MARA Stock: A Patent Holding Company, Parent Company of Uniloc, Known as the Patent Troll Company
Today, MARA stock price is 23.33 USD with a volume of 4,749,051. Its day range between 23.30 USD – 24.79 USD. MARA stock price was a maximum of 57.75 USD and a minimum of 0.90 USD within 52 weeks. The average volume of the stock is 14,890,868 and it is ranked 2.321B in the MarketCap listings. The target point of MARA stock price at the end of 1 year is 48.69 USD.
Marathon Digital Holdings Inc is a digital asset technology company that mines cryptocurrencies. The company focuses on the blockchain ecosystem and the production of digital assets in the United States. The company’s previous name was Marathon Patent Group Inc. It changed its name to Marathon Digital Holdings Inc in February 2021. They founded the company in 2010 and are headquartered in Las Vegas, Nevada.
MARA Stock Movements
MARA stock price fell 4.70% on the last day. The price dropped from $24.48 to $23.33. Today is the 11th day of its fall in a row. During the day, the stock fluctuated 6.46% from the day’s low of $23.30 to a one-day high of $24.80.
The price has dropped every day for the past 10 days. In total, it fell 23.98% for this period. Volume increased by 52,000 shares as the price fell. This is not a good technical analysis result and can be an early warning risk. In total, 5 million shares were traded for approximately $109.46 million.
The stock is in a very broad and falling trend in the short term. We are seeing further bearish signals within this trend. Considering the current short-term trend, the stock could drop 13.61% over the next 3 months. It can also hold a price between $14.00 and $26.73 at the end of this process.
What Do Technical Signals Say About the Stock?
When we examine the MARA stock chart, it is almost impossible for us to get a positive result technically. MARA stock does not have positive signals both in the short term and in the long term. Both have sell signals from averages. In addition, there are many more signals that give a negative forecast for the stock. Also, the long-term average is above the short-term average. Therefore, there is a general sell signal from the relationship between the two signals.
On the upside, we see some resistance at the $25.89 and $27.44 levels. A break above any of these resistances turns to sell signals into buy signals. We received a sell signal from the pivot peak on June 29, 2021. On top of that, it has dropped 26.84% so far. It may experience further declines until a new low pivot. MARA stock currently has a sell signal at the 3-month Moving Average Convergence Divergence. Volume rose yesterday as prices fell. Even when volume and price are moving down while moving together, that’s not a bad sign, but parting ways is a bad signal. It is an early warning and warns us to be careful with this stock.
Support and Volatility
MARA stock finds support at $23.08 from accumulated volume when we examine its chart. We expect an upside reaction as we test the support so we may find a buying opportunity at this level.
This stock can move to extremes during the day. Also, with a broad forecast range from the Bollinger Band, this stock is a high-risk investment. During the last day, the stock has moved between the maximum and minimum at $1.50 and 6.46%. Last week, that rate was 6.56%.
Should I Buy MARA Stocks?
We have a few negative signals for MARA stock. In addition, this stock is in a very wide and falling trend. Therefore, we do not think that it will show a strong performance in the upcoming period.
When we look at the technical analysis, there are many small negatives. Due to these negative signals the stock has, analysts could not determine stop-loss for this stock.