The Long Investor

$MARA - RC -

Added 2023-12-29 18:56:32 +0000 UTC

$MARA's pull back has been aggressive today but we can not be too surprised as it had exceeded our expectations in a very short time period and ran from $6.74 to $31 in 10 weeks.

Anyone starting a position here over the last 2 weeks should be aware of this parabolic move and this is never somewhere to chase or buy.

I have said this over and over again and I can't help those who refuse to listen to this advice.

I am happy when people buy at the end of Wave 2 but I will not stand over and encourage anyone chasing a very extended Wave 3.

The pull back is coming down now and approaching the 0.38 Fib, there could be relief here and a slight bounce before pulling back further, the 200 Day MA on the 1hr chart is as low as $16.50 but we can see that it is moving up to oue blue line at $19.87

A hold at this level would be considered a good position to add.

I am not a fan of parabolic moves because of these aggressive pull backs, it's great when you are already in and you catch them running but when a stock jumps 100% in the matter of weeks, you need to consider an exit plan.

I did the same with $ADA when I got 100%, and transferred my entire position to $BABA and $PYPL