Merrimack Pharmaceuticals Stock Forecast

Merrimack Pharmaceuticals stock price down 0% on Thursday
(Updated on Apr 18, 2024)

MACK Signals & Forecast

The volume rose on the last day while price remained unchanged. This may be an early warning and the stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Merrimack Pharmaceuticals stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $14.69 and $14.71. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, February 13, 2024, and so far it has fallen -2.13%. 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). The stock had a Golden Star Signal on Friday, September 22, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Merrimack Pharmaceuticals stock

Merrimack Pharmaceuticals finds support from accumulated volume at $14.67 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.0400 between high and low, or 0.273%. For the last week the stock has had daily average volatility of 0.293%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (MACK) For The Upcoming Trading Day Of Friday 19th

For the upcoming trading day on Friday, 19th we expect Merrimack Pharmaceuticals to open at $14.69, and during the day (based on 14 day Average True Range), to move between $14.60 and $14.76, which gives a possible trading interval of +/-$0.0792 (+/-0.54%) up or down from last closing price. If Merrimack Pharmaceuticals takes out the full calculated possible swing range there will be an estimated 1.08% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $14.69 (0.07%) than the support at $14.67 (0.07%), 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 Merrimack Pharmaceuticals stock A Buy?

The Merrimack Pharmaceuticals stock holds several negative signals and despite the positive trend, we believe Merrimack Pharmaceuticals will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -3.477 Sell Candidate Unchanged

Predicted Opening Price for Merrimack Pharmaceuticals of Friday, April 19, 2024

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