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With demand for electric vehicles on the run, investors may want to keep an eye on charging stocks, like ChargePoint Holdings (CHPT).
Remember, not only do global leaders want millions of EVs on the road, California is about to prohibit the sale of gas-powered cars.
“The rule, issued by the California Air Resources Board, will require that 100 percent of all new cars sold in the state by 2035 be free of the fossil fuel emissions chiefly responsible for warming the planet, up from 12 percent today. It sets interim targets requiring that 35 percent of new passenger vehicles sold in the state by 2026 produce zero emissions. That would climb to 68 percent by 2030,” according to The New York Times.
For that to become a reality, we need EV charging stations – lots of them.
In fact, the Biden Administration already announced that all 50 U.S. states, Washington, D.C., and Puerto Rico have all submitted plans for a national EV charging network.

“These plans are required to unlock the first round of the $5 billion of Bipartisan Infrastructure Law formula funding available over 5 years to help states accelerate the important work of building out the national EV charging network and making electric vehicle charging accessible to all Americans,” according to the U.S. Department of Transportation.
ChargePoint Holdings Stock Technically Oversold
It’s all part of the reason why oversold shares of CHPT are starting to pivot higher. All after pulling back from about $19 to $14 thanks to a broad market pullback. Even better, the stock is oversold on Williams’ %R, Fast Stochastics, and RSI.
Source: MarketClub
Fundamentally, CHPT is just as solid. In its fourth quarter, the company posted a 17-cent loss, which was a penny shy of expectations. Sales were up to $80.7 million, which was far better than expectations for $75.9 million. It was also better than the company’s own guidance for $78 million for the quarter.

Better, “ChargePoint delivered another outstanding quarter…. advancing our technology leadership in our commercial, fleet and residential verticals,” said CEO Pasquale Romano in the company’s news release. “We had numerous successes in our first year as a publicly traded company, including a 65% year over year increase in annual revenue, two strategic acquisitions, expansion of our activated [charging] port count by over 60%.”
Again, with the EV boom only accelerating, oversold shares of CHPT could race higher.
CHPT last traded at $15.33 a share, and could potentially test $19 again, near-term.
Ian CooperINO.com Contributor
The above analysis of ChargePoint Holdings (CHPT) was provided by financial writer Ian Cooper. Ian Cooper is not a Registered Investment Advisor or Financial Planner. This writing is for informational purposes only. It does not constitute an offer to sell, a solicitation to buy, or a recommendation regarding any securities transaction. The information contained in this writing should not be construed as financial or investment advice on any subject matter. Ian Cooper expressly disclaims all liability in respect to actions taken based on any or all of the information on this writing.

Earlier this month, I updated on the crypto market with a title, ‘It Ain’t Over Yet”. I considered the recent strength in the main cryptocurrencies a “dead-cat bounce” within a classic sideways consolidation with a high probability of resuming collapse.
This time, I spotted new signals as the chart moves to the right building new bars over time. Let us start with the main coin in the weekly chart below.
Source: TradingView
The price of Bitcoin moves within large bearish trend channel (black). The top of above-mentioned sideways consolidation within red trendlines did not even approach the resistance, it stays intact.
The RSI indicator could not raise its head to test the “waterline” of 50 level. This means that the market has considered this short-term strength as a “dead-cat bounce” as well.

The chart bar of last week has punctured below the red support. This is a harbinger of another drop. The main coin indeed is looking into the abyss as the strong support appears only after the price halves down. The largest area of the Volume Profile histogram (orange) is located between $9k and $10k. The mid-channel (red dashed) fortifies that support with its intersection.
Your biggest bet last time was the drop of the Bitcoin down to $12.2k, where the second leg down is equal to the first one. It almost coincides with the above-mentioned double support.The next volume area is located at the $4k level and this option was your least favorite.
This time I added the simple moving average (purple) covering the preceding 52 weeks (1 year). It has been offering a strong support to the price starting from 2020. This year it has flipped to become a strong resistance after the price has dropped below it. The $40k level is the barrier to break to confirm the new bullish cycle.
A rather interesting situation has developed for the main coin. The price should either half down to find support or it should double up from this level to crack the bearish cycle.

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Now, let us check the Ethereum chart.
Source: TradingView
In spite of all the hype around the upcoming transition of Ethereum onto the proof-of-stake (PoS) mechanism, the shadow of falling Bitcoin remains a backbreaking burden.
The black downtrend remains intact for the second largest coin also. There is a visible difference with the Bitcoin chart. The red mid-channel intersects with the red trendline support that contours consolidation.

Although the RSI was stronger here as it approached the barrier, it failed to break up and then dropped. Thus, the bearish mode continues.
Indeed, there is no safety net once the price slides below the red trendline support and the mid-channel until it touches the Volume Profile (orange) support of $250. It accords with the total annihilation model posted in May. Most of you agreed with this doomed forecast earlier.
The simple moving average (purple) for the preceding year stands at $2,845. The price should almost double to touch this resistance. This is a similar situation with Bitcoin. However, the downside gap is worse for Ethereum.

