1
Mullen stock price (NASDAQ: MULN) faced rejection near to $1.00.
2
Short covering rally in MULN stock has ended.
3
Mullen Automotive stock might test the previous low again.
Mullen Automotive Inc. MULN stock price fell by 51% in August and shows no signs of recovery till now. Mullen stock is in a strong downtrend and sellers are continuing the dominance.
Mullen stock price pattern is highly bearish and looks like many genuine investors have taken exit on higher levels. The short sellers in the $MULN are active, due to this any short-term pullback might get sold off.
MULN stock is trading far away from the 50-day EMA so the risk of short squeeze also remains high.
Previously, on August 23, 2023, Mullen Automotive stock witnessed a wild short squeeze and prices closed with a gain of 68%.
However, the momentum was temporary so the prices failed to give the follow-up momentum and reverted down. It shows that the speculative activi
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