Big movements in Mullen Automotive stock price on Thursday moving 50.94% between high and low

The Mullen Automotive stock price gained 19.50% on the last trading day (Thursday, 15th Dec 2022), rising from $0.262 to $0.313. It has now gained 4 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 50.94% from a day low at $0.265 to a day high of $0.400. The price has been going up and down for this period, and there has been a 44.21% 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, 223 million more shares were traded than the day before. In total, 577 million shares were bought and sold for approximately $180.44 million.

The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled.Given the current short-term trend, the stock is expected to fall -31.13% during the next 3 months and, with a 90% probability hold a price between $0.0616 and $0.297 at the end of this 3-month period. 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 Mullen Automotive 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 $0.220 and $0.272. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, December 07, 2022, and so far it has risen 72.65%. 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.

On the downside, the stock finds support just below today's level from accumulated volume at $0.280 and $0.271.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, Mullen Automotive finds support just below today's level at $0.280. If this is broken, then the next support from accumulated volume will be at $0.271 and $0.262.

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 $0.135 between high and low, or 50.94%. For the last week, the stock has had daily average volatility of 20.29%.

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.