Big movements in Mullen Automotive stock price on Thursday moving 13.79% between high and low

No changes to the price of Mullen Automotive stock on the last trading day (Thursday, 16th Mar 2023). During the last trading day the stock fluctuated 13.79% from a day low at $0.140 to a day high of $0.159. The price has fallen in 7 of the last 10 days and is down by -30.29% for this period.

The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.147 is broken, it will firstly indicate a stronger fall rate.Given the current short-term trend, the stock is expected to fall -22.17% during the next 3 months and, with a 90% probability hold a price between $0.114 and $0.291 at the end of this 3-month period.

A buy signal was issued from a pivot bottom point on Wednesday, March 15, 2023, and so far it has fallen 0%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Mullen Automotive 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 $0.166 and $0.279. A break-up above any of these levels will issue buy signals. Volume fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days.

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

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 $0.0193 between high and low, or 13.79%. For the last week, the stock has had daily average volatility of 14.44%.

Mullen Automotive holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.