MariMed Inc. Stock Forecast
Weaker technical forecast for MariMed Inc. as stock downgraded to Sell Candidate.
(Updated on May 06, 2024)
The MariMed Inc. stock price fell by -3.54% on the last day (Monday, 6th May 2024) from $0.300 to $0.289. During the last trading day the stock fluctuated 6.09% from a day low at $0.288 to a day high of $0.305. The price has risen in 6 of the last 10 days and is up by 13.21% over the past 2 weeks. Volume has increased on the last day by 122 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 225 thousand shares were bought and sold for approximately $65.21 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -4.52% during the next 3 months and, with a 90% probability hold a price between $0.186 and $0.309 at the end of this 3-month period.
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MRMD Signals & Forecast
The MariMed Inc. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $0.293. On a fall, the stock will find some support from the long-term average at approximately $0.269. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Tuesday, April 30, 2024, and so far it has fallen -10.95%. Further fall is indicated until a new bottom pivot has been found. MariMed Inc. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for MariMed Inc. stock
MariMed Inc. finds support from accumulated volume at $0.280 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0175 between high and low, or 6.09%. For the last week, the stock has had daily average volatility of 16.36%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MRMD) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect MariMed Inc. to open at $0.294, and during the day (based on 14 day Average True Range), to move between $0.261 and $0.318, which gives a possible trading interval of +/-$0.0286 (+/-9.90%) up or down from last closing price. If MariMed Inc. takes out the full calculated possible swing range there will be an estimated 19.80% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.280 (3.24%) than the resistance at $0.304 (5.11%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
MariMed Inc. will release earnings AMC on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.0100. We will update the financials statements for MariMed Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 10.02% in the first trading day after earnings release.
Is MariMed Inc. stock A Buy?
MariMed Inc. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.529 Sell Candidate Downgraded
Predicted Opening Price for MariMed Inc. of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $0.294 ( 1.58%) | $0.289 |
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 | 0.311 | 7.63 % | |
| R2 | 0.305 | 5.32 % | ||
| R1 | 0.301 | 3.89 % | ||
| Current price: | 0.289 | |||
| Support | S1 | 0.287 | -0.726 % | |
| S2 | 0.283 | -2.15 % | ||
| S3 | 0.276 | -4.46 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.330 | 14.04 % | |
| R2 | 0.325 | 12.29 % | ||
| R1 | 0.304 | 5.11 % | ||
| Current price | 0.289 | |||
| Support | S1 | 0.280 | -3.24% | |
| S2 | 0.275 | -4.97% | ||
| S3 | 0.254 | -12.22% |
FAQ
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