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- 1 MARA stock volume trades below average and the price trades below the major 20 and 50-day daily moving averages.
- 2 Marathon Digital Holdings Inc. (NASDAQ: MARA) stock’s 52-week price range is between $3 – $19.
The MARA stock has a CMP of $8.46 and an intraday gain of 1.20%. The MARA stock’s average volume for the last 10 days is 25.842 Million and its current volume is 25.101 Million. The MARA stock has a float of 203.058 Million shares and a market cap of $1.778 Billion.
At the time of publishing, the price of Marathon Digital Holdings Inc. (NASDAQ: MARA) found recent support at $7 and is approaching to jump over 20 EMA soon. Therefore, if more buying volume assists the MARA price in surging upwards, stock may surpass major rejecting EMAs and might kickstart a rally.
The MACD indicates a bullish cross. The RSI is at 40.93 and has bounced off the 14 SMA which is at 31.32. The indicators in the MARA stock suggests positive signs on the charts.
Moreover, the stock ratings for MARA stock are positive and highly recommended based on 8 analysts who have evaluated the stock in the last three months. The 1-year price forecasts for the stock by 5 analysts range between $11.00 to $20.00.
MARA Stock Price Technical Analysis in 1-D Timeframe
According to the price action displayed on the charts, the MARA stock price rose from the $4.5 support level in December 2020. It reached a high of $83 in November 2021, making higher highs and lows.
It faced resistance and fell, due to investors taking out their profit upto of the period ending September 2021 quarter reports and led the stock to fell drastically which showed poor performance on the charts over the last two years. However, the stock showed recovery signs as the MARA price took support at $7 around the first week of October 2023.
Therefore, if the Marathon Digital stock manages to gain strong buying momentum and surges above the swing high, it can trigger a rally. The probable resistance levels are between $10 and $14.
Alternatively, if the stock faces resistance again and continues to fall below and breaks below $7, it could fall up to $5.
Financial Details of MARA Stock
MARA stock’s latest quarterly balance sheet for the period ending June 2023 reported total assets of $1.37 Billion and total liabilities of $762.99 Million. The debt-to-assets ratio is at 55.56%.
MARA stock’s latest quarterly earnings report for the period ending June 2023 displayed a revenue of $81.76 Million, with a net income of $19.13 Million, and a profit margin from the last quarter of -23.40%. This quarter, the reported revenue missed analysts’ estimates by $1.686 Million (2.02%).
Also, the MARA stock reported an EPS of $0.104 for the period ending June 2023, beating the analysts’ estimate of $0.057 by 81.72%. The next quarter’s revenue is estimated to be $107.726 Million and estimated EPS will be $0.119. The report will be released on November 15th, 2023.
However, MARA does not pay any dividends until now, and it has no plans to do so in the future. This might be a concern for investors who are looking for regular income from their investments. Therefore, MARA stock might not be very attractive to them.
Summary
Marathon Digital Holdings Inc. (NASDAQ: MARA) chart indicates that the traders and investors of the share price are bullish and positive on the 1-D timeframe. The price action shows a bullish outlook at the time of publishing. The technical analysis tools of the Marathon Digital stock price highlight upward signals and support bullishness.
Technical Levels
Support Levels: $7 and $5
Resistance Levels: $10 and $14
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
