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High volatility in Faraday Future Intelligent Electric Inc. stock price on Tuesday which ended trading at $0.285

StockInvest.us, 4 days ago

Faraday Future Intelligent Electric Inc.

The Faraday Future Intelligent Electric Inc. stock price gained 367.54% on the last trading day (Tuesday, 14th May 2024), rising from $0.0610 to $0.285. It has now gained 3 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 299.78% from a day low at $0.0900 to a day high of $0.360. The price has risen in 7 of the last 10 days and is up by 546.71% 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, 1 billion more shares were traded than the day before. In total, 2 billion shares were bought and sold for approximately $430.74 million.

The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $0.147, a level that may pose a second chance to hit a runner.

Faraday Future Intelligent Electric Inc.

The Faraday Future Intelligent Electric Inc. 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 $0.0800 and $0.0725. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 02, 2024, and so far it has risen 611.22%. 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.

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

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 $0.270 between high and low, or 299.78%. For the last week, the stock has had daily average volatility of 78.02%.

The Faraday Future Intelligent Electric Inc. stock is extremely overbought on RSI14 (94). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

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.

Check full Faraday Future Intelligent Electric Inc. forecast and analysis here.