Marathon Patent Stock Forecast
Volatile ride for Marathon Patent stock price on Friday moving between $15.10 and $16.85
(Updated on Apr 19, 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 -9.49% during the next 3 months and, with a 90% probability hold a price between $11.48 and $26.47 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 $19.75. On a fall, the stock will find some support from the short-term average at $15.66. 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 -46.83%. 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
Marathon Patent finds support from accumulated volume at $16.27 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 $1.75 between high and low, or 11.59%. For the last week, the stock has had daily average volatility of 8.23%.
Marathon Patent is oversold on RSI14 (23). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
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 Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Marathon Patent Group to open at $16.15, and during the day (based on 14 day Average True Range), to move between $14.75 and $18.25, which gives a possible trading interval of +/-$1.75 (+/-10.58%) up or down from last closing price. If Marathon Patent Group takes out the full calculated possible swing range there will be an estimated 21.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $16.27 (1.39%) than the resistance at $17.85 (8.18%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -4.429 Sell Candidate Upgraded
Predicted Opening Price for Marathon Patent Group of Monday, April 22, 2024
Fair opening price April 22, 2024 | Current price |
---|---|
$16.15 ( 2.12%) | $16.50 |
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 | 17.90 | 8.48 % | |
R2 | 17.23 | 4.43 % | ||
R1 | 16.82 | 1.93 % | ||
Current price: | 16.50 | |||
Support | S1 | 15.48 | -6.17 % | |
S2 | 15.07 | -8.68 % | ||
S3 | 14.40 | -12.73 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 19.32 | 17.09 % | |
R2 | 18.52 | 12.24 % | ||
R1 | 17.85 | 8.18 % | ||
Current price | 16.50 | |||
Support | S1 | 16.27 | -1.39% | |
S2 | 16.11 | -2.36% | ||
S3 | 15.65 | -5.15% |
FAQ
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