MRM Stock Forecast

MRM stock upgraded to Buy Candidate.
(Updated on May 24, 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 18.69€ and 17.71€. 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 13.69%. 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 18.90€ 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 0.100€ between high and low, or 0.526%. For the last week the stock has had daily average volatility of 0.105%.

The MRM 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: 18.60€ (-2.64%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 93 and this increases the risk substantially. There is a buy signal from a pivot bottom found 74 days ago.)

Trading Expectations (MRM.PA) For The Upcoming Trading Day Of Monday 27th

For the upcoming trading day on Monday, 27th we expect MRM to open at 19.07€, and during the day (based on 14 day Average True Range), to move between 18.95€ and 19.25€, which gives a possible trading interval of +/-0.146€ (+/-0.77%) up or down from last closing price. If MRM takes out the full calculated possible swing range there will be an estimated 1.53% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ 18.90€, some 0.200€ (1.05%) from the current price of 19.10€, our system finds the risk reward attractive.

Is MRM stock A Buy?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for 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: 1.365 Buy Candidate Upgraded

Predicted Opening Price for MRM of Monday, May 27, 2024

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