Mara: pretty sure were range bound between here and 1.40 possible price action with later breakout. Thoughts?
MARA trade ideas
MARA - Bullish IdeaGoing to break this down quickly as already covered this before.
Technical:
1 - Oversold chart
2 - Inverse Head and Shoulder pattern forming
3- Volume past 3-6 months is Highest ever recorded on this stock since 2014 IPO
4 - Trend - Higher Highs and Higher lows from 2020 lows
Fundamental:
1 - Blockchain Play so has serious hype potential
2 - Purchased 500 Additional ASIC S10 Pro miner's + waiting on 1,160 more coming
3 - Has completed the installation of 700 M30S ASIC bitcoin miners past month
4 - DEBT FREE according to their latest PR on yahoo finance (June 3rd 2020)
" On May 19, 2020, Marathon announced the reduction of the conversion price of Convertible Note originally issued on August 31, 2017. The entire principal balance of $999,105.60 and $215,411.30 of accrued interest has been fully converted by the Note holder to Marathon Common stock, reducing the company’s Long-Term Debt to zero "
Climbing Above 200-day Moving Average LineToday Marathon Patent Group went up +28.31% on more than double the average daily volume. In the process, it climbed above its 200-day moving average line and closed above it.
TradingView's technical analysis summary is BUY:
www.tradingview.com
According to the Wall Street Journal, this stock's consensus analyst rating is BUY and its average price target is $64:
www.wsj.com
According to CNN Business, the median price target for this stock represents a +5,825.93% increase from the last price of 1.08:
money.cnn.com(NASDAQ%3AMARA)&text=The%201%20analysts%20offering%2012,the%20last%20price%20of%200.86.
GLTA!
UP 38.89% ON MASSIVE VOLUMEYesterday Marathon Patent Group went UP by 38.89% on more than 7 times average daily volume. In doing so, it climbed above its 200-day moving average line, a long-term BULLISH signal. It closed well above this line and in the upper half of the day's trading range.
TradingView's technical analysis summary is BUY:
www.tradingview.com
According to the Wall Street Journal, this stock's consensus analyst rating is BUY and its average price target is $64:
www.wsj.com
And, according to CNN Business, the median price target for this stock represents a +5,145.90% increase from the last price of 1.22:
money.cnn.com
GLTA!
$MARA can rise in the next daysContextual immersion trading strategy idea.
Marathon Patent Group, Inc. focuses on mining digital assets. It owns cryptocurrency mining machines and a data center to mine digital assets.
The share price rose after the company announced the installation of 700 M30S+ ASIC miners. The company also became debt-free.
The demand for shares of the company still looks higher than the supply.
These and other conditions can cause a rise in the share price in the next days.
So I opened a long position from $1,10;
stop-loss — $1,04.
Information about take-profits will be later.
Do not view this idea as a recommendation for trading or investing. It is published only to introduce my own vision.
Always do your own analysis before making deals. When you use any materials, do not rely on blind trust.
You should remember that isolated deals do not give systematic profit, so trade/invest using a developed strategy.
If you like my content, you can subscribe to the news and receive my fresh ideas.
Thanks for being with me!
Climbing Above 200-day Moving Average LineToday Marathon Patent Group climbed above its 200-day moving average line on more than double average daily volume, a long-term BULLISH signal.
TradingView's technical analysis summary is BUY:
www.tradingview.com
According to the Wall Street Journal, this stock's consensus analyst rating is BUY and the average price target is $64:
www.wsj.com
GLTA!
MARA - Update - Waiting to Pop or BreakdownNote - MARA is speculative, not based on earnings or fundamentals, and has high volatility.
MARA made a decent pop just like we anticipated.
Currently forming a Bull Flag on Daily.
RSI trend confirms there is room left to run to price target of $1.75.
Exit trade
At RSI 70 or higher.
At price of $1.75 or trade at your own risk.
While it would have been a good idea to exit the trade, I feel this trade is not finished.
My MARA Calls are cheap and expire 12/20. Stock is ridiculously cheap, but you need to hodl until BTC peaks for offloading.
We should have another entry for the big upcoming pop sometime in 2020.
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Disclosure - I am long MARA, GBTC, BTCUSD, GDX, and VIXY.
Short SPY and AAPL.
MARA - Update - Following BTC Accumulation MARA is highly correlated to spikes in BTC price. Options are cheap and so is stock.
