Important Levels for quick trading opportunitiesImportant levels for quick trading opportunities. I have marked the resistance and support levels in 15 m timeframe.
MARA trade ideas
Important Resistance and Support levels for MaraFibo levels are respected earlier. Let's see if the Fibo levels are respected this time around.
I have marked the important levels for Mara.
This is for educational purpose only.
MARA broke out with volumeMARA has given breakout of the congestion zone. Small position, will add more if trend starts to develop.
Technical Analysis of MARATechnical 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!
Sunday Prep 8/29 - $MARA Crypto-related equitiesRemember how I ALWAYS remind you all that I don’t trade crypto, but I trade crypto-related equities? Yep. Here ya go. Action has looked really nice on this one as of late. Will be watching for early weakness to scoop. A 50% retrace of Friday’s move puts us right into the highs from Thursday around 38.5. There’s a chance any morning flush might not quite get there and instead may bounce off that annual pivot around 39. I very well may start there and be ready to add if it continues down towards my next area. Make sure you have the $BTC chart up when you trade any of these names as they will be very correlated.
