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High volatility in Faraday Future Intelligent Electric Inc. stock price on Wednesday which ended trading at $0.532

StockInvest.us, 2 weeks ago

Faraday Future Intelligent Electric Inc.

The Faraday Future Intelligent Electric Inc. stock price fell by -4.60% on the last day (Wednesday, 5th Jun 2024) from $0.557 to $0.532. During the last trading day the stock fluctuated 29.19% from a day low at $0.461 to a day high of $0.595. The price has been going up and down for this period, and there has been a -61.76% loss for the last 2 weeks. Volume has increased on the last day by 18 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 116 million shares were bought and sold for approximately $61.90 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 $0.273 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 75.88% during the next 3 months and, with a 90% probability hold a price between $0.480 and $3.42 at the end of this 3-month period.

Faraday Future Intelligent Electric Inc.

A sell signal was issued from a pivot top point on Monday, May 20, 2024, and so far it has fallen -70.47%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. Some positive signals were issued as well, and these may have some influence on the near short-term development. The Faraday Future Intelligent Electric Inc. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $0.639. On a fall, the stock will find some support from the long-term average at approximately $0.449. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal.

On the downside, the stock finds support just below today's level from accumulated volume at $0.444.With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the stock price.

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 $0.134 between high and low, or 29.19%. For the last week, the stock has had daily average volatility of 36.48%.

Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.

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