Microvast Holdings, Inc. Stock Forecast
High volatility in Microvast Holdings, Inc. stock price on Tuesday which ended trading at $0.365
(Updated on Jul 02, 2024)
The Microvast Holdings, Inc. stock price fell by -7.93% on the last day (Tuesday, 2nd Jul 2024) from $0.396 to $0.365. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 15.56% from a day low at $0.360 to a day high of $0.416. The price has fallen in 6 of the last 10 days and is down by -21% for this period. Volume has increased on the last day by 1 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 5 million shares were bought and sold for approximately $1.88 million.
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. Given the current short-term trend, the stock is expected to fall -13.71% during the next 3 months and, with a 90% probability hold a price between $0.249 and $0.459 at the end of this 3-month period.
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MVST 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 Microvast Holdings, Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $0.458 and $0.414. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, June 27, 2024, and so far it has fallen -31.98%. 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.
Support, Risk & Stop-loss for Microvast Holdings, Inc. stock
Microvast Holdings, Inc. finds support from accumulated volume at $0.350 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 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 $0.0560 between high and low, or 15.56%. For the last week, the stock has had daily average volatility of 20.92%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MVST) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Microvast Holdings, Inc. to open at $0.380, and during the day (based on 14 day Average True Range), to move between $0.307 and $0.422, which gives a possible trading interval of +/-$0.0573 (+/-15.73%) up or down from last closing price. If Microvast Holdings, Inc. takes out the full calculated possible swing range there will be an estimated 31.45% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.350 (4.00%) than the resistance at $0.388 (6.47%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Microvast Holdings, Inc. stock A Buy?
Microvast 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. 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: -5.780 Strong Sell Candidate Downgraded
Predicted Opening Price for Microvast Holdings, Inc. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $0.380 ( 4.28%) | $0.365 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MVST
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.436 | 19.64% |
| R2 | 0.415 | 13.77% |
| R1 | 0.402 | 10.15% |
| Price | 0.365 | |
| S1 | 0.359 | -1.59% |
| S2 | 0.346 | -5.21% |
| S3 | 0.324 | -11.08% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.426 | 16.90% |
| R2 | 0.390 | 6.99% |
| R1 | 0.388 | 6.47% |
| Price | 0.365 | |
| S1 | 0.350 | -4.00% |
| S2 | 0.330 | -9.54% |
| S3 | 0.320 | -12.15% |
FAQ
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