High volatility in Faraday Future Intelligent Electric Inc. stock price on Thursday which ended trading at $0.600

The Faraday Future Intelligent Electric Inc. stock price gained 30.86% on the last trading day (Thursday, 27th Jun 2024), rising from $0.459 to $0.600. During the last trading day the stock fluctuated 38.00% from a day low at $0.500 to a day high of $0.690. The price has fallen in 7 of the last 10 days but is still up by 15.1% over the past 2 weeks. Volume fell on the last day by -78 million shares and in total, 557 million shares were bought and sold for approximately $334.20 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.289 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift.Given the current short-term trend, the stock is expected to rise 53.16% during the next 3 months and, with a 90% probability hold a price between $0.442 and $3.23 at the end of this 3-month period.

There are mixed signals in the stock today. The Faraday Future Intelligent Electric Inc. 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 $0.636. On a fall, the stock will find some support from the short-term average at $0.418. 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 Monday, May 20, 2024, and so far it has fallen -66.67%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

Faraday Future Intelligent Electric Inc. finds support from accumulated volume at $0.583 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 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 $0.190 between high and low, or 38.00%. For the last week, the stock has had daily average volatility of 45.66%.

Faraday Future Intelligent Electric Inc. 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.We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.