Churchill Capital Corp IV stock downgraded to Hold/Accumulate

The Churchill Capital Corp IV stock price fell by -0.84% on the last day (Thursday, 24th Jun 2021) from $25.06 to $24.85. During the day the stock fluctuated 5.97% from a day low at $24.80 to a day high of $26.28. The price has fallen in 7 of the last 10 days and is down by -2.09% for this period. Volume has increased on the last day by 1 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 14 million shares were bought and sold for approximately $355.87 million.

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 6.73% during the next 3 months and, with a 90% probability hold a price between $19.25 and $28.78 at the end of this 3-month period.

There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Tuesday, June 08, 2021, and so far it has fallen -6.72%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 months Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The Churchill Capital Corp IV 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 $23.90 and $21.72. A breakdown below any of these levels will issue sell signals.

Churchill Capital Corp IV finds support from accumulated volume at $24.03 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $1.48 between high and low, or 5.97%. For the last week, the stock has had a daily average volatility of 5.15%.

Churchill Capital Corp IV holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Hold/Accumulate candidate.