Movella Holdings Inc. Stock Forecast
Red day on Friday for Movella Holdings Inc.
(Updated on May 03, 2024)
No changes to the price of Movella Holdings Inc. stock on the last trading day (Friday, 3rd May 2024). During the last trading day the stock fluctuated 0% from a day low at $0.0200 to a day high of $0.0200. The price has risen in 5 of the last 10 days but is still down by -4.76% for this period.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is -$0.0272, a level that may pose a second chance to hit a runner. According to fan-theory $0.0742 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt. 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.
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MVLA 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 Movella Holdings Inc. 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 $0.0219 and $0.0683. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 23, 2024, and so far it has fallen -33.33%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Movella Holdings Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0175 and $0.0165. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $0.0165 may give a huge drop in the stock price.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 36.64%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MVLA) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Movella Holdings Inc. to open at $0.0200, and during the day (based on 14 day Average True Range), to move between -$0.0003 and $0.0403, which gives a possible trading interval of +/-$0.0203 (+/-101.57%) up or down from last closing price. If Movella Holdings Inc. takes out the full calculated possible swing range there will be an estimated 203.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0205 (2.50%) than the support at $0.0175 (12.75%), 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 Movella Holdings Inc. stock A Buy?
Movella Holdings Inc. 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.
Current score: -6.828 Strong Sell Candidate Unchanged
Predicted Opening Price for Movella Holdings Inc. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $0.0200 ( 0%) | $0.0200 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MVLA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0200 | . | |
| R2 | 0.0200 | . | ||
| R1 | 0.0200 | . | ||
| Current price: | 0.0200 | |||
| Support | S1 | 0.0200 | . | |
| S2 | 0.0200 | . | ||
| S3 | 0.0200 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0230 | 15.00 % | |
| R2 | 0.0210 | 5.00 % | ||
| R1 | 0.0205 | 2.50 % | ||
| Current price | 0.0200 | |||
| Support | S1 | 0.0175 | -12.75% | |
| S2 | 0.0165 | -17.50% | ||
| S3 | 0 | . |
FAQ
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