Markforged Holding Corporation Stock Forecast
Green day on Thursday for Markforged Holding Corporation
(Updated on May 02, 2024)
The Markforged Holding Corporation stock price gained 0.82% on the last trading day (Thursday, 2nd May 2024), rising from $0.608 to $0.613. During the last trading day the stock fluctuated 8.53% from a day low at $0.590 to a day high of $0.640. The price has risen in 5 of the last 10 days and is up by 4.81% over the past 2 weeks. Volume fell on the last day by -45 thousand shares and in total, 155 thousand shares were bought and sold for approximately $95.13 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 $0.537 and $0.87 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 15.82%. 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). 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 sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.637 and $0.706. A break-up above any of these levels will issue buy signals. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Markforged Holding Corporation stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.570 and $0.540. 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, Markforged Holding Corporation finds support just below today's level at $0.570. If this is broken, then the next support from accumulated volume will be at $0.540 and $0.529.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0503 between high and low, or 8.53%. For the last week the stock has had daily average volatility of 7.91%.
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 Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Markforged Holding Corporation to open at $0.614, and during the day (based on 14 day Average True Range), to move between $0.556 and $0.670, which gives a possible trading interval of +/-$0.0569 (+/-9.29%) up or down from last closing price. If Markforged Holding Corporation takes out the full calculated possible swing range there will be an estimated 18.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.635 (3.59%) than the support at $0.570 (6.97%), 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.
Earnings coming up
Markforged Holding Corporation will release earnings BMO on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.0600. We will update the financials statements for Markforged Holding Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 10.69% in the first trading day after earnings release.
Is Markforged Holding Corporation stock A Buy?
Markforged Holding Corporation holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -3.187 Sell Candidate Unchanged
Predicted Opening Price for Markforged Holding Corporation of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $0.614 ( 0.234%) | $0.613 |
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 | 0.664 | 8.44 % | |
| R2 | 0.645 | 5.31 % | ||
| R1 | 0.633 | 3.37 % | ||
| Current price: | 0.613 | |||
| Support | S1 | 0.595 | -2.90 % | |
| S2 | 0.583 | -4.84 % | ||
| S3 | 0.564 | -7.98 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.680 | 10.98 % | |
| R2 | 0.666 | 8.62 % | ||
| R1 | 0.635 | 3.59 % | ||
| Current price | 0.613 | |||
| Support | S1 | 0.570 | -6.97% | |
| S2 | 0.540 | -11.87% | ||
| S3 | 0.529 | -13.66% |
FAQ
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