Recommendation: Speculative Buy
Entry Date | Symbol | Recommendation | Entry Price (USD) | Target 1 (USD) | Target 2 (USD) | Holding Duration | Potential Upside |
---|---|---|---|---|---|---|---|
29 Nov, 24 | MARA | Speculative Buy | USD 26.92 | USD 29.34 | USD 31.5 | Same day | 17.0% |
Data Powered by EOD Historical Data (“EODHD”).
Marathon Digital Holdings, Inc. operates as a digital asset technology company that mines digital assets with a focus on the bitcoin ecosystem in United States. The company was formerly known as Marathon Patent Group, Inc. and changed its name to Marathon Digital Holdings, Inc. in February 2021. Marathon Digital Holdings, Inc. was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.
Enhanced Liquidity: Current Ratio of 4.00x in Q3 FY24 vs Industry Median of 1.74x
Decreased Credit Risk: Debt-Equity of 0.22x in Q3 FY24 vs 0.32x in Q3 FY23
Negative Profitability: Net Margin of -94.8% in Q3 FY24
Operating Inefficiency: Asset Turnover of 0.04x in Q3 FY24 vs Industry Median of 0.13x
Real Estate Market Cycles, Development Risks, Bitcoin Volatility, Regulatory Risks in Cryptocurrency, etc.
Entry Price | Support* | Target 1 | Target 2 |
---|---|---|---|
26.92 | 23.42 | 29.34 | 31.5 |
Data Source: REFINITIV, Analysis: StockNextt
*Support can be considered as an indicative stop-loss, and if prices move below that level on closing basis individuals may evaluate exiting the position depending on their risk appetite, previous holdings, and other factors considered. The support and resistance levels may need to be re-evaluated within 4-6 weeks’ time frame depending on the stock price movements from the date of recommendation on the stock.
On the daily charts, A is holding above key horizontal support, with a bullish candlestick pattern suggesting potential for further upside. Increased trading volume reinforces the positive momentum, indicating strong buying interest. The Relative Strength Index (RSI) at 65.26 signals continued bullish momentum without being overbought. The 21-period and 50-period Simple Moving Averages (SMAs) lie below, offering support. Key support levels are USD 25.04 and USD 23.42, while resistance levels are USD 29.34 and USD 31.50. These levels will guide future price movement.
As per the above-mentioned technical indicators analysis, a ‘Speculative Buy’ rating has been given to MARA Holdings, Inc (NASDAQ: MARA) at the closing market price of USD 26.92 as of November 28, 2024.
Data Powered by EOD Historical Data (“EODHD”).
Sector: Financial Services Industry: Capital Markets
Company | Change (USD) | Price (USD) | Trailing PE (x) | Forward PE (x) | Price Sales TTM (x) | Price to Book Value (x) | Enterprise Value to Revenue (x) | Enterprise Value to EBITDA (x) |
---|---|---|---|---|---|---|---|---|
MARA Marathon Digital Holdings Inc |
-0.62 3.11% | 19.34 | 13.29 | 6.17 | 11.13 | 2.67 | 11.05 | 9.16 |
MS Morgan Stanley |
-0.225 0.18% | 123.22 | 16.50 | 13.76 | 2.80 | 1.65 | ||
SCHW Charles Schwab Corp |
-0.315 0.42% | 74.00 | 22.86 | 17.39 | 6.14 | 4.28 | ||
GS Goldman Sachs Group Inc |
-2.2467 0.40% | 563.85 | 18.44 | 10.60 | 2.83 | 1.16 | ||
CIIHY CITIC Securities Co Ltd ADR |
- -% | 30.18 | 15.86 | 7.89 | 0.98 | 1.07 | 10.27 |
Data Powered by EOD Historical Data (“EODHD”).
Related Risks: This report may be looked at from high-risk perspective and recommendations are provided are for a short duration. Recommendations provided in this report are solely based on technical parameters, and the fundamental performance of the stocks has not been considered in the decision-making process. Other factors which could impact the stock prices include market risks, regulatory risks, interest rates risks, currency risks, social and political instability risks etc.
Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is November 28, 2024. The reference data in this report has been partly sourced from REFINITIV.
Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.
Target: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Target 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Target 2 may act as the crucial resistance level for the stock.
Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.
Disclaimer :
This report has been issued by StockNextt which has an Ontario Business Identification Number 1000958347 and British Columbia registration Number FM1051529 is a trade name under Kalkine Canada Advisory Services Inc. having Business Number 761925130BC0001. Kalkine Canada Advisory Services Inc. and StockNextt are collectively referred to as “StockNextt”, “we”, “us”, and “our”. The website https://stocknextt.com and associated pages are published by StockNextt. The information in this report and on the StockNextt website has been prepared from a wide variety of sources, which StockNextt, to the best of its knowledge and belief, considers accurate. StcokNextt has made every effort to ensure the reliability of information contained in its reports, newsletters, and websites. All information represents our views at the date of publication and may change without notice. The information in this report does not constitute an offer to sell securities or other financial products or a solicitation of an offer to buy securities or other financial products. Our reports contain general recommendations for investing in securities and other financial products. StockNextt does not offer financial advice based upon your personal financial situation or goals, and we shall not be held liable for any investment or trading losses you may incur by using the opinions expressed in our reports, publications, market updates, news alerts and corporate profiles. StockNextt does not intend to exclude any liability which it is not permitted to exclude under applicable law or regulation. StockNextt’s general advice does not in any way endorse or recommend individuals, investment products or services for your personal financial situation. You should discuss your portfolios and the risk tolerance level appropriate for your personal financial situation, with a professional authorised financial planner and adviser. You should be aware that the value of any investment and the income from it can go down as well as up and you may not get back the amount invested. Please also read our Terms and conditions for further information. Employees and/or associates of StockNextt and its related entities may hold an interest in the securities or other financial products covered in this report or on the StockNextt website. Any such employees and associates are required to comply with certain safeguards, procedures and disclosures as required by law.
Copyright © 2023 Krish Capital Pty Ltd. All rights reserved. No part of this website, or its content, may be reproduced in any form without our prior consent.