EV Stock GreenPower Gains 9%, Eyes $1.20-$1.50 Range
$GreenPower Motor Company Inc.(GP)$
GreenPower Motor Company Inc.(GP) Jumps +9.06%: EV Bus Maker Rebounds from Lows, $1.20 Resistance in Sight
Latest Close Data
Closed at $1.06 on 2026-02-02, up +9.06% for the day. The stock remains significantly down, approximately 87% below its 52-week high of $8.40.
Core Market Drivers
The positive move is primarily driven by a technical rebound from oversold conditions, with no major company-specific news reported. The broader electric vehicle sector sentiment and potential for short covering may have contributed to the uptick.
Technical Analysis
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Volume was elevated at 168.9K shares (Volume Ratio: 2.83), confirming the bullish move.
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The 6-day RSI surged to 65.1, moving out of the oversold zone (<30) and indicating strong buying momentum.
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The MACD histogram turned significantly positive to 0.016, suggesting a potential bullish crossover is forming.
Key Price Levels
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Primary Support: $0.97 (today's low, immediate floor).
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Strong Resistance: $1.20 (recent technical resistance level).
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Immediate Pivot: $1.06 (today's close, key for continuation).
Valuation Perspective
The stock trades at a P/S ratio of 0.34, which is low and could indicate undervaluation relative to sales. However, profitability remains a major concern with a negative TTM P/E of -0.19 and deeply negative ROE/ROA figures.
Analyst Targets
Coverage is extremely limited. Only 1 analyst has a target, set at $30.0 with a "Hold" rating, implying massive upside potential but also highlighting significant uncertainty.
Weekly Outlook
The technical bounce is strong. Expect consolidation between $1.00 and $1.20 in the coming week. A decisive break above $1.20 could target the $1.40-$1.50 zone, while a fall below $0.97 may lead to a retest of the 52-week low near $0.74.
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