Markforged Holding Corporation Stock Forecast
Volatile ride for Markforged Holding Corporation stock price on Friday moving between $0.600 and $0.689
(Updated on Apr 19, 2024)
The Markforged Holding Corporation stock price gained 16.32% on the last trading day (Friday, 19th Apr 2024), rising from $0.585 to $0.680. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 14.88% from a day low at $0.600 to a day high of $0.689. The price has risen in 6 of the last 10 days but is still down by -4.49% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 913 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $870.60 thousand.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Markforged Holding Corporation stock with a 90% probability to be traded between $0.529 and $0.85 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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MKFG Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 28.54%. Further rise is indicated until a new top pivot has been found. Markforged Holding Corporation has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Markforged Holding Corporation 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 $0.721. On a fall, the stock will find some support from the short-term average at $0.616. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Markforged Holding Corporation stock
Markforged Holding Corporation finds support from accumulated volume at $0.666 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 $0.0893 between high and low, or 14.88%. For the last week, the stock has had daily average volatility of 15.11%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MKFG) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Markforged Holding Corporation to open at $0.656, and during the day (based on 14 day Average True Range), to move between $0.613 and $0.747, which gives a possible trading interval of +/-$0.0672 (+/-9.89%) up or down from last closing price. If Markforged Holding Corporation takes out the full calculated possible swing range there will be an estimated 19.78% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.666 (2.13%) than the resistance at $0.740 (8.82%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Markforged Holding Corporation stock A Buy?
Markforged Holding Corporation 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: -1.954 Sell Candidate Unchanged
Predicted Opening Price for Markforged Holding Corporation of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $0.656 ( 3.47%) | $0.680 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MKFG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.746 | 9.67 % | |
| R2 | 0.712 | 4.65 % | ||
| R1 | 0.691 | 1.55 % | ||
| Current price: | 0.680 | |||
| Support | S1 | 0.622 | -8.48 % | |
| S2 | 0.601 | -11.58 % | ||
| S3 | 0.567 | -16.60 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.83 | 22.56 % | |
| R2 | 0.82 | 19.99 % | ||
| R1 | 0.740 | 8.82 % | ||
| Current price | 0.680 | |||
| Support | S1 | 0.666 | -2.13% | |
| S2 | 0.635 | -6.66% | ||
| S3 | 0.570 | -16.18% |
FAQ
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