Enviva $EVA stock is testing its lower downtrend channelUptrend and downtrend channel patterns are technical analysis tools used to identify potential future price movements. They are formed by two parallel lines on a chart and can be u... wall on October 18, 2022, as Raymond James upgraded the stock to a Strong Buy rating.
Enviva upgraded to Strong Buy from Outperform at Raymond James
On October 18, 2022, Raymond James analyst Pavel Molchanov upgraded Enviva to Strong Buy from Outperform with an unchanged price target of $80. The pressure on Enviva shares caused by the short report last week is a textbook example of sentiment-based multiple compression. Molchanov thinks the stock’s recent plunge provides an interesting entry point, especially considering the rising dividend payout.
Raymond James and Citi are really pushing the short squeeze on Blue Orca but it appears Blue Orca is winning that battle.
Enviva $EVA Stock Technical Analysis
Enviva $EVA stock is in a technical strong downtrend rating. It has broken below its downtrend channel wall (grey dotted lines). The MACDThe MACD indicator is essentially a momentum indicator that shows the relationship between two different moving averages of price. The MACD is the difference between the 12-period ... and money flow continue to favor the Bears.