Movella Holdings Inc. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
High volatility in Movella Holdings Inc. stock price on Friday which ended trading at $0.0400
(Updated on May 24, 2024)
The Movella Holdings Inc. stock price gained 90.48% on the last trading day (Friday, 24th May 2024), rising from $0.0210 to $0.0400. During the last trading day the stock fluctuated 100.00% from a day low at $0.0200 to a day high of $0.0400. The price has fallen in 5 of the last 10 days but is still up by 33.33% 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, 59 thousand more shares were traded than the day before. In total, 67 thousand shares were bought and sold for approximately $2.67 thousand.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $0.0775 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. 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 $0.0290 and $0.0246. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 09, 2024, and so far it has risen 39,900.00%. Further rise is indicated until a new top pivot has been found. Movella Holdings Inc. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
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 $0.0360 and $0.0341. 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, Movella Holdings Inc. finds support just below today's level at $0.0360. If this is broken, then the next support from accumulated volume will be at $0.0341 and $0.0301.
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 $0.0200 between high and low, or 100.00%. For the last week, the stock has had daily average volatility of 30.68%.
Our recommended stop-loss: $0.0385 (-3.86%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 61 days ago.)
Trading Expectations (MVLA) For The Upcoming Trading Day Of Tuesday 28th
For the upcoming trading day on Tuesday, 28th we expect Movella Holdings Inc. to open at $0.0333, and during the day (based on 14 day Average True Range), to move between $0.0259 and $0.0541, which gives a possible trading interval of +/-$0.0141 (+/-35.20%) up or down from last closing price. If Movella Holdings Inc. takes out the full calculated possible swing range there will be an estimated 70.39% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $0.0360, some $0.0040 (10.00%) from the current price of $0.0400, our system finds the risk reward attractive.
Is Movella Holdings Inc. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Buy candidate.
Current score: 4.787 Buy Candidate Upgraded
Predicted Opening Price for Movella Holdings Inc. of Tuesday, May 28, 2024
| Fair opening price May 28, 2024 | Current price |
|---|---|
| $0.0333 ( 16.67%) | $0.0400 |
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 | 0.0533 | 33.33 % | |
| R2 | 0.0457 | 14.23 % | ||
| R1 | 0.0410 | 2.43 % | ||
| Current price: | 0.0400 | |||
| Support | S1 | 0.0257 | -35.77 % | |
| S2 | 0.0210 | -47.57 % | ||
| S3 | 0.0133 | -66.67 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 0.0400 | |||
| Support | S1 | 0.0360 | -10.00% | |
| S2 | 0.0341 | -14.75% | ||
| S3 | 0.0301 | -24.75% |
FAQ
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