Volatile ride for Markforged Holding Corporation stock price on Tuesday moving between $1.73 and $2.10

The Markforged Holding Corporation stock price gained 24.22% on the last trading day (Tuesday, 25th Jul 2023), rising from $1.61 to $2.00. During the last trading day the stock fluctuated 21.39% from a day low at $1.73 to a day high of $2.10. The price has risen in 7 of the last 10 days and is up by 62.6% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 6 million more shares were traded than the day before. In total, 15 million shares were bought and sold for approximately $29.76 million.

The stock has broken the wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $1.46, a level that may pose a second chance to hit a runner.

The Markforged Holding Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $1.45 and $1.18. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, July 21, 2023, and so far it has risen 73.91%. 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.

On the downside, the stock finds support just below today's level from accumulated volume at $1.61.With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the stock price.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.370 between high and low, or 21.39%. For the last week, the stock has had daily average volatility of 21.68%.

Markforged Holding Corporation 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.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Hold/Accumulate candidate.