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High volatility in Churchill Capital Corp IV stock price on Tuesday which ended trading at $24.28

StockInvest.us, 4 months ago

StockInvest.us

The Churchill Capital Corp IV stock price gained 9.37% on the last trading day (Tuesday, 20th Jul 2021), rising from $22.20 to $24.28. During the day the stock fluctuated 11.69% from a day low at $22.15 to a day high of $24.74. The price has fallen in 7 of the last 10 days and is down by -7.96% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 12 million shares were bought and sold for approximately $292.50 million.

The stock lies in the middle of a very wide and strong 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 30.64% during the next 3 months and, with a 90% probability hold a price between $29.15 and $39.60 at the end of this 3-month period.

Churchill Capital Corp IV

There are mixed signals in the stock today. The Churchill Capital Corp IV stock holds a buy signal from the short-term moving average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term moving average at $24.84. On a fall, the stock will find some support from the short-term average at $24.11. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Wednesday, June 30, 2021, and so far it has fallen -15.75%. 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 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 $23.87 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 $2.59 between high and low, or 11.69%. For the last week, the stock has had a daily average volatility of 8.61%.

Churchill Capital Corp IV holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Check full Churchill Capital Corp IV forecast and analysis here.