MariMed Inc. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
High volatility in MariMed Inc. stock price on Tuesday which ended trading at $0.295
(Updated on May 07, 2024)
The MariMed Inc. stock price gained 1.94% on the last trading day (Tuesday, 7th May 2024), rising from $0.289 to $0.295. During the last trading day the stock fluctuated 11.96% from a day low at $0.280 to a day high of $0.314. The price has risen in 6 of the last 10 days and is up by 15.12% over the past 2 weeks. Volume fell on the last day by -23 thousand shares and in total, 203 thousand shares were bought and sold for approximately $59.82 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect MariMed Inc. stock with a 90% probability to be traded between $0.196 and $0.318 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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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 $0.297. 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 -9.22%. Further fall is indicated until a new bottom pivot has been found. 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 MariMed Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.280 and $0.275. 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, MariMed Inc. finds support just below today's level at $0.280. If this is broken, then the next support from accumulated volume will be at $0.275 and $0.254.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0335 between high and low, or 11.96%. For the last week the stock has had daily average volatility of 12.38%.
Our recommended stop-loss: $0.279 (-5.32%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (MRMD) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect MariMed Inc. to open at $0.296, and during the day (based on 14 day Average True Range), to move between $0.266 and $0.324, which gives a possible trading interval of +/-$0.0290 (+/-9.82%) up or down from last closing price. If MariMed Inc. takes out the full calculated possible swing range there will be an estimated 19.64% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.304 (3.10%) than the support at $0.280 (5.08%), 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.
Earnings coming up
MariMed Inc. will release earnings -- 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 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: -0.560 Hold/Accumulate Upgraded
Predicted Opening Price for MariMed Inc. of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $0.296 ( 0.395%) | $0.295 |
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 | 0.330 | 11.75 % | |
| R2 | 0.317 | 7.41 % | ||
| R1 | 0.309 | 4.73 % | ||
| Current price: | 0.295 | |||
| Support | S1 | 0.283 | -3.94 % | |
| S2 | 0.275 | -6.62 % | ||
| S3 | 0.263 | -10.96 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.330 | 11.86 % | |
| R2 | 0.325 | 10.15 % | ||
| R1 | 0.304 | 3.10 % | ||
| Current price | 0.295 | |||
| Support | S1 | 0.280 | -5.08% | |
| S2 | 0.275 | -6.78% | ||
| S3 | 0.254 | -13.90% |
FAQ
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