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Mullen Automotive, Inc. (NASDAQ:MULN) shares are trading higher Thursday after the company announced it has regained full compliance with all Nasdaq continued listing requirements.
The Details:
Mullen said it received formal notice from the Nasdaq on Wednesday that it has regained compliance with the annual shareholder meeting requirement. Mullen previously announced on Jan. 24 that the company had regained compliance with the minimum bid price requirement.
Last week, the company announced it began Class 1 EV cargo van road testing with the integrated solid-state polymer battery pack at Mullen’s Commercial Tech Center.
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Equity research analysts on and off Wall Street typically use earnings growth and fundamental research as a form of valuation and forecasting. But many in trading turn to technical analysis as a way to form predictive models for share price trajectory.
Some investors look to trends to help forecast where they believe a stock could trade at a certain point in the future. Looking at Mullen Automotive (NASDAQ:MULN), an investor could make an assessment about a stock's long term prospects using a moving average and trend line. If they believe a stock will remain above the moving average, which many believe is a bullish signal, they can extrapolate that trend into the future using a trend line. For Mullen Automotive, the 200-day moving average sits at $96.15, according to Benzinga Pro, which is above the current price of $6.74. For more on charts and trend lines, see a description here.
Traders believe that when a stock is above its moving average, it is a generally bullish signal, and when it crosses below, it is a more negative signal. Investors could use trend lines to make an educated guess about where a stock could trade at a later date if conditions remain stable.
MULN Price Action: According to Benzinga Pro, Mullen Automotive shares are up 6.3% at $6.75 at the time of publication.
Image: Joe from Pixabay
Posted In: MULN
