MULN: Price Surges from .10 to .17 - Key Insights for traders
Updated
MULN, a prominent stock in the market, has experienced a significant surge in its price today. Starting at 10 cents, the stock quickly climbed to 17 cents during regular trading hours and continued its upward momentum, reaching 19 cents after hours. This dramatic price movement has caught the attention of traders and investors. Let's explore the factors behind this surge, utilizing information from various sources, including Mullen's official website, to provide valuable insights for traders.
1. Positive News Catalysts:
Mullen Automotive, the company behind MULN, recently made an announcement regarding the sale of 22 electric vehicle (EV) cargo vans to Randy Marion Automotive Group. According to Mullen's official website, this sale will generate sales revenue to be recognized in the upcoming 10-Q report. Such positive developments contribute to the growing confidence in MULN's business operations and revenue potential. Traders should consider the impact of these sales on the company's financial performance and investor sentiment.
2. New Vehicle Sales and Market Expansion:
The sale of EV cargo vans to Randy Marion Automotive Group signifies MULN's success in expanding its market presence. By securing deals with notable customers, MULN demonstrates the growing demand for its EV offerings. Traders should monitor Mullen's official website and other reliable sources for further updates on new vehicle sales, strategic partnerships, and expansion plans, as these factors can significantly impact the stock's performance.
3. Price Analysis and Support/Resistance Levels:
- Support Levels:
1. Immediate Support: Around 16 cents, the stock has displayed buying interest, bouncing off this level. Traders should closely monitor this level as a potential support zone.
2. Stronger Support: Near 14 cents, we can observe a significant level of support where the stock has historically found considerable buying pressure. This level could act as a stronger support area if the stock experiences a deeper pullback.
- Resistance Levels:
1. Immediate Resistance: The chart indicates resistance near 18 cents, where the stock encountered selling pressure in recent price movements. Traders should closely watch this level as a potential barrier for further upward movement.
2. Stronger Resistance: Around 20 cents, we can observe a significant resistance level. The stock has faced challenges breaking through this level in the past. A sustained move above 20 cents could signal increased bullish momentum.
- Moving Averages:
1. The 50-period Moving Average (MA): Currently, the price appears to be above the 50-period MA, suggesting a potential short-term bullish bias. Traders can monitor the relationship between the price and this moving average for potential shifts in sentiment.
2. The 200-period Moving Average (MA): The price's position relative to the 200-period MA can provide insights into the stock's long-term trend. Traders should monitor whether the price remains above this moving average for indications of a positive long-term outlook.
Conclusion:
MULN's price surge from 10 cents to 19 cents today has sparked significant interest among traders. By analyzing information from various sources, including Mullen's official website, positive news catalysts such as new vehicle sales and market expansion, and technical analysis, traders can gain valuable insights into MULN's potential. Conducting thorough research, staying updated with news articles, and referencing Mullen's official website will empower traders to make well-informed decisions aligned with their investment goals.
News:
1. Mullen Announces the Sale of 22 EV Cargo Vans to Randy Marion Automotive Group; Sales Revenue to Be Recognized in Upcoming 10-Q
news.mullenusa.com/mullen-announces-the-sale-of-22-ev-cargo-vans-to-randy-marion-automotive-group-sales-revenue-to-be-recognized-in-upcoming-10-q
2. Mullen Automotive Inc.’s latest rating changes from various analysts
knoxdaily.com/2023/07/05/mullen-automotive-inc-s-latest-rating-changes-from-various-analysts/
3. Mullen Automotive’s stock rockets on record volume after EV maker vows to ‘take action’ against naked short sellers
marketwatch.com/story/mullen-automotives-stock-bounces-off-record-low-after-retaining-law-firm-to-take-action-against-naked-short-sellers-44914f9c
1. Positive News Catalysts:
Mullen Automotive, the company behind MULN, recently made an announcement regarding the sale of 22 electric vehicle (EV) cargo vans to Randy Marion Automotive Group. According to Mullen's official website, this sale will generate sales revenue to be recognized in the upcoming 10-Q report. Such positive developments contribute to the growing confidence in MULN's business operations and revenue potential. Traders should consider the impact of these sales on the company's financial performance and investor sentiment.
