Mullen Automotive Stock Forecast
About Chart
Golden Star
The Golden Star is a refined bullish signal based on the Golden Cross, developed by Jim Stromberg, incorporating additional time frame-specific moving averages and precise price line crossings. This signal is effective for liquid stocks, highlighting short-term upward momentum.
Death Star
The Death Star, developed by Jim Stromberg, is the bearish counterpart to the Golden Star, serving as a sell signal. It is triggered by specific moving average crossings on the price line, indicating a likely prolonged decline in the stock.
Golden Cross
The Golden Cross is a bullish signal where the short-term moving average crosses above the long-term moving average, indicating potential upward momentum.
Death Cross
The Death Cross is a bearish signal where the short-term moving average crosses below the long-term moving average, indicating potential downward momentum.
Pivot Bottom
A Pivot Bottom is a significant low point identified by algorithms developed by StockInvest.us. While it may indicate a short-term directional change, it does not necessarily imply a complete trend reversal. Pivot Bottoms are marked as green circles on the price line.
Pivot Top
A Pivot Top represents a significant high point identified by algorithms developed by StockInvest.us. Similar to Pivot Bottoms, it may suggest a short-term directional change within the main trend, rather than a full trend reversal. Pivot Tops are marked as red circles on the price line.
RSI Oversold
RSI oversold indicates that a stock has declined significantly and may be undervalued, potentially presenting a buying opportunity. This condition is marked by a green line on the chart but should be confirmed with other indicators before taking action.
RSI Overbought
RSI overbought suggests that a stock has risen rapidly and may be due for a pullback. It is marked by a red line on the chart, signaling increased risk. This doesn’t necessarily mean it’s time to sell, but it’s important to monitor closely.
Accumulated Volume
The bars indicate how much stock has been traded on each price during the chart period.
Buy Signal (MA)
Buy signal from moving average indicating potential upward movement.
Sell Signal (MA)
Sell signal from moving average indicating potential downward movement.
Stock Analysis |
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Risk Assessment |
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Trading Strategy |
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High volatility in Mullen Automotive stock price on Tuesday which ended trading at $2.98
(Updated on Nov 12, 2024)
Buy candidate since Nov 12, 2024
The Mullen Automotive stock price gained 74.27% on the last trading day (Tuesday, 12th Nov 2024), rising from $1.71 to $2.98. During the last trading day the stock fluctuated 102.37% from a day low at $1.69 to a day high of $3.42. The price has been going up and down for this period, and there has been a 29% gain 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, 56 million more shares were traded than the day before. In total, 57 million shares were bought and sold for approximately $170.90 million.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $1.51 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 22.61% during the next 3 months and, with a 90% probability hold a price between $1.86 and $14.48 at the end of this 3-month period.
MULN Signals & Forecast
The Mullen Automotive 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 $1.93 and $2.53. A breakdown below any of these levels will issue sell signals. 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, September 17, 2024, and so far it has fallen -71.48%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Mullen Automotive stock
On the downside, the stock finds support just below today's level from accumulated volume at $2.80 and $2.75. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Mullen Automotive finds support just below today's level at $2.80. If this is broken, then the next support from accumulated volume will be at $2.75 and $2.53.
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 $1.73 between high and low, or 102.37%. For the last week, the stock has had daily average volatility of 29.46%.
Our recommended stop-loss: $2.81 (-5.82%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 40 days ago.)
Trading Expectations (MULN) For The Upcoming Trading Day Of Wednesday 13th
For the upcoming trading day on Wednesday, 13th we expect Mullen Automotive, Inc. to open at $2.70, and during the day (based on 14 day Average True Range), to move between $2.50 and $3.46, which gives a possible trading interval of +/-$0.479 (+/-16.08%) up or down from last closing price. If Mullen Automotive, Inc. takes out the full calculated possible swing range there will be an estimated 32.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3.15 (5.70%) than the support at $2.80 (6.04%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Mullen Automotive, Inc. stock A Buy?
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 Mullen Automotive stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.454 Buy Candidate Upgraded
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Predicted Fair Opening Price
Predicted fair opening price on November 13, 2024 - $2.70 ( 9.51%).Trading levels for MULN
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 4.43 | 48.55% |
R2 | 3.77 | 26.37% |
R1 | 3.36 | 12.67% |
Price | 2.98 | |
S1 | 2.04 | -31.68% |
S2 | 1.63 | -45.39% |
S3 | 0.97 | -67.56% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 3.64 | 22.15% |
R2 | 3.22 | 8.05% |
R1 | 3.15 | 5.70% |
Price | 2.98 | |
S1 | 2.80 | -6.04% |
S2 | 2.75 | -7.72% |
S3 | 2.53 | -15.10% |
FAQ
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