Marathon Patent Stock Forecast
Big movements in Marathon Patent stock price on Monday moving 13.16% between high and low
(Updated on Apr 22, 2024)
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -11.57% during the next 3 months and, with a 90% probability hold a price between $10.56 and $25.45 at the end of this 3-month period.
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MARA Signals & Forecast
There are mixed signals in the stock today. 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 $19.48. On a fall, the stock will find some support from the short-term average at $15.65. 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. A sell signal was issued from a pivot top point on Wednesday, February 28, 2024, and so far it has fallen -43.44%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell 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.
Support, Risk & Stop-loss for Marathon Patent stock
On the downside, the stock finds support just below today's level from accumulated volume at $16.27 and $16.11. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Marathon Patent finds support just below today's level at $16.27. If this is broken, then the next support from accumulated volume will be at $16.11 and $15.65.
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 $2.05 between high and low, or 13.16%. For the last week, the stock has had daily average volatility of 9.23%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MARA) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Marathon Patent Group to open at $16.89, and during the day (based on 14 day Average True Range), to move between $15.78 and $19.32, which gives a possible trading interval of +/-$1.77 (+/-10.07%) up or down from last closing price. If Marathon Patent Group takes out the full calculated possible swing range there will be an estimated 20.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $18.52 (5.53%) than the support at $16.27 (7.29%), 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 negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.719 Sell Candidate Unchanged
Predicted Opening Price for Marathon Patent Group of Tuesday, April 23, 2024
Fair opening price April 23, 2024 | Current price |
---|---|
$16.89 ( 3.77%) | $17.55 |
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 | 18.93 | 7.88 % | |
R2 | 18.15 | 3.43 % | ||
R1 | 17.67 | 0.681 % | ||
Current price: | 17.55 | |||
Support | S1 | 16.11 | -8.22 % | |
S2 | 15.62 | -10.97 % | ||
S3 | 14.84 | -15.42 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 21.58 | 22.96 % | |
R2 | 19.32 | 10.09 % | ||
R1 | 18.52 | 5.53 % | ||
Current price | 17.55 | |||
Support | S1 | 16.27 | -7.29% | |
S2 | 16.11 | -8.21% | ||
S3 | 15.65 | -10.83% |
FAQ
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