MARA update - it bounced on the $3MARA update - it bounced on the $3
Looks like we will make the leap before September.
MARA trade ideas
Marathon Patent Group Announces $23 Million Contract with BitmaiMARA: Marathon Patent Group, Inc.
2020-08-14 06:30:10
Marathon Patent Group Announces $23 Million Contract with Bitmain to Purchase 10,500 S-19 Pro Miners
$MARA #MARA bounce to $8.27!Here's my bullish case for Marathon Patent.
MARA is still overall bullish as Bitcoin is also overall bullish. We can see that the stock is retracing from $5.24 high and now is testing the 0.618 Fibonacci line $3.59. I believe this will be an after hour market move.
Mara is currently consolidating inside the demand zone of $4.23 and $2.86. Institutions are loading up on these levels as they prepare for $12,000 bitcoin case. Bitcoin has touched those levels twice in the last 2 weeks and is rejecting and recovering faster.
As we major resistance is slowly being chipped down. Marathon patent will follow bitcoin's move as the two assets are correlated.
Bitcoin's break of $12,000 will clearly break MARA's resistance of $5.24 and fill the void to $8.27 which is it's next major resistance.
Marathon: Do not get rekt!!This thing has float of about 17M -- which means that if the total volume is around 300M, then every person is passing around (and touched) the same shares 17 times that day. At least, that's how I see it in my mind. This is not Marathon oil.
MARA short dip before jumping higherMARA short dip before jumping higher
I try to get in and out of these quick moves or let ti ride. this thing wants to ride up for a while after a day or so of capitulation then the return to the rise followed by sort term capitulation.
I am just a painter who likes abstract shapes - my charts are noting more journal entries as paintings
Check out RIOT they are also a Crypto Mining Co.
See link below.
IF BTC had held 12k MARA would have jumped higher this morningIF BTC had held 12k MARA would have jumped higher this morning.
Now i am not sure.
Maybe they are dumping tech to buy the SPX
The Next time the BTC price jumps up and holds over the weekend MARA will jump with it on that Monday Morning.
Call me Crazy....But this may hit $40$MARA
If we are repeating the patterns of Bitcoins 2017 Bull Run our PT is in fact $25 plus. If Bitcoin can break $12,000 and hold both mara and bitcoin are going to the moon.
On December 3rd 2017 Bitcoin was $11,382.71
3 days later on December 6th it popped to $13,734.52
Based on Maras chart it's price was sitting right at $27.61 on December 11th 2017. If bitcoins run lasted from late November 2017 to 12/17/2017 with a high of $19,783.21..... Mara may just hit its price target and then some. lets freakin gooooo!
Analyst already have a price target set for $64....we'll see #bullish
UP 88.67% ON MASSIVE VOLUMEToday Marathon Patent Group went up 88.67% on more than 16 times average daily volume.
The stock is trading above its 200-day moving average line and its RISING 50-day moving average line.
TradingView's technical analysis summary for this stock is BUY:
www.tradingview.com
According to the Wall Street Journal, this stock has a consensus analyst rating of BUY and a price target of $64:
www.wsj.com
GLTA!
MARA: Higher price rejection after PPS spike and Gap upHigher price rejection after PPS spike
If the drop continues tomorrow, may confirm down trend.
May fill the gap
If confirmed:
PT = 2,22$
So we jumped early before earnings - buy this on the dipSo we jumped early before earnings - buy this on the dip
The cat is out of the bag.
This could go to $100 so get ready just keep buy it.
The rip up today should falter and fall - buy when it drops - it will be the last low price you see.
Check out my RIOT chart as it is a similar company.
MARA to $3 after taking a diveMARA has reached a stopping point and will crash back down all though August before leaping up in September only to fall again.
Understand that they are dealing in the Patients involving Block Chain and WEB 3.0
Imagine owning stock in a company that could own FTP or SMTP or DNS protocols or any other protocol of the internet today.
GOLDEN CROSSToday Marathon Patent Group's 50-day moving average line crossed above its 200-day moving average line, a strong BULLISH signal.
According to the Wall Street Journal, this stock has a consensus analyst rating of BUY and an average price target of $64:
www.wsj.com
According to CNN Business, the median price target for this stock is $64, which represents a +3,359.46% increase from the last price of 1.85.
money.cnn.com(NASDAQ%3AMARA)&text=The%201%20analysts%20offering%2012,the%20last%20price%20of%201.03.
TradingView's technical analysis summary is BUY:
www.tradingview.com
Today, the stock is up more than 8% on stronger than average volume.
GLTA!
With Bitcoin surging $MARA should followMARATHON PATENT GROUP ANNOUNCES PRICING OF $6.0 MILLION UPSIZED UNDERWRITTEN PUBLIC OFFERING OF COMMON STOCK at a public offering price of $0.90 per share.
The offering is expected to close on or about July 28, 2020, subject to satisfaction of customary closing conditions. Marathon has granted the underwriter a 45-day option to purchase up to an additional 999,999 shares of common stock, at the public offering price,
www.marathonpg.com
TWITTER:
HUGE FOMO:
Yates Investing
@yatesinvesting
I’m calling it $MARA is gonna be over 2$ in a month or so.
It’s a money losing company FYI. Only sustains itself through share issuance. Loser, imo. Of course now that I say this, it’ll spike. So, here’s your buy signal in my pessimistic post.
Riot is better??
Antonio Costa
@ACInvestorBlog
With Bitcoin surging $MARA should follow
$MARA #MARA take off to $3.50Bitcoin has risen more than 7% over the last week. Smashing $10,400 Monday.
As many expect stimulus package will arrive August and as D.C treats bitcoin as "money"
Many crypto traders in the United States say their next $1,200 stimulus payment will go ‘straight into Bitcoin.’
We'll see a clear breakout of $MARA as it has broken $1.39 resistance.
Its still startlingly clear that things with no debt - gold and Bitcoin (and most tech), trade incredibly well and anything private-sector debt-related such as banks or BBB equities trade like dogshit....fascinating market.
$MARAGet in at around $1. Had an offering at $.90 that is now closed. Mines Bitcoins. Expect 20-30% increase this week.
mara: 90 cents needs to hold to maintain bullish outlookNeed for this breakout to be confirmed and continue up. Needs to find support around 90 cents
Climbing Above 200-day Moving Average LineToday Marathon Patent Group climbed above its 200-day moving average line, a long-term BULLISH signal. It did so by gapping UP on strong volume.
According to the Wall Street Journal, this stock has a BUY recommendation and an average price target of $64:
www.wsj.com
According to CNN Business, this stock has a median price target of $64, which represents a +6,475.57% increase from the last price of 0.97.
money.cnn.com(NASDAQ%3AMARA)&text=The%201%20analysts%20offering%2012,the%20last%20price%20of%200.92.
GLTA!
Mara: pretty sure were range bound between here and 1.40 possible price action with later breakout. Thoughts?
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 "