2. New Vehicle Sales and Market Expansion:
The sale of EV cargo vans to Randy Marion Automotive Group signifies MULN's success in expanding its market presence. By securing deals with notable customers, MULN demonstrates the growing demand for its EV offerings. Traders should monitor Mullen's official website and other reliable sources for further updates on new vehicle sales, strategic partnerships, and expansion plans, as these factors can significantly impact the stock's performance.
3. Price Analysis and Support/Resistance Levels:
- Support Levels:
1. Immediate Support: Around 16 cents, the stock has displayed buying interest, bouncing off this level. Traders should closely monitor this level as a potential support zone.
2. Stronger Support: Near 14 cents, we can observe a significant level of support where the stock has historically found considerable buying pressure. This level could act as a stronger support area if the stock experiences a deeper pullback.
- Resistance Levels:
1. Immediate Resistance: The chart indicates resistance near 18 cents, where the stock encountered selling pressure in recent price movements. Traders should closely watch this level as a potential barrier for further upward movement.
2. Stronger Resistance: Around 20 cents, we can observe a significant resistance level. The stock has faced challenges breaking through this level in the past. A sustained move above 20 cents could signal increased bullish momentum.
- Moving Averages:
1. The 50-period Moving Average (MA): Currently, the price appears to be above the 50-period MA, suggesting a potential short-term bullish bias. Traders can monitor the relationship between the price and this moving average for potential shifts in sentiment.
2. The 200-period Moving Average (MA): The price's position relative to the 200-period MA can provide insights into the stock's long-term trend. Traders should monitor whether the price remains above this moving average for indications of a positive long-term outlook.
Conclusion:
MULN's price surge from 10 cents to 19 cents today has sparked significant interest among traders. By analyzing information from various sources, including Mullen's official website, positive news catalysts such as new vehicle sales and market expansion, and technical analysis, traders can gain valuable insights into MULN's potential. Conducting thorough research, staying updated with news articles, and referencing Mullen's official website will empower traders to make well-informed decisions aligned with their investment goals.
News:
1. Mullen Announces the Sale of 22 EV Cargo Vans to Randy Marion Automotive Group; Sales Revenue to Be Recognized in Upcoming 10-Q
news.mullenusa.com/mullen-announces-the-sale-of-22-ev-cargo-vans-to-randy-marion-automotive-group-sales-revenue-to-be-recognized-in-upcoming-10-q
2. Mullen Automotive Inc.’s latest rating changes from various analysts
knoxdaily.com/2023/07/05/mullen-automotive-inc-s-latest-rating-changes-from-various-analysts/
3. Mullen Automotive’s stock rockets on record volume after EV maker vows to ‘take action’ against naked short sellers
marketwatch.com/story/mullen-automotives-stock-bounces-off-record-low-after-retaining-law-firm-to-take-action-against-naked-short-sellers-44914f9c
Note
Don’t Ignore the Warning Light: Why Owning Mullen Stock Is a Non-Starter in 2023:tradingview.com/news/investorplace:e02f03de7094b:0-don-t-ignore-the-warning-light-why-owning-mullen-stock-is-a-non-starter-in-2023/?mobileapp_new=true
Note
Much of the news on MULN is saying to stay away. However, I really like where price is sitting right now. We'll see if it holds up.Why a Naked Short Selling Investigation Won’t Save Mullen (MULN) Stock:
tradingview.com/news/investorplace:84a3f165f094b:0-why-a-naked-short-selling-investigation-won-t-save-mullen-muln-stock/
Trade closed manually
No rise with CPI results today.Note
MULN back in range after market close? Possible.Note
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