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Marathon Digital Shows Strength Compared To Bitcoin As Traders Secretly Watch The Stock

Marathon Digital Holdings MARA opened at Friday’s low-of-day on Monday, in tandem with Bitcoin, which was declining almost 3%.On Friday, Marathon Digital was mentioned on Benzinga’s Stock Whisper Index as a company under the surface that warrants attention because traders are secretly watching the stock.Marathon Digital surged 54% between April 10 and Friday, blasting through the 200-day simple moving average (SMA) on the daily chart after consolidating under that level since March 17.The 200-day SMA is an important bellwether. Technical traders and investors consider a stock trading above the level on the daily chart to be in a bull cycle, whereas a stock trading under the 200-day SMA is considered to be in a bear cycle.The 50-day SMA also plays an important role in technical analysis, especially when paired with the 200-day. When the 50-day SMA crosses below the 200-day SMA, a death cross occurs, whereas when the 50-day SMA crosses above the 200-day, a bullish golden cross takes place.Want direct analysis? Find me in the BZ Pro lounge! Click here for a free trial.The Marathon Digital Chart: Despite Bitcoin trading near its low-of-day, traders came into Marathon Digital and bought the dip. The dip buyers caused Marathon Digital to bounce up from its low-of-day to print a bullish Marubozu candlestick, which could indicate higher prices wil come on Tuesday.
Marathon Digital has been trading in an uptrend since March 10, making a consistent series of higher highs and higher lows. The stock’s most recent higher high was formed on Friday at $12.27 and the most recent higher low was printed at the $7.65 mark on April 6.
If Marathon Digital bounces on Tuesday, Monday’s low-of-day will serve as the next higher low within the pattern, indicating the uptrend is likely to continue. If Marathon Digital falls to lose support at the eight-day exponential moving average, the stock could retest support at the 200-day SMA.
Bullish traders want to see Marathon Digital continue to hold above the 200-day SMA, which will eventually cause the 50-day SMA to cross above the 200-day. Bearish traders want to see big bearish volume come in and knock the stock down under the 200-day SMA.
Marathon Digital has resistance above at $14.66 and $19.51 and support below at $9.93 and $7.79.
Read Next: These 2 Ethereum Rivals Are Spiking Today, Outperforming Bitcoin
Photo via Shutterstock.
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BofA Securities maintains Amazon.com at ‘buy’ with a price target of $154.00
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Six people in critical condition, one still missing after Paris blast – prosecutor

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© Reuters. French firefighters and rescue forces work after several buildings on fire following a gas explosion in the fifth arrondissement of Paris, France, June 21, 2023. REUTERS/Gonzalo Fuentes
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PARIS (Reuters) – Six people remained in a critical condition and one person was believed still missing on Thursday, one day after a blast ripped through a street near Paris’ historic Latin Quarter, the city’s public prosecution office said. “These figures may still change,” prosecutor Maylis De Roeck told Reuters in a text message, adding that around 50 people had been injured in the blast, which set buildings ablaze and caused the front of one to collapse onto the street. Of two people initially believed missing, one has been found in hospital and is being taken care of, the prosecutor said, adding: “Searches are ongoing to find the second person.” Authorities have not yet said what caused the explosion, which witnesses said had followed a strong smell of gas at the site. The explosion led to scenes of chaos and destruction in the historic Rue Saint Jacques, which runs from the Notre-Dame de Paris Cathedral to the Sorbonne University, just as people were heading home from work. It also destroyed the facade of a building housing the Paris American Academy design school popular with foreign students. Florence Berthout, mayor of the Paris district where the blast occurred, said 12 students who should have been in the academy’s classrooms at the time had fortunately gone to visit an exhibition with their teacher.
“Otherwise the (death toll) could have been absolutely horrific,” Berthout told BFM TV. She said three children who had been passing by at the time were among the injured, although their lives were not in danger.
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4 big analyst cuts: Alcoa & DigitalOcean shares drop on downgrades

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Here is your Pro Recap of the biggest analyst cuts you may have missed since yesterday: downgrades at Alcoa, DigitalOcean, Teleflex, and Xcel Energy.InvestingPro subscribers got this news in rapid fire. Never be left in the dust again.Alcoa stock drops on Morgan Stanley downgrade Alcoa (NYSE:) shares fell more than 3% pre-market today after Morgan Stanley downgraded the company to Underweight from Equalweight and cut its price target to $33.00 from $43.00, as reported in real time on InvestingPro.The firm sees a significant decline in consensus estimates, and as negative earnings revisions materialize, it believes the stock will face downward pressure and underperform.The analyst’s estimates for EBITDA in Q2, 2023, and 2024 are substantially lower than the consensus. The stock is currently trading above its historical average. The firm said its downward revisions in earnings estimates and price target are attributed to the company’s high operating leverage to aluminum prices.DigitalOcean stock plunges on downgradePiper Sandler downgraded DigitalOcean (NYSE:) to Underweight from Neutral with a price target of $35.00. As a result, shares plunged more than 5% pre-market today.The company reported its last month, with revenue beating the consensus estimate, while EPS coming in worse than expected. Furthermore, the company provided a strong outlook, which was above the Street estimates.2 more downgradesTeleflex (NYSE:) shares fell more than 3% yesterday after Needham downgraded the company to Hold from Buy, noting that UroLift expectations may still be too high.According to Needham, their checks indicate that urologists are reducing their use of UroLift due to its retreatment rates, reimbursement cuts, and increasing use of competing procedures. This is also supported by their Google Trends data analysis, which indicates decreasing search interest in UroLift.BMO Capital downgraded Xcel Energy (NASDAQ:) to Market Perform from Outperform and cut its price target to $64.00 from $69.00 to reflect the lower-than-expected terms of the company’s regulatory settlement in Colorado.Amid whipsaw markets and a slew of critical headlines, seize on the right timing to protect your profits: Always be the first to know with InvestingPro.Start your free 7-day trial now.
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