Big movements in Meta Materials stock price on Tuesday moving 13.79% between high and low

The Meta Materials stock price gained 11.23% on the last trading day (Tuesday, 15th Nov 2022), rising from $1.68 to $1.87. It has now gained 4 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 last trading day the stock fluctuated 13.79% from a day low at $1.74 to a day high of $1.98. The price has risen in 7 of the last 10 days and is up by 62.49% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 6 million more shares were traded than the day before. In total, 25 million shares were bought and sold for approximately $46.75 million.

Given the current short-term trend, the stock is expected to rise 47.39% during the next 3 months and, with a 90% probability hold a price between $1.37 and $2.75 at the end of this 3-month period.

Mostly positive signals in the chart today. The Meta Materials 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 $1.51 and $1.04. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, October 03, 2022, and so far it has risen 193.67%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.

On the downside, the stock finds support just below today's level from accumulated volume at $1.68 and $1.62.There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Meta Materials finds support just below today's level at $1.68. If this is broken, then the next support from accumulated volume will be at $1.62 and $1.46.

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 $0.240 between high and low, or 13.79%. For the last week, the stock has had daily average volatility of 17.91%.

Meta Materials 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.