An Update on $MARA

The last time I wrote about this stock was here. In that article, I called for a 60% rally in the stock, and we got that.

From that high, it has collapsed 90%, but I think things are about to get interesting.

Of all the stocks I take a look at from time to time, perhaps none has made a cleaner impulse wave than this one. From the COVID crash low, there’s a clear 5 waves up, 3 waves back. target is the orange box.

No, I cannot explain why it would do this, but I think it is going to do it.

MARA


Note: When articles are first posted, most of them are made available only to my Patreon supporters (I do try to publish some public posts on occasion). Over time (usually after a period of a few months), I make all of the work public. To gain access to my work when it is produced, please consider becoming a patron. More information may be found on my About page and on my Patreon page. In a nutshell, Tier 1 members ($20/mo.) get access to the articles, Tier 2 members ($35/mo.) get access to those, plus counts on about 20 other instruments, plus Discord server access.


A Simple Argument in Defense of 60% Upside on $MARA

On one analysis, we can see, plain as day on $MARA, two distinct highs from the March 2020 low. Regardless of how you want to count it internally, it has the appearance of two peaks. And whether we like Elliott Wave Theory or not, it is hard to deny the very basic tenet: the market impulses in five waves and corrects in three. If this count is correct, we should see one more high. How high will it go? I don’t know, but we know that the prior high should be breached, and so that gives us a juicy target to aim for and it’s 60% above us, despite what the distorting effects of log scale might make us question on this chart.

MARA

Read more “A Simple Argument in Defense of 60% Upside on $MARA”


Note: When articles are first posted, most of them are made available only to my Patreon supporters (I do try to publish some public posts on occasion). Over time (usually after a period of a few months), I make all of the work public. To gain access to my work when it is produced, please consider becoming a patron. More information may be found on my About page and on my Patreon page. In a nutshell, Tier 1 members ($20/mo.) get access to the articles, Tier 2 members ($35/mo.) get access to those, plus counts on about 20 other instruments, plus Discord server access.