Volatile ride for Meta Materials Inc. stock price on Friday moving between $9.88 and $10.99

The Meta Materials Inc. stock price gained 0.300% on the last trading day (Friday, 25th Nov 2022), rising from $10.00 to $10.03. During the last trading day the stock fluctuated 11.23% from a day low at $9.88 to a day high of $10.99. The price has risen in 6 of the last 10 days and is up by 44.52% 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, 72 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $16.79 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 385.92% during the next 3 months and, with a 90% probability hold a price between $35.64 and $59.82 at the end of this 3-month period.

The Meta Materials 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 $9.98 and $6.67. 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). 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 Tuesday, November 22, 2022, and so far it has fallen -16.42%. Further fall is indicated until a new bottom pivot has been found.

Meta Materials Inc. finds support from accumulated volume at $10.00 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 $1.11 between high and low, or 11.23%. For the last week, the stock has had daily average volatility of 16.33%.

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 Meta Materials Inc. stock to perform well in the short-term.