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The forecasted collapse should show us for sure if the RSI will establish a new valley or not building the Bullish Divergence. HODL-ers will watch this event closely.
Intelligent trades!
Aibek BurabayevINO.com Contributor
Disclosure: This contributor has no positions in any stocks mentioned in this article. This article is the opinion of the contributor themselves. The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. This contributor is not receiving compensation (other than from INO.com) for their opinion.

The stock market has witnessed significant volatility due to several macroeconomic and geopolitical headwinds this year. With inflation remaining elevated and the possibility of the Fed raising interest rates aggressively, the market is expected to remain volatile.
Amid this uncertain environment, a good strategy could be buying stocks that have gained momentum recently and are well-positioned to maintain the same based on their strong fundamentals and growth prospects, irrespective of the market movements. Investors’ interest in momentum stocks is evident from the Invesco DWA Momentum ETF’s (PDP) 8.2% returns over the past month.
PBF Energy Inc. (PBF), Global Partners LP (GLP), and GeoPark Limited (GPRK) have shown no signs of slowing down and are currently trading at discounts to their peers.
Strong fundamentals should help these stocks maintain their momentum in the upcoming months. So, it could be wise to invest in these stocks.
PBF Energy Inc. (PBF)
PBF is a petroleum refiner and supplier of gasoline, diesel fuel, jet fuel, unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants, and other petroleum products. The company operates through two segments: Refining; and Logistics.
On July 28, 2022, PBF announced the acquisition of the remaining public stake in PBF Logistics LP. As of July 22, 2022, it owned approximately 47.7% of the outstanding common units of PBF Logistics.

Tom Nimbley, PBF Energy’s and PBF Logistics’ Chairman and CEO, said, “This transaction will ultimately allow us to simplify our corporate structure and eliminate administrative, compliance, and cost burdens of running a separate public company. Following consummation of the merger, we believe that the combined company will have a significantly enhanced financial profile.”
For the second quarter, which ended June 30, 2022, PBF’s revenues increased 104.1% year-over-year to $14.08 billion. Its income from operations rose 1,057% from its year-ago value to $1.71 billion.
The company’s adjusted net income increased 2,416% year-over-year to $1.21 billion, while its EPS grew 2,374.3% from the prior-year quarter to $9.65. Also, its adjusted EBITDA grew substantially from the year-ago value to $1.91 billion.
In terms of forward non-GAAP P/E, PBF is currently trading at 1.95x, 74.9% lower than the industry average of 7.76x. Its forward EV/S multiple of 0.16x is 91.9% lower than the industry average of 1.95x. In addition, the stock’s forward EV/EBITDA and EV/EBIT ratios came in at 1.85x and 2.21x, compared to the industry averages of 5.67x and 8.64x, respectively.
Analysts expect PBF’s revenues to increase 44.1% year-over-year to $10.36 billion in its fiscal third quarter (ending September 30, 2022). Its EPS is expected to increase significantly to $5.71 in the current quarter.
Shares of PBF have gained 194.9% year-to-date to close the last trading session at $38.25. PBF is currently trading above its 50-day and 200-day moving averages of $31.66 and $24.08, respectively, indicating an uptrend.
PBF’s POWR Ratings reflect this promising outlook. The company has an overall B rating, which translates to a Buy in this proprietary rating system.
It has an A grade for Growth, Value, and Momentum and a B for Quality. Within the B-rated Energy – Oil & Gas industry, it is ranked #7 of 97 stocks. Click here to learn more about POWR Ratings.
Global Partners LP (GLP)
GLP purchases, sell, gathers, blends, stores, and manages the logistics of transporting gasoline and gasoline blend stocks, distillates, residual oil, renewable fuels, crude oil, and propane to wholesalers, retailers, and commercial customers in the New England states, Mid-Atlantic region and New York.
On February 2, 2022, the company expanded its retail footprint in the Mid-Atlantic region by acquiring Miller’s Neighborhood market. Global Partners LP President and CEO Eric Slifka said, “Acquiring these high-quality locations enables us to further capitalize on our scale, supply relationships, and integrated model to enhance product margin along each step of the value chain.”
GLP’s sales increased 62.3% year-over-year to $5.32 billion for the second quarter ended June 30, 2022. Its gross profit grew 58.1% from the year-ago value to $281.48 million, while its operating income rose 466.2% year-over-year to $186.81 million. The company’s adjusted EBITDA increased 129.9% year-over-year to $134.91 million. Also, its net income and EPS increased 1,241.2% and 1,904.3% year-over-year to $162.81 million and $4.61.
In terms of forward P/S, GLP is currently trading at 0.05x, 96.5% lower than the industry average of 1.45x. Its forward EV/S multiple of 0.13x is 93.2% lower than the industry average of 1.95x. In addition, the stock’s forward EV/EBIT ratio of 6.89x compares to the industry average of 8.64x.
Analysts expect GLP’s EPS and revenue for the quarter ending September 30, 2022, to increase 54.6% and 23.8% year-over-year to $1.33 and $4.11 billion, respectively. It surpassed the consensus EPS estimates in three of the trailing four quarters. The stock has gained 18.5% year-to-date to close the last trading session at $27.84.
GLP is currently trading above its 50-day and 200-day moving averages of $25.50 and $25.76, respectively, indicating an uptrend.
GLP’s strong fundamentals are reflected in its POWR Ratings. It has an overall rating of A, which equates to a Strong Buy in this proprietary rating system.
It has an A grade for Value and Momentum and a B for Sentiment. Within the A-rated MLPs – Oil & Gas industry, it is ranked #2 out of 34 stocks. Click here to learn more about POWR Ratings.
GeoPark Limited (GPRK)
Headquartered in Bogotá, Colombia, GPRK explores, develops, and produces oil and gas reserves in five geographical segments: Chile, Colombia, Brazil, Argentina, and Ecuador. As of December 31, 2021, the company had working or economic interests in 42 hydrocarbon blocks.
On August 10, 2022, the company’s Board of Directors increased its quarterly cash dividend for the third time in a year to $0.127 per share from $0.082 per share. This reflects the company’s strong cash flows.
In the second quarter ending June 30, 2022, GPRK’s revenue increased 88% year-over-year to $311.20 million. Its operating profit grew 646.9% from its year-ago value to $143.40 million, while its net profit came in at $67.90 million compared to a loss of $2.50 million in the year-ago period.
In terms of forward non-GAAP P/E, GPRK is currently trading at 2.89x, 62.7% lower than the industry average of 7.76x. Its forward EV/S multiple of 1.16x is 40.3% lower than the industry average of 1.95x. In addition, the stock’s forward EV/EBITDA and EV/EBIT ratios of 2.31x and 3.01x compare to the industry averages of 5.67x and 8.64x, respectively.

