Tag: MULN Technical Analysis (Page 1 of 2)

Will MULN Shares Continue to Surge Next Week?

Will muln shares go up this week
Market News Today: Will MULN shares surge this week?

Will Mullen Automotive (NASDAQ:MULN) shares go up this week?

The company stock rose +7% on Friday after gaining +24% that trading week.

There’s a strong bullish sentiment surrounding MULN stock that is attracting new retail investors at just the right time.

Mullen Automotive recently received a $200 million purchase order for 6,000 cargo van EVs in December.

The news carries weight going into the first quarter of 2023 after the company’s partnership with industry leader, Randy Marion Automotive Group.

Momentum in the past month has compounded as more investors begin to discover price targets from experts and analysts.

Mullen Automotive’s stock price forecast targets a high of $24.15, mid of $23.46, and low of $23.23.

“Mullen Automotive is set up for a short squeeze that may not begin if the company cannot issue some favorable news in the next few weeks,” said MarketBeat analysts in January.

Could MULN stock be the next GME, AMC, or even HKD?

These stocks surged 1,500%, 3,000%, and 20,000%.

MULN Bullish Trend

In the past month, MULN stock has had one particularly strong bullish trend; its call options vs put options ratio.

This market sentiment is what makes Mullen Automotive stock stand out from many others in the market.

It has an extremely high bullish conviction.

On Friday alone, we can see the stock had a total of 131.62K call options and 11.22K put options.

MULN Stock Call Options Webull - Mullen Automotive stock news today.
Will MULN shares surge this week? – Mullen Automotive stock news today.

That’s nearly 12 times more call options than put options.

And this is a trend we’ve seen all throughout the new year so far.

Both retail investors and institutional investors are majority long on the company.

But Mullen Automotive will need to continue to prove itself to institutional buyers for heavier buying pressure to push the stock past $0.44, a strong resistance level.

MULN stock tested $0.44 in January and again during the first week of February.

Shares rejected $0.44 coming back down to $0.39 before bouncing back to $0.40 on Friday.

This means that even as shares fall, buyers are picking up the dips.

A break past $0.44 could create the chain reaction the stock needs to make its way to $0.60 and to $1.

Will MULN Stock Go Up This Week?

will muln stock go up this week?

MULN stock has proven to be extremely bullish this year-to-date.

If shares are able to maintain above $0.42 this week, it’s highly probable that the stock will continue to rise.

In a war between bears and bulls, bulls are in the lead, but they’ll need to maintain that buying pressure if they are to see $1 per share before Nasdaq’s deadline in March.

Are you holding Mullen Automotive stock this year?

Are you a long-term shareholder?

Leave your thoughts in the comment section below.

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FrankNez News Today - Will MULN stock go up this week?
FrankNez News Today – Will MULN stock go up this week?

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Mullen Automotive Stock Reclaims $700 Million Market Cap

Mullen Stock Market Cap
Market News: Mullen stock market cap rises.

Mullen Automotive (NASDAQ:MULN) stock has reclaimed $700 million in market cap.

Shares rose to more than $0.44 on Friday from a weekly low of $0.32 earlier that week.

Volume also surged past Mullen Automotive’s average trading volume of 218 million to more than 250 million on Friday, a trend we’ve seen this year.

The last time Mullen Automotive’s market cap hit $700 million was during the first week of January before ultimately coming down to around $500 million when shares retested $0.28 levels.

MUNL stock’s market cap is currently sitting at $706 million.

Recent positive news has triggered share prices this year to rise.

The EV company recently received a $200 million purchase order from Randy Marion Automotive Group for 6,000 EV cargo vans.

Mullen Automotive said it has until March 6 to meet the Nasdaq minimum bid requirement of $1.

If shares haven’t reached $1 by then, the company said in a statement that it intends to seek an extension from Nasdaq to meet the $1-per-share threshold.

This pressure could trigger shareholders to inject the company with enough liquidity to raise share prices before the deadline.

It also provides the company with a timeline to develop positive news and instill institutional confidence moving forward.

Will MULN shares keep rising?

Technical analysis shows us a break above $0.4180 will send shares up to retest $0.43 and $0.44 per share.

A push above $0.44 has the potential to send prices all the way up to $0.55 and eventually $0.60.

MULN Stock Technical Analysis - Franknez.com.
MULN Stock Technical Analysis – Franknez.com.

Continued momentum will send shares to retest $1 per share.

If MULN stock fails to break above $0.4180, the stock may come down to retest $0.40 flat.

Here, buying pressure will send share bouncing back up.

If buyers don’t step in, shares may slide to $0.38.

They key to a $1 billion Mullen market cap heavily correlates to how much buying pressure investors will be able to maintain.

Either institutions begin to buy in heavily again, or we see a combination of institutional buyers, current shareholders, and new shareholders stepping in.

But I’m curious to hear your thoughts on this.

What upcoming developments are you looking forward to?

Leave your thoughts in the comment section below.

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Market News Today - MULN stock market cap rises.
Market News Today – Mullen stock market cap rises | MULN market cap rises.

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Mullen Receives $200 Million Purchase Order for 6,000 EV’s

Mullen receives $200 million purchase order for 6,000 ev's.
Market News: Mullen Automotive news today.

Mullen Automotive (NASDAQ:MULN) received a $200 million purchase order for 6,000 of its EV cargo vans.

Randy Marion Automotive Group has taken on a fleet of Mullen EV’s to kick off the first quarter of the new year just right.

RMA is one of the largest and most respected commercial vehicle dealer groups in the U.S. Randy Marion Isuzu, LLC, a division of RMA, has committed to the purchase of 6,000 Class 1 EV cargo vans from Mullen Automotive.

