Big movements in Momentus Inc. stock price on Monday moving 65.17% between high and lowStockInvest.us, 1 month ago
The Momentus Inc. stock price gained 55.95% on the last trading day (Monday, 16th Oct 2023), rising from $3.11 to $4.85. 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 65.17% from a day low at $3.33 to a day high of $5.50. The price has risen in 6 of the last 10 days and is up by 172.47% 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, 31 million more shares were traded than the day before. In total, 48 million shares were bought and sold for approximately $232.65 million.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $2.09, a level that may pose a second chance to hit a runner. According to fan-theory $5.97 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.Due to the high volatility and the trend direction we are not able to give forecast range for this stock. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
Mostly positive signals in the chart today. The Momentus Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $2.44 and $3.85. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, October 04, 2023, and so far it has risen 340.91%. 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.
Momentus Inc. finds support from accumulated volume at $4.83 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 $2.17 between high and low, or 65.17%. For the last week, the stock has had daily average volatility of 60.39%.
The Momentus Inc. stock is extremely overbought on RSI14 (76). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.Check full Momentus Inc. forecast and analysis here.