On Tuesday Mullen Automotive stock price gained impressive 5.33%

The Mullen Automotive stock price gained 5.33% on the last trading day (Tuesday, 31st Jan 2023), rising from $0.327 to $0.344. During the last trading day the stock fluctuated 8.94% from a day low at $0.330 to a day high of $0.360. The price has been going up and down for this period, and there has been a 14.63% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 97 million more shares were traded than the day before. In total, 213 million shares were bought and sold for approximately $73.29 million.

The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled.Given the current short-term trend, the stock is expected to rise 18.74% during the next 3 months and, with a 90% probability hold a price between $0.274 and $0.519 at the end of this 3-month period.

The Mullen Automotive 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 $0.323 and $0.297. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, January 19, 2023, and so far it has risen 27.37%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

On the downside, the stock finds support just below today's level from accumulated volume at $0.314 and $0.302.There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Mullen Automotive finds support just below today's level at $0.314. If this is broken, then the next support from accumulated volume will be at $0.302 and $0.263.

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 $0.0295 between high and low, or 8.94%. For the last week, the stock has had daily average volatility of 13.64%.

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Mullen Automotive stock to perform well in the short-term.