Tag: MULN Technical Analysis

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.

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MULN Stock Call Options Destroy Number of Puts

Mullen Automotive Stock News Today
FrankNez News Today – MULN stock news and updates.

Mullen Automotive (NASDAQ:MULN) stock call options have been dominating the number of put options in the market for the month of January.

Talks of a MULN short squeeze have surfaced as analysts give Mullen Automotive stock a +7,000% price projection in the next 12-month period.

MULN shares have dropped since it peaked around $0.44 two weeks ago after the company revealed a number of risk factors that caused shares to tumble.

However, the amount of call options in the market compared to put options suggest investors remain bullish on where prices are headed.

Volume Distribution – MULN Stock Webull

On Tuesday, we’re seeing Mullen Automotive has 43.21K total call options versus only 290 put options (1:30hr prior to closing bell).

MULN Stock Webull Options Volume Distribution - Franknez.com.
MULN Stock Webull Options Volume Distribution – Franknez.com.

MULN stock call option volume went as high as 194K during the first week of January.

That same day, put options weighed in lightly at 12.7K compared to the latter.

However, shares have come down from its bull run earlier in January.

Shareholders suspect naked shorts are at work, keeping shares from rising despite the heavy demand.

MULN has a current short interest of 13.15% (updated daily).

This means the company is shorted despite majority of sentiment being bullish.

Heavy buying pressure will be the trigger MULN stock needs to create a disruption in the market.

Where is MULN Stock Going?

If MULN is able to break above $0.294 then shareholders can expect the stock to retest $0.30-0.31 per shares.

A break below $0.294 will send shares down to retest $0.28 and may go as low as $0.26.

Where is MULN stock headed? Franknez.com.
Where is MULN stock headed? Franknez.com.

If retail investors are able to build momentum through buying pressure, MULN shares will continue to rise.

Positive news may also trigger big buying pressure from institutional investors long on the company.

Today, out of 173 financial institutions investing in Mullen Automotive, only 1 is short with 172 being long, per Fintel.

In December alone, 18 financial institutions purchased shares of Mullen Automotive.

The consensus for Mullen Automotive today remains a strong ‘buy’.

Related: MULN Stock Price Is Predicted to Soar +7,000% This Year

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Why is MULN Stock Going Down?

Stock Market News: Why is MULN stock going down?
Stock Market News: Why is MULN stock dropping?

MULN stock came down -8.59% last Friday after a bullish start to the new year and continued to drop after hours another -16.11%.

On Wednesday, the stock came down more than -6%.

Share prices went up to $0.47 from $0.28 in the past two weeks.

Volume surged as investors began to buy the stock based on expert predictions for the year.

MULN stock closed at $0.35 on Friday with around 167.7 million in trading volume, nearly the same volume as on Wednesday.

Total call options continue to dominate total put options volume.

So, why is MULN stock going dropping?

Let’s discuss it below.

MULN Call vs Put Options

The market sentiment for MULN stock continues to stay bullish despite the current share price levels we’re seeing today.

There was a total of 33.23K call options and 2.14K put options for MULN.

MULN Call Options
Mullen Automotive stock Webull – Franknez.com.

Webull’s options volume distribution shows us more investors are betting on MULN stock to go up.

The overwhelming number of calls we’re seeing in the market compared to puts is a trend that’s been ongoing for weeks now.

Despite shares falling going into the weekend, we can see the market sentiment for Mullen Automotive is quite bullish based on the options volume.

Last Friday, call options volume went as high as 194K.

That same day, put options weighed in lightly at 12.7K compared to the latter.

Also read: Will MULN Shares Keep Surging?

As more liquidity enters the market, I expect the number of call and buy orders in MULN stock will increase.

Mullen Automotive had a market capitalization of $437.7 million at the end of December 2022 and increased to $524.9 million in only the second trading day of the new year.

Today, MULN’s market cap is sitting at $467 million but reached nearly $700 million earlier last week.

MULN Stock Selloff Contributes to This Week’s Tumble

MULN stock had a selloff this Friday after it peaked last Friday around $0.47 per share.

However, $0.35 seems to be a strong level of support for Mullen Automotive.

Below that level is $0.28, where the stock is currently trading.

why is muln stock going down?
MULN stock price today. Why is MULN stock falling?

A big selloff has the potential to break consolidation causing shares to slide greatly.

On the contrary, big buying pressure will send shares to retest $0.47.

If the price is able to break above $0.50, shareholders can expect to see further bullish momentum.

Technical analysis shows us rejection at $0.47-$0.50 could send MULN stock to retest $0.30 or lower.

Which is exactly what happened on Friday’s trading day and on Wednesday of this week.

Friday saw significantly less volume than it did its previous week, so we know big volume is contributing to the rise of the price.

Two weeks ago, we saw 522 million in trading volume while last Friday we only saw 167 million in trading volume.

MULN has an average trading volume of 230 million.

The conservative buying volume in the past few days may have also contributed to the tumble.

MULN Stock 10-K and Reverse Stock Split News

Mullen submitted its Form 10-K on Friday the 13th, revealing a number of risk factors.

For the full year ended Sept. 30, 2022, Mullen — which posted no revenue — spent $21.65 million on research and development and $75.3 million on general and administrative expenses, totaling a loss from operations of just under $97 million. This compares unfavorably to the year-ago loss of $22.4 million.

