Mullen Automotive stock price fell more than -5.13% Friday closing at $0.148
(Updated on Dec 08, 2023)
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The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Due to the high volatility and the trend direction we are not able to give forecast range for this stock. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
MULN Signals & Forecast
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. The Mullen Automotive stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.166 and $0.216. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, September 15, 2023, and so far it has fallen -78.24%. 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.
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Support, Risk & Stop-loss for Mullen Automotive stock
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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0110 between high and low, or 7.44%. For the last week, the stock has had daily average volatility of 16.90%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MULN) For The Upcoming Trading Day Of Monday 11th
For the upcoming trading day on Monday, 11th we expect Mullen Automotive, Inc. to open at $0.152, and during the day (based on 14 day Average True Range), to move between $0.121 and $0.175, which gives a possible trading interval of +/-$0.0268 (+/-18.11%) up or down from last closing price. If Mullen Automotive, Inc. takes out the full calculated possible swing range there will be an estimated 36.22% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.164, some $0.0155 (10.47%) from the current price of $0.148, our system finds the risk reward not very attractive.
Is Mullen Automotive, Inc. stock A Buy?
Mullen Automotive holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.640 Open Broker AccountStrong Sell Candidate Downgraded
Predicted Opening Price for Mullen Automotive, Inc. of Monday, December 11, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
|Fair opening price December 11, 2023||Current price|
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Fibonacci Support & Resistance Levels
Accumulated Volume Support & Resistance Levels
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