Big movements in Meta Materials stock price on Wednesday moving 21.24% between high and low

The Meta Materials stock price gained 9.07% on the last trading day (Wednesday, 7th Dec 2022), rising from $1.88 to $2.05. It 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 last trading day the stock fluctuated 21.24% from a day low at $1.93 to a day high of $2.34. The price has risen in 6 of the last 10 days but is still down by -0.73% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 41 million more shares were traded than the day before. In total, 51 million shares were bought and sold for approximately $103.70 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 140.5% during the next 3 months and, with a 90% probability hold a price between $3.90 and $5.98 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 $1.88 and $1.51. A breakdown below any of these levels will issue sell signals. 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 -8.48%. 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).

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 $0.410 between high and low, or 21.24%. For the last week, the stock has had daily average volatility of 12.90%.

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.We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.