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- FFIE has been improving their finances and may see a strong growth in next quarter
- Technical indicators of FFIE are favoring weak upside move. It is trading near $0.61 with a gain of 5%
Faraday Future Intelligent Electric Inc is a vehicle (EV) manufacturer that has been making headlines in recent years for its ambitious plans to rival established players in the industry. The company was founded in 2014 by an entrepreneur with a background in technology.FFIE has developed a range of electric vehicles, including the FF 91, which was unveiled at the Consumer Electronics Show in 2017 and has been described as a “Tesla-fighter.” The FF 91 is a luxury SUV with advanced features such as autonomous driving capabilities, a range of over 300 miles on a single charge, and a 0-60 mph acceleration time of less than 2 seconds.FF has also announced plans to develop a range of other EV models, including a sedan, a sport utility vehicle, and a crossover, with the goal of becoming a full-line EV manufacturer.FF’s Hanford, Calif. manufacturing facility is named ‘FF ieFactory California’ and is ready to produce produce the FF 91 luxury EV for North America and China markets.
FFIE has a market cap of $276 Million with a negative EPS as per yahoo finance. Various analysts are expecting a growth in the company in near future.
Are Bulls Ready To Take Over?
The weekly technical chart of the FFIE suggests a consolidated trend in the price.On the daily chart it is currently trading near the value of $0.6132 and has seen a gain of 5% in the intraday session.The upside trend of the FFIE can see a halt near the value of $0.1.Meanwhile the support of the FFIE can be seen near $0.4.It is currently trading above the 50 and 100 DMA.There can be a positive crossover which can push the asset price to a new high.Various analysts are expecting a strong growth in the future.
Conclusion
FFIE has seen a decline in the market as EV market has declined. FFIE stock price can see a strong move in the future.
Technical Levels
Major Support:$0.45
Major Resistance:$0.1
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
