Invinity Energy Systems PLC: Will IES Stock Restest 45 Mark?

• Invinity Energy Systems Plc revealed earnings guidance for the first half of 2023.
• The IES stock is currently trading at £41.0.
• The year-to-date return of the IES stock is -4.47% and the three-month return is 2.50%.

Invinity Energy Systems Plc. is a Jersey-based British multinational company that manufactures vanadium flow batteries for the large-scale energy storage requirements of businesses, industries, and electricity networks.

Since the start of 2023, the IES stock is reflecting downtrend momentum forming lower lows and lower highs until March, when the price gained bullish momentum and surged roughly 60% in less than one month from the annual low of £28.0 to the resistance level of £47.0.

But was halted there and witnessed a drop down to the £32.3 support level. From there, the IES stock price consolidated from £45 to £33, where it sustained till 29 June 2023.

However, on 30 June 2023, the IES stock experienced a sudden hike in price with a gain of roughly 38% in just 3 days and achieved an annual high at £59 but did not sustain there. Then the price dragged down, with a downtrend while forming lower lows.

Hence, the bears grab complete control of the price. However, the bearish momentum influenced the price drastically, and the price showed rejection from £45, a significant resistance level.

Invinity Energy Systems PLC Revealed Earnings Guidence for H1-2023.

Invinity Energy Systems plc. revealed that it is now expected to witness a total income of not less than £13.0 Million for the first half-yearly financial report of 2023 (H1-2023), which is more than a 3.6x increase in comparison to the total financial year of 2022 income which was £3.6 Million.

Will Bearish Trend Sustain?

The relative strength index (RSI) trades at 34.73 during the intraday session. RSI denotes the weakness in the market as the price has been declining since 28 July 2023.

The CMF (Chaikin money flow) score is -0.18 during the intraday session, indicating the heavy involvement of sellers in the market and a sign that the price might melt down further.

It is currently trading below the 20, 50, 100, and 200-day EMA, indicating weakness and a stronghold of bears in the market. 

Conclusion 

The current market structure of IES stock is in a downtrend, and there is a high possibility that the price might melt toward the previous support level of £35. If the next candle breaks the previous candle’s low.

On the contrary, if the next candle can break the last candle’s high, there is a high probability. That the price might hike and retest the significant resistance level of the £45 mark. However, the upcoming earnings expectations of the IES stock have raised confidence among investors.