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  • Swing Trade Idea (MARA) – July 9, 2024

    Jul 09, 2024 Swing Options Tips Comments Off on Swing Trade Idea (MARA) – July 9, 2024

    Our bearish trade for Tuesday, July 9th is Marathon Digital Holdings Inc (MARA). MARA is part of the Technology Sector, which traded into the top of an uptrend channel and performed at 8.64% over the last month. MARA underperformed relative to its sector over the last month at -7.45%.

    MARA is pulling back from a long-term area of resistance at $22, and further downside is likely. With the Technology Sector trading at the top of a critical level and MARA currently having declining strength, we expect to see a downside target of $15 during the course of this trade.

    As a close, if MARA were to trade above $21 for multiple days, this would invalidate our analysis and we will consider cutting losses on the trade. We will also consider cutting losses on this options trade if the value of the vertical spread moves below $1.20.

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