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A very strong day for Churchill Capital Corp IV stock price on Monday

StockInvest.us, 3 months ago


The Churchill Capital Corp IV stock price gained 7.23% on the last trading day (Monday, 28th Jun 2021), rising from $25.18 to $27.00. , and has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the day the stock fluctuated 5.20% from a day low at $26.03 to a day high of $27.38. The price has been going up and down for this period, and there has been a 11.94% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 7 million more shares were traded than the day before. In total, 19 million shares were bought and sold for approximately $500.45 million.

The stock lies in the upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $27.27 will firstly indicate a stronger rate of rising.Given the current short-term trend, the stock is expected to rise 11.58% during the next 3 months and, with a 90% probability hold a price between $20.80 and $30.43 at the end of this 3-month period.

Churchill Capital Corp IV

The Churchill Capital Corp IV stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $24.55 and $22.12. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 15, 2021, and so far it has risen 19.42%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 months Moving Average Convergence Divergence (MACD).

Churchill Capital Corp IV finds support from accumulated volume at $26.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $1.35 between high and low, or 5.20%. For the last week, the stock has had a daily average volatility of 5.54%.

Churchill Capital Corp IV holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

Check full Churchill Capital Corp IV forecast and analysis here.