Red day on Friday for Mullen Automotive stock after losing 0%

No changes to the price of Mullen Automotive stock on the last trading day (Friday, 24th Jun 2022). During the day the stock fluctuated 6.57% from a day low at $1.37 to a day high of $1.46. The price has risen in 6 of the last 10 days and is up by 21.67% over the past 2 weeks.

The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $1.55 will firstly indicate a slower falling rate, but may be the first sign of a trend shift.Given the current short-term trend, the stock is expected to fall -49.33% during the next 3 months and, with a 90% probability hold a price between $0.0350 and $0.79 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, June 22, 2022, and so far it has fallen -8.75%. 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 fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days. 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 $1.40 and $1.18. A breakdown below any of these levels will issue sell signals.

Mullen Automotive finds support from accumulated volume at $1.42 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 $0.0900 between high and low, or 6.57%. For the last week, the stock has had a daily average volatility of 13.56%.

Mullen Automotive 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.