MRM Stock Forecast

MRM stock price up 1.11% on Friday
(Updated on May 17, 2024)

MRM.PA Signals & Forecast

The MRM 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 18.03€ and 17.46€. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 26, 2024, and so far it has risen 8.33%. 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. 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 MRM stock

MRM finds support from accumulated volume at 18.00€ 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved 0€ between high and low, or 0%. For the last week the stock has had daily average volatility of 0.112%.

Our recommended stop-loss: 17.38€ (-4.50%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 14 days ago.)

Trading Expectations (MRM.PA) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect MRM to open at 18.20€, and during the day (based on 14 day Average True Range), to move between 18.08€ and 18.32€, which gives a possible trading interval of +/-0.118€ (+/-0.65%) up or down from last closing price. If MRM takes out the full calculated possible swing range there will be an estimated 1.29% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at 18.00€ (1.10%) than the resistance at 18.80€ (3.30%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is MRM stock A Buy?

MRM holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.130 Hold/Accumulate Unchanged

Predicted Opening Price for MRM of Monday, May 20, 2024

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