SmoothJB

Marin Software Inc (NASDAQ:MRIN)

NASDAQ:MRIN   Marin Software Incorporated
Marin Software Inc (NASDAQ:MRIN) could we be looking at the beginning of another big rally? This stock surged late in the session on Friday closing above the $2 mark on strong volume accumulation. This stock has been flying under the radar of many traders for quite some time due to Marin's integration with Amazon and deserves a look going forward. Chief Executive Officer Chris Lien highlighted the importance of Amazon as part of a digital marketing strategy in November after the announcement of the financial results for the third quarter ended September 30, 2020. I think the news is positive and the company is really starting to turn the corner. This formerly $5.7 stock now trades for $2 a share. I think the stock could rebound smartly from here. From a technical standpoint, it has a very interesting daily chart and could have a bigger move soon. The break of the next key resistance line 2.05 (Friday's high) on volume should be the next buy point. If it clears this resistance the move may be powerful. The buy signal shown in the 4h chart above was generated when MACD crossed up signal line indicating a possible uptrend in the future. Plus, it broke the major downtrend line and RSI is also above the 50% level. This chart definitely looks like a bottom chart to me. Let's see what next week brings.
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