High volatility in Faraday Future Intelligent Electric Inc. stock price on Wednesday which ended trading at $0.459

The Faraday Future Intelligent Electric Inc. stock price gained 73.02% on the last trading day (Wednesday, 26th Jun 2024), rising from $0.265 to $0.459. During the last trading day the stock fluctuated 101.42% from a day low at $0.295 to a day high of $0.595. The price has fallen in 8 of the last 10 days and is down by -18.05% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 472 million more shares were traded than the day before. In total, 635 million shares were bought and sold for approximately $291.17 million.

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 $0.277 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 54.19% during the next 3 months and, with a 90% probability hold a price between $0.427 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 $0.620. On a fall, the stock will find some support from the short-term average at $0.405. 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 -74.53%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell 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.

Faraday Future Intelligent Electric Inc. finds support from accumulated volume at $0.444 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 $0.300 between high and low, or 101.42%. For the last week, the stock has had daily average volatility of 41.56%.

Faraday Future Intelligent Electric Inc. 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.