How Soon Will MULN Stock Go Back Up Again?

will MULN stock go up
Market News Today: Will MULN stock go up?

Mullen Automotive (NASDAQ:MULN) stock has plunged all throughout February after it had risen and then consolidated during the month of January.

The automotive stock started the year around $0.32 per share and rose above $0.44 before retesting it three times and coming back down.

Analyst predictions have triggered heavy buying pressure from retail investors.

Despite massive waves of retail coming in, shareholders suspect naked shorting in MULN is to blame for the declining share price.

Shares rose from $0.21 to $0.24 on Tuesday, up more than 7% intraday.

Still, volume has proven many times over to move share prices back up.

In late January, MULN stock surged more than 18% when volume surged to 382 million, up 165 million from its average during that month.

Will MULN stock go back up soon?

Let’s discuss what’s happening.

Latest MULN Stock News 2023

Will Mullen Automotive shares go up?

Despite Mullen Automotive’s share price plunging in the past month, the company has gone through a series of very positive news.

The latest MULN stock news this year are bullish enough to send shares up to space.

Buyers are there, which is why shareholders are suspecting Mullen Automotive has become a target to naked short selling.

A predatorial practice in the market used to short the stock without any real shares.

Will MULN Stock Go Up Soon?

Mullen Automotive stock has formed a bull flag intraday — an indication that the stock is ready to make moves upwards.

Will MULN stock go up?
W

We can see that bullish sentiment pushed the stock upwards from its previous close and has begun to consolidate.

Big buying pressure may result in higher moves for Mullen Automotive stock in the short term.

However, if short sellers are able to flood the market with more sell orders than buy orders, expect a fake-out and for shares to retest lower.

In terms of the macro picture, technical analysis shows us MULN stock is in a downtrend channel but has broken the channel today in an upwards attempt to reverse.

If retail investors are unable to build strong enough buying momentum to send shares up, we can expect Mullen shares to continue its macro downtrend.

A falling wedge tends to eventually break upwards (patterns based on historic sentiment), so it’s very possible we see a bounce back up and a new trend begin to form, too.

It’s important to know that both the options volume and institutional/retail sentiment remain bullish.

But I’m curious to know your thoughts on where Mullen Automotive is headed.

Leave your thoughts in the comment section down below.

Market News Published Daily πŸ“°

Market News Today – JPMorgan to Pay $290 Billion in New Epstein Case.

Don’t forget to opt-in for push notifications so you don’t miss a single article!

Also, thank you to all of our blog sponsors. This year we’ve been able to increase push notifications slots making it more convenient than ever for new readers to receive their daily market news and updates.

You can also follow me on TwitterInstagramFacebook, or LinkedIn for daily news and updates on your favorite stories.


Become a Sponsor for only $1/mo.

  • Gain access to EXCLUSIVE FrankNez articles you won’t find here.
  • Become part of a private and safe Discord community, just for retail investors.
  • Get drawn at the end of the year for holiday giveaways.


4 Comments

  1. Nora

    Enjoy your posts and your knowledge, would you check out hyzn and see if they have the same problem

  2. Frank Nez

    Leave your thoughts on where MULN stock is headed.

    • JD Cates

      Not confident in the long term, the big automakers are going to dominate and only a few of these small players will survive. Short term I see it eventually close to $1 I’ll sell before then unless something changes my mind.

      • Frank Nez

        Thanks for your input.

© 2023 Franknez.com

Theme by Anders NorenUp ↑