Maritime Resources Corp. 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
Volatile ride for Maritime Resources Corp. stock price on Monday moving between $0.0360 and $0.0700
(Updated on May 20, 2024)
The Maritime Resources Corp. stock price fell by -20.00% on the last day (Monday, 20th May 2024) from $0.0500 to $0.0400. During the last trading day the stock fluctuated 94.44% from a day low at $0.0360 to a day high of $0.0700. The price has risen in 5 of the last 10 days but is still down by -20% for this period. Volume has increased on the last day by 199 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, 506 thousand shares were bought and sold for approximately $20.24 thousand.
Given the current short-term trend, the stock is expected to rise 52.64% during the next 3 months and, with a 90% probability hold a price between $0.0611 and $0.0984 at the end of this 3-month period.
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MRTMF Signals & Forecast
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. 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 $0.0490 and $0.0475. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 14, 2024, and so far it has fallen -36.51%. Further fall is indicated until a new bottom pivot has been found. 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 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 $0.0340 between high and low, or 94.44%. For the last week, the stock has had daily average volatility of 47.65%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MRTMF) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Maritime Resources Corp. to open at $0.0487, and during the day (based on 14 day Average True Range), to move between $0.0253 and $0.0547, which gives a possible trading interval of +/-$0.0147 (+/-36.71%) up or down from last closing price. If Maritime Resources Corp. takes out the full calculated possible swing range there will be an estimated 73.43% 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 $0.0440 (10.00%), 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?
The Maritime Resources Corp. stock holds several negative signals and despite the positive trend, we believe Maritime Resources Corp. will perform weakly in the next couple of days or weeks. Therefore, we 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 Buy to a Strong Sell candidate.
Current score: -5.594 Strong Sell Candidate Downgraded
Predicted Opening Price for Maritime Resources Corp. of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| $0.0487 ( 21.67%) | $0.0400 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MRTMF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0827 | 106.67 % | |
| R2 | 0.0697 | 74.20 % | ||
| R1 | 0.0617 | 54.14 % | ||
| Current price: | 0.0400 | |||
| Support | S1 | 0.0357 | -10.80 % | |
| S2 | 0.0277 | -30.86 % | ||
| S3 | 0.0147 | -63.33 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0480 | 20.00 % | |
| R2 | 0.0450 | 12.50 % | ||
| R1 | 0.0440 | 10.00 % | ||
| Current price | 0.0400 | |||
| Support | S1 | 0.0375 | -6.25% | |
| S2 | 0.0331 | -17.25% | ||
| S3 | 0.0325 | -18.75% |
FAQ
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