BLNK Stock Price: Blink Charging Company could be about to resume its uptrend

Blink Charging Company has dipped somewhat but there are some bullish signals.
The share price is over 6% higher on the session on Thursday.

FXStreet Team FXStreet

BLNK Stock

The NASDAQ:BLNK stock price has been performing well in recent sessions. Year to date the stock price is up around 224% making the firm attract attention. If you don't know about the firm they are a leader in nationwide electric vehicle (EV) charging equipment and networked EV charging services, enabling EV drivers to easily charge at thousands of locations throughout the US.

At the end of last year, the companies total revenue increased 3% to USD 2.8 million from USD 2.7 million for the year ended December 31, 2018. Charging service revenue for company-owned charging stations increased 7% to USD 1.4 million from USD 1.3 million for the year ended December 31, 2018.

In Q1 2020, total revenue for the three months ended March 31, 2020, increased by USD 721,474, or 125%, to a quarterly record of $1,298,864 as compared to $577,390 during the three months ended March 31, 2019. If the company keeps going like this they could smash last years records.

Looking at the chart below, the left-hand side is hourly and the right-hand side is daily. More recently the trend on the hourly is starting to align with the daily. The trendline was broken but the price did not close above the level. There has also been good volume to back the move higher and the Relative Strength Index indicator also has a trendline that has broken to the upside. Lastly, the MACD is also showing bullish signals as the histogram has turned green.

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FXStreet Team

FXStreet

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