The consensus EPS estimate of $4.54 for fiscal 2022 represents a 330.2% year-over-year growth. Analysts expect its revenue to increase 48.3% year-over-year to $258 million for the third quarter ending September 30, 2022. It surpassed the consensus EPS estimates in each of the trailing four quarters, which is excellent.
The shares of GPRK have gained 14.8% year-to-date to close the last trading session at $13.15. GPRK is trading above its 50-day moving average of $12.46.
GPRK’s POWR Ratings reflect solid prospects. The stock has an overall B rating, equating to a Buy in this proprietary rating system.
It has an A grade for Value and Momentum and a B for Quality. It is ranked #9 out of 43 stocks in the A-rated Foreign Oil & Gas industry. Click here to learn more about POWR Ratings.

About the Author
Shweta Kumari’s profound interest in financial research and quantitative analysis led her to pursue a career as an investment analyst. She uses her knowledge to help retail investors make educated investment decisions. Shweta graduated with a bachelor’s degree in accounting and finance and is currently pursuing the Chartered Accountancy course. Shweta is a regular contributor for StockNews.com.

Last Monday, August 15 gold opened at approximately $1816 per ounce and scored strong price declines over the last five consecutive days, characterized by four lower highs, and four lower lows taking the most active December contract of gold futures to $1760 with under a half hour of trading before closing for the weekend.
In a single week, gold lost $56 in value. Gold sustained a price decline of approximately 3.083% over the last five trading days.

This is significant but certainly not extremely rare. Historically speaking we can easily identify weeks in which gold had a significant drawdown greater than this week’s price decline. Only five weeks ago, during the week of July 4 gold sustained a weekly drawdown of $71. This represents a weekly price decline of 3.861%.

On the other hand, the gains last week in the dollar index are rare and I believe extremely significant.

In terms of percentage advance, gold did experience a larger percentage drop than the dollar gained. The weekly advance for the dollar index is 2.217%.
However, to identify the last instance the dollar declined this deep in a single week occurred during the week of March 16, 2020, well over two years ago. In a single week, the dollar index opened at 98.46 and closed at 103.48, a strong price advance of 502 points which is a weekly gain of 4.851% more than double last week’s gain.
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Gold prices are based on two primary underlying factors. The first is dollar strength or weakness, and the second is traders bidding the precious metal higher or lower.
Simple math tells us that gold’s decline of 3.86% compared to a 2.21% gain in the dollar index is the net result of 1.65% of this week’s decline attributable to market participants actively selling gold with the remaining 2.21% directly attributable to dollar strength.
It is an accepted fact that both gold and the dollar are in direct competition as a haven asset in times of economic uncertainty. When economic uncertainty is coupled with the certainty that the Federal Reserve will continue to raise rates it places the dollar in a stronger position as higher U.S. Treasury yields directly support the dollar.
Add to the fact that gold does not yield any interest the scales are certainly tipped to favor the dollar for as long as monetary tightening is the guiding principle of the Federal Reserve as it tries to reduce the level of inflation.

At least for last week, it is obvious that market participants are laser-focused on further interest rate hikes rather than on the current level of inflation.
Market participants have shifted their focus between concern about rising rates over concern about inflationary levels on more occasions than I can count. This tug-of-war will most certainly continue until it is perceived that the Federal Reserve has completed its monetary tightening and interest rate hikes.
For those who would like more information simply use this link.
Wishing you, as always good trading,Gary S. WagnerThe Gold Forecast