Marathon Patent Stock Forecast

Green day on Thursday for Marathon Patent
(Updated on Apr 18, 2024)

MARA Signals & Forecast

Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Marathon Patent 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 $15.79 and $20.02. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, February 28, 2024, and so far it has fallen -51.56%. 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).

Support, Risk & Stop-loss for Marathon Patent stock

Marathon Patent finds support from accumulated volume at $14.63 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 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 $1.36 between high and low, or 9.41%. For the last week, the stock has had daily average volatility of 8.03%.

Marathon Patent is oversold on RSI14 (8). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

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

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

For the upcoming trading day on Friday, 19th we expect Marathon Patent Group to open at $15.10, and during the day (based on 14 day Average True Range), to move between $13.29 and $16.77, which gives a possible trading interval of +/-$1.74 (+/-11.57%) up or down from last closing price. If Marathon Patent Group takes out the full calculated possible swing range there will be an estimated 23.15% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $14.63 (2.66%) than the resistance at $16.11 (7.19%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Marathon Patent Group stock A Buy?

Marathon Patent holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

Current score: -5.142 Strong Sell Candidate Unchanged

Predicted Opening Price for Marathon Patent Group of Friday, April 19, 2024

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