MariMed Inc. Stock Forecast
Stronger technical forecast for MariMed Inc. stock price after Thursday trading.
(Updated on Apr 25, 2024)
The MariMed Inc. stock price gained 3.37% on the last trading day (Thursday, 25th Apr 2024), rising from $0.259 to $0.267. 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 4.90% from a day low at $0.255 to a day high of $0.268. The price has risen in 6 of the last 10 days and is up by 2.77% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 61 thousand more shares were traded than the day before. In total, 127 thousand shares were bought and sold for approximately $33.82 thousand.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $0.250, a level that may pose a second chance to hit a runner. According to fan-theory $0.339 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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MRMD Signals & Forecast
The MariMed Inc. 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 $0.265 and $0.256. A breakdown below any of these levels will issue sell signals. MariMed Inc. 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. The very low volume increases the risk and reduces the other technical signals issued. 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 Friday, March 22, 2024, and so far it has fallen -5.25%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for MariMed Inc. stock
MariMed Inc. finds support from accumulated volume at $0.254 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0125 between high and low, or 4.90%. For the last week, the stock has had daily average volatility of 5.96%.
Our recommended stop-loss: $0.256 (-4.23%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 23 days ago.)
Trading Expectations (MRMD) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect MariMed Inc. to open at $0.263, and during the day (based on 14 day Average True Range), to move between $0.245 and $0.289, which gives a possible trading interval of +/-$0.0222 (+/-8.31%) up or down from last closing price. If MariMed Inc. takes out the full calculated possible swing range there will be an estimated 16.61% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.275 (2.92%) than the support at $0.254 (4.94%), 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 MariMed Inc. stock A Buy?
MariMed Inc. 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.748 Hold/Accumulate Upgraded
Predicted Opening Price for MariMed Inc. of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $0.263 ( 1.48%) | $0.267 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MRMD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.276 | 3.19 % | |
| R2 | 0.271 | 1.41 % | ||
| R1 | 0.268 | 0.303 % | ||
| Current price: | 0.267 | |||
| Support | S1 | 0.258 | -3.27 % | |
| S2 | 0.256 | -4.38 % | ||
| S3 | 0.251 | -6.16 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.330 | 23.50 % | |
| R2 | 0.280 | 4.79 % | ||
| R1 | 0.275 | 2.92 % | ||
| Current price | 0.267 | |||
| Support | S1 | 0.254 | -4.94% | |
| S2 | 0.250 | -6.47% | ||
| S3 | 0.204 | -23.62% |
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