MARA Trade on Jan 7, 2021 18:56 from iDrummer03: Tradervue User Stock Trades.

Playbook Trade
MARA
1/7/21 and 1/8/21
Stock below IPO price that begins targeting it's Important IPO-Technical-Levels.
Post Huge Move Continuation.

Trade Idea:
Day or two Swing Trade
Bitcoin Miner Stock
Bitcoin News has been a powerful catalyst with Bitcoins recent Price Action higher.
MARA ripped, while I happened to not be watching it. (Out Working) (Plumber!!!)
Average since I started watching it around $12-$14 Stock.
MARA went from $11 to $19 in about 24 hours. By the next morning it was opening around $20.
I have been learning to spot a type of pre large move move stocks make shaking out sellers almost.
Its a huge volatile day half day up half day down type of a zig zag. Like a slanted swaggy "M"
This is something I notice happens regularly before stocks make huge moves higher. Also, note this is on above average volume levels.
I look for a stock with at least 150 % more volume than the past 10 days and relative volume of at least 1.5 over the past 60 days.
Although i prefer higher relative volume levels like around 2+

Big Picture:
SPY turned the new year corner Making Nice all time highs During the Covid Issues and Stimulus is funding the market so much Bitcoin has began RIPPING HIGHER as a form of inflationary indicator and upon a very weak and still weakening dollar.
Bitcoin Miner MARA has been making moves matching bitcoin sympathetically.

MARA Stats:
RVOL :
1/6: .96
1/7: 1.65
1/8: 2.49
ATR: 2.63
Float: 45.7 Million
Market Cap 1.45 Billion
Short Float: 17.11% (Possible Squeezeable Sign)
Institutional Ownership: 5.4% (Maybe there's room for the Big Dogs to add? lol)

Technical Levels and Game Plan:
Once MARA broke above its previous Huge Sell Off Candle from 2018, 3 years ago.
I figured we would see another target.
MARA IPO 2013 @ $52 8 years ago.
IPO Quarter low: $31
31 holds stong support before giving out finally.
Next level of support becomes 20 then we move down to 10 range.
clear levels of doubling movement in my mind made it possible to see the potential for another doubling style move to happen.
I noticed MARA just before the close of after hours.
Grabbed 5 shares just before AH close.

Next Morning Price Targets were as follows:

R3: $30 (Longer Term Clear Important Technical Level)
R2: $24.37 ( Yesterday's High of Day)
R1: $22.90 / $23 psych
Yesterday's Close: $22.30
S1: $21.38 possible dip n rip area to buy in or add on
S2: $19.34 (Previous Day Wick touch down to 200 day moving average.) (must hold or trade fails. cover.)

MARA reached the 28 dollar level close to its resistances so i covered again because im not sitting at the desk all day like i wish.
however i should have held this trade because of the higher relative volume further adding confirmation towards my trade idea.
presenting itself into a trade to hold until it really tests its levels. important not to get impatient, (dont sell before these important levels get tested.)
also a potential trade to hold through end of day however because bitcoin makes me nervous i had a harder time on this trade.
Success however! and im seeing and learning more about huge potential movers.
should be holding all 5 to ipo price but im worried about bitcoin dropping out for a few days ruining this trade and scaring investors back off bitcoin miners if they become to common.
so im ok covering and holding a free share not worring about it!
Thanks SMB
LETS GOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Ill take any feedback i know you guys got.
im not shy
make me better.
Peace!
and
much Love
and God Bless SMB and us all!