Million

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Microvast stock price closed at $2.23 while witnessing a gain of 23.2% during the last intraday session.</a> </li> 
 <li> <span>2</span> <a>MVST stock has climbed above all the major exponential moving averages.</a> </li> 
 <li> <span>3</span> <a>The year-to-date return of Microvast Holding is 40.25% while the monthly return is -22.30%.</a> </li> 
</ul> 
<p>Microvast (MVST) stock price was in a strong downtrend after facing rejection from $2.90 and retraced back to form a support at $1.55. The stock price has been in an uptrend since early May 2023, rising from the low of $0.93 and recently forming an annual high of $2.91. MVST stock price surged approximately 212% from the low.&nbsp;</p> 
<p>During mid-August, the price broke the uptrend and fell to form a support at the $1.55 level. MVST stock price has been in a strong bullish trend since 25 August 2023. The last candle was successful in breaking and closing above the resistance level of $2.15.&nbsp;</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh4.googleusercontent.com/Bcd6C14ydLH3sOUZF4cVsHCmGvUjBwlmRpRkQ9E0FULqwAO3sUv6SQm4a45HZhBx2pZgZGE6s27LmFN5v9IQzkJR2estsIyceUlnjz2giHuLbQXCS1Gl-39nfAXPXGtbT6t7qd3cEskY3mm_hnZLig" alt="Microvast Holding (MVST Stock): Upside Potential of 400%&nbsp;"> 
  <figcaption class="wp-element-caption">
    Source: MVST Stock Price By <a href="https://www.tradingview.com/x/bJKtHNkn/" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>. 
  </figcaption> 
 </figure> 
</div> 
<p>If the next candle can break the high of the last candle, the price might rise toward $2.90 and potentially break the annual high to advance higher. On the other hand, if the next candle breaks the low of the previous candle, it might enter back into the previous zone and meltdown toward the support level of $1.55.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-reason-behind-23-2-surge-in-microvast-stock-strong"><strong>Reason Behind 23.2% Surge In Microvast Stock</strong>&nbsp;</h2> 
<p>On 31 August 2023, Janney Montgomery Scott analyst Sean Milligan initiated a coverage on <a href="https://www.thecoinrepublic.com/2023/07/16/mvst-stock-lost-12-73-recent-expansion-might-help-surge/" rel="noopener noreferrer nofollow">Microvast</a> with a buy rating and price target of $8. Microvast is currently covered by five analyst firms. Out of the five, four analyst firms have similar opinions and price targets for the lithium-ion battery stock.&nbsp;</p> 
<p>Microvast reported second-quarter results in early August and was successful in beating the estimates of revenue as well as earnings per share. From the last two quarters, the results have been positive. The current price target estimate shows an upside potential of 400%.&nbsp;</p> 
<p>Microvast expects third-quarter revenue to be around the range of $72 Million to $80 Million. Full-year revenue expectations are between $348 Million and $368 Million. Last year, the company reported a revenue of $204.50 Million.</p> 
<h3 class="wp-block-heading" id="strong-will-mvst-stock-continue-rising-strong"><strong>Will MVST Stock Continue Rising?</strong>&nbsp;</h3> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh4.googleusercontent.com/-lXUqSFPXIIgeqi7qVzciY3sKWHc3rkULFZ8IOGmSIDuYeBrDLG3qcFjXM6iHkWdDizz3WplqnoClZMpxivJshZRIK0A8zKe59So_pGEevLEicZcwQO9BjXQdEC2u58azaX1f_pt5hf-tXYb2M8M1w" alt="Microvast Holding (MVST Stock): Upside Potential of 400%&nbsp;"> 
  <figcaption class="wp-element-caption">
    Source: MVST Stock Price By <a href="https://www.tradingview.com/x/TmIicm8m/" rel="noopener noreferrer nofollow">TradingView</a>. 
  </figcaption> 
 </figure> 
</div> 
<p>The <a href="https://www.thecoinrepublic.com/2023/07/16/mvst-stock-lost-12-73-recent-expansion-might-help-surge/" target="_blank" rel="noopener noreferrer nofollow">stock price</a> has jumped above 20, 50, 100, and 200-day exponential moving averages, indicating bullish momentum. The relative strength index has surged above the 50 mark and stands at 57.99, suggesting a rise in the participation of bulls in the market.&nbsp;</p> 
<p>Chaikin money flow (CMF) score is -0.22, implying weakness in the market. CMF has been trading below the 0 mark since 8th August showing a strong confluence of bears over the price. The Bollinger bands have started to contract indicating a decrease in volatility.&nbsp;</p> 
<h4 class="wp-block-heading"><strong>Conclusion&nbsp;</strong></h4> 
<p>The market structure shows that MVST stock price has finally broken the resistance level of $2.15 which indicates upside potential. Technical parameters also favor the buying side. The lithium-ion company is slowly showing a positive outlook to the investors.</p> 
<h5 class="wp-block-heading"><strong>Technical Levels</strong></h5> 
<ul> 
 <li>Major support: $1.55 and $1.24</li> 
 <li>Major resistance: $2.90 and $3.10&nbsp;</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

Microvast Holding (MVST Stock): Upside Potential of 400%

Table of Contents

Thecoinrepublic.com

Alte articole publicate pe 1 sept. 2023

E-Commerce’s Crypto Revolution: Bridging the Gap to Mainstream Adoption

Robinhood buys back $606m shares seized from Bankman-Fried

Blockchain Analytic Firm Nansen Announces 30% Layoff

From Beta to Boom: Borroe’s 25% Surge Leaves Monero (XMR) & Stellar (XLM) Behind!

UK Crypto Businesses Gear Up for New ‘Travel Rule’ – What You Need to Know!

Ripple’s 1 Billion XRP Unlock: A Sign of Strength or Weakness?

Join our free newsletter for daily crypto updates!