Big movements in Meta Materials stock price on Tuesday moving 14.04% between high and low

The Meta Materials stock price gained 9.91% on the last trading day (Tuesday, 29th Nov 2022), rising from $1.81 to $1.99. During the last trading day the stock fluctuated 14.04% from a day low at $1.78 to a day high of $2.03. The price has been going up and down for this period, and there has been a 18.15% 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, 3 million more shares were traded than the day before. In total, 12 million shares were bought and sold for approximately $24.57 million.

The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled.Given the current short-term trend, the stock is expected to rise 111.18% during the next 3 months and, with a 90% probability hold a price between $2.90 and $4.92 at the end of this 3-month period.

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 $1.92 and $1.35. A breakdown below any of these levels will issue sell signals. 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. 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, November 21, 2022, and so far it has fallen -11.17%. Further fall is indicated until a new bottom pivot has been found.

On the downside, the stock finds support just below today's level from accumulated volume at $1.87 and $1.68.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 $1.87. If this is broken, then the next support from accumulated volume will be at $1.68 and $1.62.

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 $0.250 between high and low, or 14.04%. For the last week, the stock has had daily average volatility of 11.27%.

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 Meta Materials stock to perform well in the short-term.