14-day Premium Trial Subscription Try For FreeTry Free

Big movements in Faraday Future Intelligent Electric Inc. stock price on Thursday moving 15.48% between high and low

StockInvest.us, 2 weeks ago

Faraday Future Intelligent Electric Inc.

The Faraday Future Intelligent Electric Inc. stock price gained 2.35% on the last trading day (Thursday, 6th Jun 2024), rising from $0.532 to $0.544. During the last trading day the stock fluctuated 15.48% from a day low at $0.500 to a day high of $0.578. The price has risen in 6 of the last 10 days but is still down by -51.43% for this period. Volume fell on the last day by -2 million shares and in total, 115 million shares were bought and sold for approximately $62.36 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

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 $0.289 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 76.53% during the next 3 months and, with a 90% probability hold a price between $0.510 and $3.46 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 $0.550. On a fall, the stock will find some support from the long-term average at approximately $0.463. 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. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 -69.78%. 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).

Faraday Future Intelligent Electric Inc. finds support from accumulated volume at $0.532 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 $0.0774 between high and low, or 15.48%. For the last week, the stock has had daily average volatility of 23.85%.

Faraday Future Intelligent Electric Inc. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

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