Marin Software Incorporated Stock Forecast
Volatile ride for Marin Software Incorporated stock price on Friday moving between $2.81 and $3.19
(Updated on Apr 19, 2024)
The Marin Software Incorporated stock price fell by -6.67% on the last day (Friday, 19th Apr 2024) from $3.15 to $2.94. During the last trading day the stock fluctuated 13.52% from a day low at $2.81 to a day high of $3.19. The price has fallen in 6 of the last 10 days but is still up by 894.25% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -578 thousand shares and in total, 274 thousand shares were bought and sold for approximately $804.68 thousand.
The stock lies in the upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $3.17 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 46.66% during the next 3 months and, with a 90% probability hold a price between $0.612 and $4.64 at the end of this 3-month period.
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MRIN Signals & Forecast
The Marin Software Incorporated 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 $2.13 and $0.682. A breakdown below any of these levels will issue sell signals. 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 Thursday, April 18, 2024, and so far it has fallen -6.67%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Marin Software Incorporated stock
On the downside, the stock finds support just below today's level from accumulated volume at $2.68 and $2.66. 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, Marin Software Incorporated finds support just below today's level at $2.68. If this is broken, then the next support from accumulated volume will be at $2.66 and $2.41.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.380 between high and low, or 13.52%. For the last week the stock has had daily average volatility of 24.16%.
The Marin Software Incorporated stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $2.78 (-5.34%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 83 and this increases the risk substantially. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (MRIN) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Marin Software Incorporated to open at $2.98, and during the day (based on 14 day Average True Range), to move between $2.60 and $3.28, which gives a possible trading interval of +/-$0.335 (+/-11.40%) up or down from last closing price. If Marin Software Incorporated takes out the full calculated possible swing range there will be an estimated 22.81% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3.15 (7.14%) than the support at $2.68 (8.84%), 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 Marin Software Incorporated 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 Marin Software Incorporated 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: 2.396 Buy Candidate Upgraded
Predicted Opening Price for Marin Software Incorporated of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $2.98 ( 1.36%) | $2.94 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MRIN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.36 | 14.29 % | |
| R2 | 3.21 | 9.35 % | ||
| R1 | 3.13 | 6.30 % | ||
| Current price: | 2.94 | |||
| Support | S1 | 2.83 | -3.58 % | |
| S2 | 2.75 | -6.63 % | ||
| S3 | 2.60 | -11.56 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 3.15 | 7.14 % | ||
| Current price | 2.94 | |||
| Support | S1 | 2.68 | -8.84% | |
| S2 | 2.66 | -9.52% | ||
| S3 | 2.41 | -18.03% |
FAQ
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