WARNING - This stock is known to have 30%-100% gains in under a week and then massive selloff. Need to watch carefully.
I have purchased stock and options in the current zone during the last dip October. I am neutral biased for movement (but long Calls and stock).
If it turns down, risk is limited with smaller investment and I can jump ship.
Risk - 1
Reward - Almost 4
If it turns down, risk is limited with smaller investment.
Previous trendline from Nov. 5th needed to be dropped with recent minor BTC re-accumulation pattern.
Very interesting how the main wedge (bottom line 4 years, top line 6+ years) lines up about 1 month before BTC halving.
When BTC goes through halving, I am betting that price for both BTC and MARA should see a increase.
Please trade carefully here and use limited risk.
If MARA gets active, you can always PM me here for a chart update.
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Disclosure - I am long MARA, GBTC, BTCUSD, GDX, and VIXY.
MARA - Flashing BUY Signal on DailyMARA finally flashed a BUY for today's Daily candle.
The downward trend reached the bottom wedge line and turned like it should.
All indicators are turning Bullish.
Trade this stock carefully. It gives great returns in short time, but goes down quick. Timing is everything here.
If you get up 50%, 100%, then get out. Otherwise, you are risking giving back profits.
MARA follows spikes in BTC prices. If BTC price spikes, I suggest looking to take profits or see if BTC move will be extended for further MARA gains.
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Disclosure - I am long MARA, GBTC, BTCUSD, GDX, VIXY and short SPY.
MARA - From Outter SpaceSee below for 1st Chart in this series (Close Up View).
MARA ( Marathon Patent Group ) mirrors bitcoin price runs. Options or stock are cheap and profitable if timed correctly.
I see this going to $2.50+. It will be quick and short lived.
Last run up there were two entries to gain 50% and another 60% after first peak decline.
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not an advisor.
Disclosure - I am long MARA, GBTC , BTCUSD , GDX , VIXY and short SPY .
2nd Chart from First Post Today -
MARA - Coincides with BTC uptrendMARA (Marathon Patent Group) mirrors bitcoin price runs. Options or stock are cheap and profitable if timed correctly.
I see this going to $2.50+. It will be quick and short lived.
Last run up there were two entries to gain 50% and another 60% after first peak decline.
I will post another chart with "Outter Space" view. This is NOT a long term investment. This is a play on Technical Analysis, Pattern Analysis, and speculative future Bitcoin price.
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not an advisor.
Disclosure - I am long MARA, GBTC, BTCUSD, GDX, VIXY and short SPY.
MARA - Shows Bitcoin bullish breakout comingMARA - Marathon Patent Group - is a good proxy for BTCUSD and GBTC.
MARA operates bitcoin mining hardware and mirrors price action in bitcoin and GBTC (sometimes as a leading indicator).
During 2017 bullrun MARA was over $38. Current price is under $1.60.
The MARA chart shows that there is a bullish breakout coming from the falling wedge, which repeats in this chart.
The Fisher Transform just turned bullish indicating longer trend (bullish).
If last two pops were indicators for MARA, we may see a 20%+ increase in MARA and BTC / GBTC coming out of this falling wedge.
I am long Calls on MARA for December 20 2019. In April of 2020, I will start to average into Call Options for MARA at December 2020 expiry (when BTC bull run in full effect).
Some of these call options are $0.10 per contract or $10 to execute (CHEAP).
MARA: An iHnS has broken out and retested the neckline. An Leading Diagonal also formed. LD's target is slightly higher than iHnS target.
$MARA 20% SPIKE ON EARNINGS BEAT, MORE TO COME.MARA surprised the market today with a blow out quarter, cutting it's operating loss in half to $988,000 and posting a loss per share of $.16 cpmpared to $.64 in 2018.
Merrick Okamoto, Chief Executive Officer, stated, “We’re pleased to show significant financial improvement on a year over year basis including significant reductions in our operating costs, While recent improvements in the price of Bitcoin are clearly beneficial to our ongoing mining operations and should benefit our financial performance in our Q2, we continue to seek potential acquisition opportunities that we deem to offer the best opportunity for appreciation for our shareholders.”
We think this has a long way to run, will be on the watch-list for continuation tomorrow .
Company Description
Marathon Patent Group, Inc. is an IP licensing and commercialization company. It acquires and manages IP rights from a variety of sources, including large and small corporations, universities and other IP owners. Marathon Patent Group was founded on February 23, 2010 and is headquartered in Las Vegas, NV.
