Mid-Cap

One NASDAQ-Listed Blockchain Stock Trading Near Resistance Level – MARA

February 15, 2024 | Team Kalkine
One NASDAQ-Listed Blockchain Stock Trading Near Resistance Level – MARA

MARA:NASDAQ
Investment Type
Mid - Cap
Risk Level
Action
Rec. Price (US$)

Company Overview: Marathon Digital Holdings (NASDAQ: MARA) is a company specializing in digital asset technology, primarily engages in the production or mining of digital assets with a focus on the blockchain infrastructure and the creation of digital assets.

As per the previous recommendation on MARA on 9 February 2024, a ‘Speculative Buy’ rating was given on the stock at USD 20.717, and noted below are the details of support and resistance provided in the previous report:

Recommendation Summary as on February 9, 2024

 MARA Daily Chart

Considering the target levels achievement, current trading levels and associated risks, it is prudent to book profits at the current levels. Hence, a ‘Sell’ rating has been provided on the stock at the current market price of USD 30.31 as of February 15, 2024 (7:15 am PST). 

Note 1: Past performance is neither an indicator nor a guarantee of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is February 15, 2024. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: Dividend Yield may vary as per the stock price movement.  

Technical Indicators Defined: -

Support: A level at which the stock prices tend to find support if they are falling, and downtrend may take a pause backed by demand or buying interest.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and uptrend may take a pause due to profit booking or selling interest.

Stop-loss: In general, it is a level to protect further losses in case of any unfavourable movement in the stock prices.



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