Big movements in Mullen Automotive, Inc. stock price on Thursday moving 24.06% between high and low

No changes to the price of Mullen Automotive, Inc. stock on the last trading day (Thursday, 21st Apr 2022). During the day the stock fluctuated 24.06% from a day low at $1.33 to a day high of $1.65. The price has fallen in 7 of the last 10 days and is down by -46.98% for this period.

The stock lies in the middle of a very wide and weak 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 3.32% during the next 3 months and, with a 90% probability hold a price between $0.70 and $3.46 at the end of this 3-month period.

The volume rose on the last day while price remained unchanged. This may be an early warning and 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. The Mullen Automotive, Inc. stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $1.91 and $2.16. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, March 22, 2022, and so far it has fallen -57.55%. 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).

Mullen Automotive, Inc. finds support from accumulated volume at $1.35 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 $0.32 between high and low, or 24.06%. For the last week, the stock has had a daily average volatility of 17.65%.

Mullen Automotive, Inc. is oversold on RSI14 (12). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

The Mullen Automotive, Inc. stock holds several negative signals and despite the positive trend, we believe Mullen Automotive, Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.