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Big movements in Faraday Future Intelligent Electric Inc. stock price on Monday moving 23.10% between high and low

StockInvest.us, 1 week ago

Faraday Future Intelligent Electric Inc.

The Faraday Future Intelligent Electric Inc. stock price fell by -8.29% on the last day (Monday, 10th Jun 2024) from $0.611 to $0.560. During the last trading day the stock fluctuated 23.10% from a day low at $0.526 to a day high of $0.647. The price has risen in 6 of the last 10 days but is still down by -51.72% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -333 million shares and in total, 82 million shares were bought and sold for approximately $45.83 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 $0.323 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 77.71% during the next 3 months and, with a 90% probability hold a price between $0.574 and $3.54 at the end of this 3-month period.

Faraday Future Intelligent Electric Inc.

The Faraday Future Intelligent Electric Inc. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $0.573. On a fall, the stock will find some support from the long-term average at approximately $0.493. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, May 20, 2024, and so far it has fallen -68.89%. 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 fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Faraday Future Intelligent Electric Inc. finds support from accumulated volume at $0.544 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 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 $0.121 between high and low, or 23.10%. For the last week, the stock has had daily average volatility of 23.55%.

Faraday Future Intelligent Electric Inc. is oversold on RSI14 (18). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Faraday Future Intelligent Electric Inc. stock to perform well in the short-term.

Check full Faraday Future Intelligent Electric Inc. forecast and analysis here.