Volatile ride for Faraday Future Intelligent Electric Inc. stock price on Thursday moving between $1.13 and $1.47

StockInvest.us, 1 month ago

Faraday Future Intelligent Electric Inc.

The Faraday Future Intelligent Electric Inc. stock price gained 6.25% on the last trading day (Thursday, 23rd May 2024), rising from $1.12 to $1.19. During the last trading day the stock fluctuated 30.09% from a day low at $1.13 to a day high of $1.47. The price has risen in 7 of the last 10 days and is up by 2831.03% over the past 2 weeks. Volume fell on the last day by -762 thousand shares and in total, 196 million shares were bought and sold for approximately $233.17 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

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 52.49% during the next 3 months and, with a 90% probability hold a price between $0.210 and $2.79 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 $1.27. On a fall, the stock will find some support from the long-term average at approximately $0.308. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 -33.89%. 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 $1.12 and $1.03.With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $1.03 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 $0.340 between high and low, or 30.09%. For the last week, the stock has had daily average volatility of 103.34%.

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.