The Faraday Future Intelligent Electric Inc. $Faraday Future Intelligent Electric Inc.(FFIE)$ stock price fell by -6.58% on Wednesday, 19th Jul 2023 from $0.315 to $0.294. During the last trading day the stock fluctuated 21.57% from a day low at $0.283 to a day high of $0.344. The price has risen in 7 of the last 10 days and is up by 46.27% over the past 2 weeks. Volume has increased on the last day by 19 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, 147 million shares were bought and sold for approximately $43.07 million.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 14.40% during the next 3 months and, with a 90% probability hold a price between $0.232 and $0.538 at the end of this 3-month period.
FFIE Signals & Forecast
The Faraday Future Intelligent Electric Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.263 and $0.267. 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 Tuesday, July 18, 2023, and so far it has fallen -6.58%. 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 Faraday Future Intelligent Electric Inc. stock
Faraday Future Intelligent Electric Inc. finds support from accumulated volume at $0.281 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 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 $0.0611 between high and low, or 21.57%. For the last week, the stock has had daily average volatility of 15.55%.
Our recommended stop-loss: $0.280 (-4.60%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (FFIE) For The Upcoming Trading Day Of Thursday 20th
For the upcoming trading day on Thursday, 20th we expect Faraday Future Intelligent Electric Inc. to open at $0.307, and during the day (based on 14 day Average True Range), to move between $0.258 and $0.330, which gives a possible trading interval of +/-$0.0357 (+/-12.14%) up or down from last closing price. If Faraday Future Intelligent Electric Inc. takes out the full calculated possible swing range there will be an estimated 24.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.281 (4.49%) than the resistance at $0.309 (5.03%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Insiders are very positive buying more shares than they are selling in Faraday Future Intelligent Electric Inc.
In the last 68 trades there were 9.2 million shares bought and 2.38 million shares sold. The last trade was made 34 days ago by Chen Xuefeng who bough 1 shares. The large amount of stocks bought compared to stocks sold indicate that the insiders believe there is a potential good upside. In some cases larger purchases can be explained by due date for stock options.
Is Faraday Future Intelligent Electric Inc. stock A Buy?
Faraday Future Intelligent Electric Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
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