Mullen Automotive Inc (MULN)

[downdraft]

Something big might be coming down the pipeline. Those are quite huge volume spikes on the chart in the past week. Plus, normally there's a net distribution of shares, signalling more dilution, but in this rare case there's a net accumulation of shares, about 25 million or so, even after this trader pullback. If I just use a $3 stock price, that would be about $75 million that has moved into the stock!

I don't know for sure if that's what happened, but on those two huge days up the chart, the size of the trades going through was massive, like hundreds of thousands of dollars worth for numerous individual trades, and one I think was for over a million dollars. That's not mom and pop day traders buying that amount of stock. It sure seems like it's getting loaded big-time!

Here's a link to a one year chart. Notice how the Chaikin Money Flow has also turned positive. Only time will tell if the reversal is finally in play!

Barchart - 1 year time frame