Mullen recently announced RMA as its first commercial dealer partner to offer sales, service and parts for Mullen Automotive’s commercial vehicle lineup.

“We see a tremendous opportunity with the Mullen commercial portfolio, and the launch of the commercial van could not come at a better time,” said Randy Marion, CEO and founder of RMA. “There’s significant pent-up customer demand for Mullen to fulfill. I have many customers looking at me to find product for their companies.”

“This is a real vote of confidence in our company. We appreciate Randy’s vision and aggressiveness to partner with us,” said John Schwegman, chief commercial officer for Mullen Automotive. “He clearly sees the future in commercial EVs.”

“The Randy Marion Automotive team is fully aligned with our Class 1 EV plan and is well positioned to help us capitalize on our first mover advantage in the commercial EV segments,” said David Michery, chairman and CEO of Mullen Automotive.

Analysts give MULN stock a +7,000% forecast

In a recent case study, we see that analysts are predicting MULN stock to surge more than +7,000% by the end of the year.

Experts are predicting MULN’s share price to rise to approximately $23 per share from its main support level of $0.32 per share, currently trading above $0.40.

Mullen Automotive received a $200 million purchase order for 6,000 of its cargo EV vans from Randy Marion Automotive Group. News and Updates.
MULN stock forecast – Mullen stock news | Mullen Automotive News.

The forecast is ambitious without a doubt, but the company shows great signs of scalable growth both in the near- and long-term future.

Mullen Automotive recently partnered with Loop Global to deploy EV charging solutions, including a public DC fast charging network and residential offerings.

The company is also preparing for 3 commercial product launches in 2023 after signing with their first U.S dealer partner, RMA Group.

In early December, the company also announced Former General Motors Government Sales Leader Ronald Dixon will be leading Mullen’s EV charge for U.S government fleet sales.

How soon will MULN shares reach $1?

The last time Mullen Automotive shares traded at $1 was in July of 2022.

The company said it has until March 6 to meet the Nasdaq minimum bid requirement of $1.

If shares haven’t reached $1 by then, the company said in a statement that it intends to seek an extension from Nasdaq to meet the $1-per-share threshold.

This means that if the company wants to keep its company listed in the market, it will do everything in its power to meet that $1-per-share threshold.

However, Mullen Automotive may also request an extension if it does not meet the $1 requirement by March 6th.

“If the company still falls short of the minimum bid requirement, it will effect a reverse stock split at that time to maintain its Nasdaq listing compliance.”

For shareholders, a reverse stock split would decrease the number of shares they own but increase the share price without changing the overall value of their holdings.

MULN stock will need to break above $0.44 to begin retesting $0.60 and eventually $1.

Mullen Automotive 2024

Mullen Automotive, which went public in November 2021, also has a manufacturing facility in Tunica County, Mississippi.

Mullen said delivery of its Mullen Five, its first electric crossover, is set for 2024 and will utilize facial recognition technology.

That vehicle, Mullen said, will have a range of 325 miles, will travel up to 155 miles per hour, and will accelerate from zero to 60 miles per hour in 3.2 seconds.

Does Tesla have an emerging competitor?

This sounds exciting, but I’m curious to know your thoughts.

Leave your thoughts in the comment section down below.

Related: Expert Says a MULN Short Squeeze is Highly Probable

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FrankNez News Today: Mullen Stock News Today – Mullen receives $200 million purchase order for 6,000 EV’s.

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Big Volume Raises MULN Share Prices by More Than +18%

Stock Market News Today: MULN share prices rise as volume surges.
Stock Market News Today: MULN share prices rise as volume surges.

Mullen Automotive (NASDAQ:MULN) share prices rose more than 18% on Wednesday after big volume carried the stock up to nearly $0.36 from its open of $0.2894.

MULN stock retested $0.35 after hours after closing the trading day at $0.3485.

Volume surged to 382 million, up 165 million from its average intraday volume of 216 million.

Technical analysis earlier this week showed us a push towards the upside would get triggered after breaking above $0.294 and $0.31.

Investors were able to build momentum causing MULN shares to rise on Wednesday.

MULN share prices have steadily traded in the $0.32 range since the beginning of the year.

The automotive stock jumped to $0.44 before retesting its major bottom level.

Will MULN shares keep rising?

117K Call Options vs 1.9K Put Options

A pattern we’ve been seeing with Mullen Automotive stock all of January is much larger call options than put options in the market.

Big volume pushed MULN share prices up on Wednesday with several call options making gains.

Webull’s volume distribution shows us MULN had 117K call options and 1.9k put options on Wednesday.

MULN Stock Webull - Franknez.com.
MULN Stock Webull – Franknez.com.

Call options in MULN have overwhelmed the minority of investors betting against the company stock.

As more and more retail investors come to discover Mullen Automotive, we can expect to see MULN share prices rise.

The company stock continues to be a ‘buy’ from analysts predicting shares to soar more than +7,000% this year.

MULN stock is predicted to reach a high of $24.15 in 2023.

Getting MULN shares to $1 will be the first big milestone for the company stock.

And while experts say continuation of 2022’s bear market can be expected this year, the market has shown us that investors have the power to move the markets as a whole, despite market conditions.

Read More MULN Stock News Here

Are you holding Mullen Automotive stock?

Leave your thoughts below on what you think will happen with MULN stock this year.

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FrankNez News - MULN Stock News, Business News, + more.
FrankNez News – MULN Stock News, Business News, + more.

For more stock market, business news and updates, join the newsletter to receive weekly market news and notifications straight to your inbox.

Franknez.com is the media blog that keeps retail investors informed.

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