Technical Analysis of MARA
Technical Analysis of Marathon Holding (MARA). This is not a trading or investment recommendation & is only for educational purpose.
Disclaimer - I Don't own shares of Marathon Holdings (MARA).
1. The stock has been in a long trend downtrend as it has been trading below the 200 DMA
2. The downtrend stopped on 24-Jan-21 with buyers stepping in evidenced through huge volume & a green Marubozu followed by
some sideways movement & break of the downtrend line.
3. The bottom price point of $19.43 was re-tested on 28-Jan-21 creating a double bottom. Also signifying a failure by the sellers to
take prices lower than $19.43.
5.The stock then broke out of the consolidation area & a supply re-test on low volume was successful.
6. Price is now creating a short term higher high-higher low structure evidenced by formation of individual candles & no pivot points
yet.
7. The stock could face strong resistance at it's 200 DMA at $35.41. Closing above this point & staying higher would mean a change
into a long term uptrend.
8. A turn around & breaking the current immediate support in the region of $24 could push the stock back into consolidation. A break
below the consolidation low of $19.43 could lead to further downward movement in price.
All the best!
Disclaimer - I Don't own shares of Marathon Holdings (MARA).
1. The stock has been in a long trend downtrend as it has been trading below the 200 DMA
2. The downtrend stopped on 24-Jan-21 with buyers stepping in evidenced through huge volume & a green Marubozu followed by
some sideways movement & break of the downtrend line.
3. The bottom price point of $19.43 was re-tested on 28-Jan-21 creating a double bottom. Also signifying a failure by the sellers to
take prices lower than $19.43.
5.The stock then broke out of the consolidation area & a supply re-test on low volume was successful.
6. Price is now creating a short term higher high-higher low structure evidenced by formation of individual candles & no pivot points
yet.
7. The stock could face strong resistance at it's 200 DMA at $35.41. Closing above this point & staying higher would mean a change
into a long term uptrend.
8. A turn around & breaking the current immediate support in the region of $24 could push the stock back into consolidation. A break
below the consolidation low of $19.43 could lead to further downward movement in price.
All the best!
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