Canoo Inc. (GOEV) Stock Forecast & Price Prediction 2025, 2030 | CoinCodex (2024)

According to our current GOEV stock forecast, the value of Canoo Inc. shares will rise by 8.56% and reach $ 1.172009 per share by September 22, 2024. Per our technical indicators, the current sentiment is Bearish while the Fear & Greed Index is showing 39 (Fear). GOEV stock recorded 9/30 (30%) green days with 10.95% price volatility over the last 30 days. Based on the Canoo Inc. stock forecast, it's now a good time to buy GOEV stock because it's trading 10.41% below our forecast, and it could be undervalued.

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Based on the average yearly growth of the Canoo Inc. stock in the last 10 years, the GOEV stock forecast for the beginning of next year is $ 0.790744. Using that same approach, here is the Canoo Inc. stock prediction for each year up until 2030.

Canoo Inc. Stock Prediction 2025

The Canoo Inc. stock prediction for 2025 is currently $ 0.790744, assuming that Canoo Inc. shares will continue growing at the average yearly rate as they did in the last 10 years. This would represent a -24.69% increase in the GOEV stock price.

Canoo Inc. Stock Prediction 2030

In 2030, the Canoo Inc. stock will reach $ 0.191544 if it maintains its current 10-year average growth rate. If this Canoo Inc. stock prediction for 2030 materializes, GOEV stock will grow -81.76% from its current price.

Popular GOEV Moving Averages for Tue, Sep 17, 2024

Moving averages (MA) are a popular indicator in all financial markets, designed to smooth price action over a certain amount of time. They are a lagging indicator which means they are influenced by historical price activity. In the table below you can find two types of moving averages, simple moving average (SMA) and exponential moving average (EMA).

Change	1H	24H	7D	1M	3M	6M	YTD	1Y	3Y	5Y	ALL
GOEV/USD	-25.00%	1.94%	-12.13%	-29.53%	-41.99%	-69.21%	308.24%	117.75%	-84.63%	-89.50%	-89.36%
GOEV/BTC	-24.15%	-1.44%	-15.64%	-30.02%	-37.05%	-66.44%	190.12%	-2.86%	-87.61%	-98.24%	--
GOEV/ETH	-24.43%	-0.29%	-11.02%	-19.82%	-11.20%	-54.53%	303.47%	53.12%	-77.26%	-99.01%	--
GOEV/USDT	-25.00%	1.94%	-12.13%	-29.53%	-41.99%	-69.21%	308.24%	117.75%	-84.63%	-89.50%	--

To get a better idea of what could happen to the GOEV stock price in the future, it’s helpful to also explore Canoo Inc.’s price history. In the last month, the GOEV/USD pair is down -29.53%. The 1-year performance of GOEV/USD is 117.75%. For comparison, Canoo Inc. stock performed -2.86% worse than Bitcoin in the last year and 53.12% better than Ethereum.

How to read and forecast Canoo Inc. stock price movements?

Canoo Inc. stock traders use a variety of tools to make a prediction on which way the GOEV market is likely to head next. These tools can roughly be divided into indicators and chart patterns. When trying to make a Canoo Inc. stock forecast, traders also try to identify important support and resistance levels, which can give an indication of when a downtrend is likely to slow down and when an uptrend is likely to stall.

Canoo Inc. Stock Forecast Indicators

Moving averages are among the most popular Canoo Inc. stock prediction tools. As the name suggests, a moving average provides the average closing price for GOEV stock over a selected time frame, which is divided into a number of periods of the same length. For example, a 12-day simple moving average for GOEV is a sum of GOEV’s closing prices over the last 12 days which is then divided by 12.

In addition to the simple moving average (SMA), traders also use another type of moving average called the exponential moving average (EMA). The EMA gives more weight to more recent prices, and therefore reacts more quickly to recent price action.

50-day, 100-day and 200-day moving averages are among the most commonly used indicators in the stock market to identify important resistance and support levels. If the Canoo Inc. stock price moves above any of these averages, it is generally seen as a bullish sign for Canoo Inc. stock. Conversely, a drop below an important moving average is usually interpreted as a negative forecast for the GOEV market.

Traders also like to use the RSI and Fibonacci retracement level indicators to try and ascertain the future direction of the Canoo Inc. stock price.

How to read Canoo Inc. stock charts and forecast price movements?

When making a Canoo Inc. stock forecast, most traders use candlestick charts, as they provide more information than a simple line chart. Traders can view candlesticks that represent the price action of Canoo Inc. stock with different granularity – for example, you could choose a 5-minute candlestick chart for extremely short-term price action or choose a weekly candlestick chart to identify long-terms trends. 1-hour, 4-hour and 1-day candlestick charts are among the most popular.

Let’s use a 1-hour candlestick chart as an example of how this type of price chart gives us information about opening and closing prices. The chart is divided into “candles” that give us information about Canoo Inc.’s stock price action in 1-hour chunks. Each candlestick will display GOEV’s opening price, closing price, as well as the highest and lowest prices that Canoo Inc. reached within the 1-hour period. This information makes it easier to make an informed price prediction.

It’s also important to pay attention to the color of the candle – a green candle means that the closing price was higher than the opening price, while a red candle tells us the opposite. Some charts will use hollow and filled candlestick bodies instead of colors to represent the same thing.

What affects the price of GOEV stock?

Just like with any other asset, the price action of Canoo Inc. stock is driven by supply and demand. These dynamics can be influenced by fundamental factors, such as earnings announcements, new product launches, acquisitions and mergers, and other factors. The GOEV stock price can also be influenced by market sentiment, broader economic conditions, interest rates, inflation rates and political developments.

Bullish and bearish stock price forecast patterns

Some traders try to identify candlestick patterns when making a stock price prediction to try and get an edge over the competition. Some candlestick formations are seen as likely to forecast bullish price action, while others are seen as bearish.