Maritime Resources Corp. Stock Forecast

Big movements in Maritime Resources Corp. stock price on Thursday moving 25.00% between high and low
(Updated on May 02, 2024)

MRTMF Signals & Forecast

There are few to no technical positive signals at the moment. The Maritime Resources Corp. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $0.0453 and $0.0439. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -33.33%. 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). Maritime Resources Corp. 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 Maritime Resources Corp. stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.0375 and $0.0331. 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, Maritime Resources Corp. finds support just below today's level at $0.0375. If this is broken, then the next support from accumulated volume will be at $0.0331 and $0.0325.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0100 between high and low, or 25.00%. For the last week, the stock has had daily average volatility of 17.72%.

Our recommended stop-loss: $0.0385 (-3.83%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 21 days ago.)

Trading Expectations (MRTMF) For The Upcoming Trading Day Of Friday 3rd

For the upcoming trading day on Friday, 3rd we expect Maritime Resources Corp. to open at $0.0433, and during the day (based on 14 day Average True Range), to move between $0.0298 and $0.0502, which gives a possible trading interval of +/-$0.0102 (+/-25.38%) up or down from last closing price. If Maritime Resources Corp. takes out the full calculated possible swing range there will be an estimated 50.76% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0375 (6.25%) than the resistance at $0.0439 (9.75%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Maritime Resources Corp. stock A Buy?

Maritime Resources Corp. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Downgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Maritime Resources Corp. of Friday, May 3, 2024

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