Marathon Patent Stock Forecast
Volatile ride for Marathon Patent stock price on Wednesday moving between $20.00 and $22.57
(Updated on Mar 27, 2024)
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 3.36% during the next 3 months and, with a 90% probability hold a price between $16.94 and $32.42 at the end of this 3-month period.
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MARA Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, March 14, 2024, and so far it has risen 21.06%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Marathon Patent stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $23.43. On a fall, the stock will find some support from the short-term average at $21.11. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for Marathon Patent stock
Marathon Patent finds support from accumulated volume at $21.58 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $2.57 between high and low, or 12.85%. For the last week, the stock has had daily average volatility of 8.60%.
Our recommended stop-loss: $21.19 (-3.98%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (MARA) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Marathon Patent Group to open at $21.55, and during the day (based on 14 day Average True Range), to move between $19.47 and $24.67, which gives a possible trading interval of +/-$2.60 (+/-11.78%) up or down from last closing price. If Marathon Patent Group takes out the full calculated possible swing range there will be an estimated 23.57% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $22.40 (1.50%) than the support at $21.58 (2.22%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Marathon Patent Group stock A Buy?
Marathon Patent holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Hold/Accumulate candidate.
Current score: -0.346 Hold/Accumulate Upgraded
Predicted Opening Price for Marathon Patent Group of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$21.55 ( 2.37%) | $22.07 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MARA
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 24.12 | 9.27 % | |
R2 | 23.13 | 4.83 % | ||
R1 | 22.53 | 2.08 % | ||
Current price: | 22.07 | |||
Support | S1 | 20.56 | -6.82 % | |
S2 | 19.96 | -9.57 % | ||
S3 | 18.98 | -14.02 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 25.90 | 17.35 % | |
R2 | 23.49 | 6.43 % | ||
R1 | 22.40 | 1.50 % | ||
Current price | 22.07 | |||
Support | S1 | 21.58 | -2.22% | |
S2 | 18.98 | -14.00% | ||
S3 | 17.78 | -19.44% |
FAQ
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