market prices reflect all relevant information impacting that market. A technical analyst looks at the history of Canoo trading pattern rather than external drivers such as economic, fundamental, or social events. It is believed that price action tends to repeat itself due to investors' collective, patterned behavior. Hence technical analysis focuses on identifiable price trends and conditions. More Info...

Canoo Inc Technical Analysis

Indicator
Time Period
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The output start index for this execution was twenty-four with a total number of output elements of thirty-seven. The Average True Range was developed by J. Welles Wilder in 1970s. It is one of components of the Welles Wilder Directional Movement indicators. The ATR is a measure of Canoo Inc volatility. High ATR values indicate high volatility, and low values indicate low volatility.
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Canoo Inc Trend Analysis

Use this graph to draw trend lines for Canoo Inc. You can use it to identify possible trend reversals for Canoo as well as other signals and approximate when it will take place. Remember, you need at least two touches of the trend line with actual Canoo price movement. To start drawing, click on the pencil icon on top-right. To remove the trend, use eraser icon.

Canoo Best Fit Change Line

The following chart estimates an ordinary least squares regression model for Canoo Inc applied against its price change over selected period. The best fit line has a slop of   -0.02  , which may suggest that Canoo Inc market price will keep on failing further. It has 122 observation points and a regression sum of squares at 19.47, which is the sum of squared deviations for the predicted Canoo price change compared to its average price change.

About Canoo Technical Analysis

The technical analysis module can be used to analyzes prices, returns, volume, basic money flow, and other market information and help investors to determine the real value of Canoo Inc on a daily or weekly bases. We use both bottom-up as well as top-down valuation methodologies to arrive at the intrinsic value of Canoo Inc based on its technical analysis. In general, a bottom-up approach, as applied to this company, focuses on Canoo Inc price pattern first instead of the macroeconomic environment surrounding Canoo Inc. By analyzing Canoo's financials, daily price indicators, and related drivers such as dividends, momentum ratios, and various types of growth rates, we attempt to find the most accurate representation of Canoo's intrinsic value. As compared to a bottom-up approach, our top-down model examines the macroeconomic factors that affect the industry/economy before zooming in to Canoo specific price patterns or momentum indicators. Please read more on our technical analysis page.

Canoo December 5, 2022 Technical Indicators

Most technical analysis of Canoo help investors determine whether a current trend will continue and, if not, when it will shift. We provide a combination of tools to recognize potential entry and exit points for Canoo from various momentum indicators to cycle indicators. When you analyze Canoo charts, please remember that the event formation may indicate an entry point for a short seller, and look at different other indicators across different periods to confirm that a breakdown or reversion is likely to occur.

Canoo December 5, 2022 Daily Trend Indicators

Traders often use several different daily volumes and price technical indicators to supplement a more traditional technical analysis when analyzing securities such as Canoo stock. With literally thousands of different options, investors must choose the best indicators for them and familiarize themselves with how they work. We suggest combining traditional momentum indicators with more near-term forms of technical analysis such as Accumulation Distribution or Daily Balance Of Power. With their quantitative nature, daily value technical indicators can also be incorporated into your automated trading systems.
Please check Risk vs Return Analysis. Note that the Canoo Inc information on this page should be used as a complementary analysis to other Canoo's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try Pair Correlation module to compare performance and examine fundamental relationship between any two equity instruments.

Complementary Tools for Canoo Stock analysis

When running Canoo Inc price analysis, check to measure Canoo's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Canoo is operating at the current time. Most of Canoo's value examination focuses on studying past and present price action to predict the probability of Canoo's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move Canoo's price. Additionally, you may evaluate how the addition of Canoo to your portfolios can decrease your overall portfolio volatility.
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Is Canoo's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Canoo. If investors know Canoo will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Canoo listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Market Capitalization
478.5 M
Return On Assets
(0.67) 
Return On Equity
(1.58) 
The market value of Canoo Inc is measured differently than its book value, which is the value of Canoo that is recorded on the company's balance sheet. Investors also form their own opinion of Canoo's value that differs from its market value or its book value, called intrinsic value, which is Canoo's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Canoo's market value can be influenced by many factors that don't directly affect Canoo's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Canoo's value and its price as these two are different measures arrived at by different means. Investors typically determine Canoo value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Canoo's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.