RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of MACK
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Merrimack Pharmaceuticals stock upgraded to Buy Candidate.
(Updated on Feb 26, 2024)


Buy or Hold candidate since Feb 08, 2024 Gain 7.93% PDF
The Merrimack Pharmaceuticals stock price fell by -0.204% on the last day (Monday, 26th Feb 2024) from $14.73 to $14.70. During the last trading day the stock fluctuated 0.87% from a day low at $14.67 to a day high of $14.80. The price has risen in 5 of the last 10 days and is up by 6.52% over the past 2 weeks. Volume has increased on the last day by 3 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 69 thousand shares were bought and sold for approximately $1.02 million.

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The stock lies in the middle of a wide and strong 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 11.58% during the next 3 months and, with a 90% probability hold a price between $14.92 and $16.97 at the end of this 3-month period.

MACK Signals & Forecast

The Merrimack Pharmaceuticals stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $14.70. On a fall, the stock will find some support from the long-term average at approximately $13.68. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, February 13, 2024, and so far it has fallen -2.00%. Further fall is indicated until a new bottom pivot has been found. Merrimack Pharmaceuticals gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The stock had a Golden Star Signal on Friday, September 22, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Buy
Special Signal Notification

Golden Star 12 Months

The stock had a Golden Star Signal on Friday, September 22, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

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Support, Risk & Stop-loss for Merrimack Pharmaceuticals stock

Merrimack Pharmaceuticals finds support from accumulated volume at $14.67 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.128 between high and low, or 0.87%. For the last week, the stock has had daily average volatility of 0.87%.

Our recommended stop-loss: $14.26 (-2.98%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 8 days ago.)

Trading Expectations (MACK) For The Upcoming Trading Day Of Tuesday 27th

For the upcoming trading day on Tuesday, 27th we expect Merrimack Pharmaceuticals to open at $14.72, and during the day (based on 14 day Average True Range), to move between $14.38 and $15.02, which gives a possible trading interval of +/-$0.323 (+/-2.20%) up or down from last closing price. If Merrimack Pharmaceuticals takes out the full calculated possible swing range there will be an estimated 4.40% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $14.72 (0.14%) than the support at $14.67 (0.20%), 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 Merrimack Pharmaceuticals stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Merrimack Pharmaceuticals stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 2.487 Open Broker Account

Buy Candidate Upgraded

Predicted Opening Price for Merrimack Pharmaceuticals of Tuesday, February 27, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Fair opening price February 27, 2024 Current price
$14.72 ( 0.154%) $14.70

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Fibonacci Support & Resistance Levels

Level Price
Resistance R3 14.85 1.02 %
R2 14.80 0.692 %
R1 14.77 0.487 %
Current price: 14.70
Support S1 14.67 -0.178 %
S2 14.64 -0.384 %
S3 14.59 -0.717 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 15.00 2.04 %
R2 14.73 0.204 %
R1 14.72 0.136 %
Current price 14.70
Support S1 14.67 -0.204%
S2 13.36 -9.12%
S3 12.93 -12.04%
What is the symbol for Merrimack Pharmaceuticals Stock and on which exchange is it traded?
The symbol for Merrimack Pharmaceuticals is MACK and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell Merrimack Pharmaceuticals Stock?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Merrimack Pharmaceuticals stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

How to buy Merrimack Pharmaceuticals Stock?
Merrimack Pharmaceuticals Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Merrimack Pharmaceuticals Stock.

What's the current price of Merrimack Pharmaceuticals Stock?
As of the end of day on the 2024-02-26, the price of an Merrimack Pharmaceuticals (MACK) share was $14.70.

What is the 52-week high and low for Merrimack Pharmaceuticals Stock?
The 52-week high for Merrimack Pharmaceuticals Stock is $15.89 and the 52-week low is $11.25.

What is the market capitalization of Merrimack Pharmaceuticals Stock?
As of the 2024-02-26, the market capitalization of Merrimack Pharmaceuticals is 210.519M.

When is the next earnings date for Merrimack Pharmaceuticals?
The upcoming earnings date for Merrimack Pharmaceuticals is Mar 07, 2024.

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About Merrimack Pharmaceuticals

Merrimack Pharmaceuticals Merrimack Pharmaceuticals, Inc. operates as a biopharmaceutical company. The company was incorporated in 1993 and is headquartered in Cambridge, Massachusetts.... MACK Profile

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