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Churchill Capital Corp IV stock upgraded from Sell Candidate to Buy Candidate after Tuesday trading session.

StockInvest.us, 6 months ago


The Churchill Capital Corp IV stock price gained 4.54% on the last trading day (Tuesday, 25th May 2021), rising from $19.40 to $20.28. During the day the stock fluctuated 7.58% from a day low at $19.13 to a day high of $20.58. The price has risen in 6 of the last 10 days and is up by 9.03% 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, 8 million more shares were traded than the day before. In total, 15 million shares were bought and sold for approximately $304.92 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 -29.43% during the next 3 months and, with a 90% probability hold a price between $11.27 and $16.44 at the end of this 3-month period.

Churchill Capital Corp IV

Mostly positive signals in the chart today. The Churchill Capital Corp IV 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 $19.42 and $20.23. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 13, 2021, and so far it has risen 17.57%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 months Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.

Churchill Capital Corp IV finds support from accumulated volume at $20.12 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 $1.45 between high and low, or 7.58%. For the last week, the stock has had a daily average volatility of 4.69%.

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 Sell Candidate to a Buy Candidate candidate.

Check full Churchill Capital Corp IV forecast and analysis here.