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Volatile ride for Faraday Future Intelligent Electric Inc. stock price on Thursday moving between $0.428 and $0.764

StockInvest.us, 3 weeks ago

Faraday Future Intelligent Electric Inc.

The Faraday Future Intelligent Electric Inc. stock price gained 27.26% on the last trading day (Thursday, 30th May 2024), rising from $0.444 to $0.565. During the last trading day the stock fluctuated 78.59% from a day low at $0.428 to a day high of $0.764. The price has been going up and down for this period, and there has been a -19.82% loss 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, 190 million more shares were traded than the day before. In total, 569 million shares were bought and sold for approximately $321.56 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 73.47% during the next 3 months and, with a 90% probability hold a price between $0.376 and $3.28 at the end of this 3-month period.

Faraday Future Intelligent Electric Inc.

The Faraday Future Intelligent Electric Inc. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $1.01. On a fall, the stock will find some support from the long-term average at approximately $0.392. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. 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 Monday, May 20, 2024, and so far it has fallen -68.59%. Further fall is indicated until a new bottom pivot has been found.

On the downside, the stock finds support just below today's level from accumulated volume at $0.444.With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the stock price.

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 $0.336 between high and low, or 78.59%. For the last week, the stock has had daily average volatility of 53.05%.

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 Faraday Future Intelligent Electric Inc. stock to perform well in the short-term.

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