Mullen Automotive stock upgraded from Strong Sell Candidate to Sell Candidate after Thursday trading session.

The Mullen Automotive stock price gained 4.48% on the last trading day (Thursday, 8th Dec 2022), rising from $0.181 to $0.189. During the last trading day the stock fluctuated 8.47% from a day low at $0.189 to a day high of $0.205. The price has fallen in 7 of the last 10 days and is down by -5.97% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 36 million more shares were traded than the day before. In total, 116 million shares were bought and sold for approximately $21.95 million.

The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled.Given the current short-term trend, the stock is expected to fall -38.69% during the next 3 months and, with a 90% probability hold a price between $0.0409 and $0.255 at the end of this 3-month period.

There are mixed signals in the stock today. The Mullen Automotive stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.195 and $0.304. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Wednesday, December 07, 2022, and so far it has risen 4.48%. 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.

Mullen Automotive finds support from accumulated volume at $0.187 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 $0.0160 between high and low, or 8.47%. For the last week, the stock has had daily average volatility of 6.10%.

Mullen Automotive 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.We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.