Mullen Automotive: You have to digest that first!

Negative RSI signal for Mullen Automotive

A prominent signal of technical analysis, the Relative Strength Index, RSI, relates the upward and downward movements of prices in a period of – exemplary – 7 days to each other. At a value between 0 and 30, a value is considered to be “oversold”, at 70 to 100 it is considered to be “overbought” and in between it is considered to be neutral. The RSI of Mullen Automotive leads at a level of 100 to the classification “Sell”. The RSI25, based on a 25-day period, at 61.19 is indicative of a “Hold” rating at this level. This puts the overall assessment at “Sell”.

Technical Analysts Pessimistic

At $0.2, Mullen Automotive is now -41.18 percent away from its 50-day moving average, the GD50. This leads to a short-term assessment of “Sell.” On the basis of the past 200 days, however, the rating is “Sell”, as the distance to the GD200 amounts to -80.77 percent. In this respect, we rate the stock as “Sell” overall from a chart perspective for the two periods.

What is investor sentiment?

Share prices can be assessed by soft factors such as sentiment, in addition to hard factors such as balance sheet data. Our analysts looked at Mullen Automotive on social platforms and measured that the comments or findings have been overwhelmingly positive. In addition, social media users around Mullen Automotive have been mostly positive over the past day or two. Thus, the stock receives a “Buy” rating for this observation. Thus, the editorial team comes to the conclusion that Mullen Automotive must be classified as “Buy” with regard to sentiment.