A very red day for Faraday Future Intelligent Electric Inc. stock price after a -7.57% fall in the Tuesday trading session

The Faraday Future Intelligent Electric Inc. stock price fell by -7.57% on the last day (Tuesday, 18th Jun 2024) from $0.512 to $0.474. During the last trading day the stock fluctuated 9.78% from a day low at $0.465 to a day high of $0.511. The price has fallen in 7 of the last 10 days and is down by -15.01% for this period. Volume has increased on the last day by 4 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 41 million shares were bought and sold for approximately $19.57 million.

The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.397 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift.Given the current short-term trend, the stock is expected to rise 69.59% during the next 3 months and, with a 90% probability hold a price between $0.673 and $3.51 at the end of this 3-month period.

There are few to no technical positive signals at the moment. The Faraday Future Intelligent Electric Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.521 and $0.573. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 20, 2024, and so far it has fallen -73.69%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

On the downside, the stock finds support just below today's level from accumulated volume at $0.444.With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the stock price.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0455 between high and low, or 9.78%. For the last week, the stock has had daily average volatility of 10.68%.

The Faraday Future Intelligent Electric Inc. stock holds several negative signals and despite the positive trend, we believe Faraday Future Intelligent Electric Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.