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Volatile ride for Faraday Future Intelligent Electric Inc. stock price on Friday moving between $0.90 and $3.89

StockInvest.us, 1 month ago

Faraday Future Intelligent Electric Inc.

The Faraday Future Intelligent Electric Inc. stock price fell by -37.58% on the last day (Friday, 17th May 2024) from $1.65 to $1.03. During the last trading day the stock fluctuated 332.22% from a day low at $0.90 to a day high of $3.89. The price has risen in 7 of the last 10 days and is up by 2418.34% over the past 2 weeks. Volume has increased on the last day by 133 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, 1 billion shares were bought and sold for approximately $1.27 billion.

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 15.56% during the next 3 months and, with a 90% probability hold a price between $0.0718 and $1.91 at the end of this 3-month period.

Faraday Future Intelligent Electric Inc.

The Faraday Future Intelligent Electric Inc. 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 $0.545 and $0.161. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, May 16, 2024, and so far it has fallen -37.58%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

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 $2.99 between high and low, or 332.22%. For the last week, the stock has had daily average volatility of 210.14%.

Faraday Future Intelligent Electric Inc. 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.

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