Strong day for FREYR Battery stock price on Thursday rising 6.95% to $8.92

The FREYR Battery stock price gained 6.95% on the last trading day (Thursday, 30th Mar 2023), rising from $8.34 to $8.92. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 6.12% from a day low at $8.49 to a day high of $9.01. The price has risen in 7 of the last 10 days and is up by 22.87% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 899 thousand more shares were traded than the day before. In total, 9 million shares were bought and sold for approximately $80.61 million.

BTIG is very positive about FREY and gave it a "" rating on Sep 01, 2022. The price target was set to 25.

The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $8.53, a level that may pose a second chance to hit a runner. According to fan-theory $10.22 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.

Mostly positive signals in the chart today. The FREYR Battery stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $7.59 and $8.14. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, March 23, 2023, and so far it has risen 26.52%. 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.

FREYR Battery finds support from accumulated volume at $8.79 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.520 between high and low, or 6.12%. For the last week, the stock has had daily average volatility of 6.83%.

Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period.