Further down the statement, the net loss for the most recent fiscal year came out to $740.3 million. Again, this tally contrasted unfavorably with the year-ago’s net loss of $44.2 million.

As Mullen’s own Form 10-K stated, it must raise cash, likely through additional debt or equity financings. Fundamentally, the core concern for stakeholders is dilution, posing major worries for MULN stock. 

A MULN reverse stock split is also on the table, which has contributed to the selloff we’re currently seeing today.

Shareholders will get to vote on passing this or not, but I’m curious to know your thoughts on this news below.

Related: What a Reverse Stock Split Usually Signifies About a Company

Will MULN Shares Go Up Again?

will MULN stock go up
Why is MULN stock falling? Will Mullen Automotive stock go up?

MULN stock will need more liquidity for share prices to continue rising.

Shareholders will need to keep an eye on the company’s market capitalization.

Mullen Automotive’s market cap should be steadily increasing for share prices to increase.

A decline in market cap suggests big institutions or insiders may be selling, a sign that more often times than not suggests shareholders do the same.

Mullen Automotive had other great news in its industry towards the end of 2022.

So, the company as an entirety still has potential for a promising future.

They’ll just have to deliver as a company.

But it will be investors who provide the company with liquidity that will ultimately drive share prices up.

Related: MULN Stock Price is Predicted to Soar +7,000% This Year

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Will MULN Shares Keep Surging?

Will MULN stock go up?
Stock Market News: Will MULN stock go up?

MULN shares rose +24.59% on Thursday to close at $0.41 (1/5).

The stock had closed at $0.33 its previous trading day.

Trading volume in Mullen Automotive also surged on Thursday, reaching 522 million, over 300 million more volume that its average daily volume.

The sentiment in MULN remains highly bullish as more retail investors discover the case study behind analyst predictions of a possible +7,000% move this year.

The company’s diverse and effective scalable energy solutions are making entry for exponential growth in 2023.

Will MULN shares keep rising?

Let’s take a look at the information that the market is presenting to us today.

If you’re new to the blog, welcome.

I publish market news and updates for the retail community so that they may navigate the stock market with ease.

If you find this article helpful or valuable in any way, shape, or form, be sure to share it with your community.

Here’s the latest MULN stock news.

MULN Call Options Dwarf Sellers

Right off the bat we’re seeing investors are radiating strong bullish sentiment towards MULN stock.

On Thursday, there were a total of 194.01K call options versus 12.77k put options.

MULN Stock: Calls VS Puts - Franknez.com.
MULN Stock: Calls VS Puts – Franknez.com.

On Wednesday, call options dominated puts at 59.6k (calls) vs 1.85k (puts).

We saw an increase in call options by 135.4k and an increase of put options by 11k overnight.

We’re looking at market sentiment for MULN stock as 94% bullish and 6% bearish.

Short-term, it’s very possible we see MULN stock squeeze as the market cap multiplies.

Mullen Automotive had a market capitalization of $437.7 million at the end of December 2022 but has increased to $524.9 million in only the second trading day of the new year.

Today, the company’s market capitalization is nearing $700 million.

Will MULN stock keep going up?

Based on investor sentiment and buy volume, one would expect it to.

But let’s take a look at some technical analysis to determine a few possibilities.

Technical Analysis

MULN stock is testing its closing price after hours of $0.4180.

It’s begun to consolidate in a channel between $0.40 and $0.41 but we can it begin to trend upwards mid-channel.

MULN Technical Analysis - Franknez.com.
MULN Technical Analysis & stock price forecast – Franknez.com.

If price is able to break above $0.4180 then retail investors can expect another leg up to retest $0.44-$0.47.

A break above $0.47 and MULN will be retracing its steps first to $0.60-$0.70 and eventually to its first $1.

It’s during these levels where we can expect some type of serious FOMO and heavier buying to kick in.

As of today, several financial institutions are bullish on Mullen Automotive.

Out of 173 financial institutions investing in Mullen Automotive, only 1 is short with 172 being long, per Fintel.

Two of Mullen Automotive’s biggest investors being Vanguard and BlackRock.

All bullish signs of a stock that’s getting ready to scale up.

Now, say the stock moves down.

Our TA shows MULN may retest $0.40 with a strong probability of bouncing back to +$0.41.

However, in the scenario that it breaks below $0.40, we can expect the stock to retest $0.37-$0.38.

MULN Stock: Long-Term Outlook

Many of you reading this already know the analyst consensus for MULN stock is a ‘strong buy’.

Experts are predicting MULN shares to go up as much as +7,000% to $23 per share by the end of the year.

This is quite an ambitious approach.

MULN stock price forecast.
MULN stock price forecast.

In 2021, GameStop shares rose by more than +1,500% and AMC Entertainment rose by more than +3,000%!

In 2022, shares of AMTD Digital, Inc. (HKD) stock surged more than +20,000% since its IPO date just a month prior.

A +7,000% gain rise in MULN shares is certainly not unprecedented.

Some shareholders argue the rise to $23 could be the beginning for Mullen Automotive.

But I’m curious to hear what you think.

Leave a comment down below.

You can read more MULN information here.

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