Movella Holdings Inc. Stock Forecast
Big movements in Movella Holdings Inc. stock price on Friday moving 16.67% between high and low
(Updated on May 17, 2024)
The Movella Holdings Inc. stock price gained 2.64% on the last trading day (Friday, 17th May 2024), rising from $0.0341 to $0.0350. During the last trading day the stock fluctuated 16.67% from a day low at $0.0300 to a day high of $0.0350. The price has been going up and down for this period, and there has been a 75% gain for the last 2 weeks. Volume fell on the last day by -28 thousand shares and in total, 13 thousand shares were bought and sold for approximately $443.66 . 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 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 -$0.0065, a level that may pose a second chance to hit a runner. According to fan-theory $0.157 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
The Movella Holdings 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 $0.0287 and $0.0283. 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). 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 Wednesday, May 08, 2024, and so far it has fallen -2.78%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Movella Holdings Inc. stock
Movella Holdings Inc. finds support from accumulated volume at $0.0341 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 periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0050 between high and low, or 16.67%. For the last week the stock has had daily average volatility of 98.27%.
Our recommended stop-loss: $0.0336 (-3.92%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 7 days ago.)
Trading Expectations (MVLA) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Movella Holdings Inc. to open at $0.0333, and during the day (based on 14 day Average True Range), to move between $0.0189 and $0.0511, which gives a possible trading interval of +/-$0.0161 (+/-46.10%) up or down from last closing price. If Movella Holdings Inc. takes out the full calculated possible swing range there will be an estimated 92.19% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0341 (2.57%) than the resistance at $0.0360 (2.86%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Movella Holdings Inc. stock A Buy?
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period.
Current score: 1.354 Buy Candidate Unchanged
Predicted Opening Price for Movella Holdings Inc. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.0333 ( 4.76%) | $0.0350 |
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 | 0.0383 | 9.52 % | |
| R2 | 0.0364 | 4.07 % | ||
| R1 | 0.0352 | 0.695 % | ||
| Current price: | 0.0350 | |||
| Support | S1 | 0.0314 | -10.22 % | |
| S2 | 0.0302 | -13.59 % | ||
| S3 | 0.0283 | -19.05 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0.0360 | 2.86 % | ||
| Current price | 0.0350 | |||
| Support | S1 | 0.0341 | -2.57% | |
| S2 | 0.0301 | -14.00% | ||
| S3 | 0.0300 | -14.29% |
FAQ
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