Ready to Run
Marathon Digital (MARA) shares were upgraded by BTIG Research this morning with a price target of $27. Shares are bouncing at $17.50 at support from their bullish 50-day moving average.
The stock dropped from $27.50 to its current price after a “sell the news” move in the wake of last week’s Bitcoin ETF announcement. I like the stock at these prices.
These Airline Shares Are Grounded
Spirit Airlines (SAVE) shares were grounded yesterday after its merger with JetBlue (JBLU) was blocked by the Department of Justice’s challenge. Shares are trading at their Pandemic lows and should remain off your radar screen.
As a matter of fact, all the airline stocks should be grounded from your portfolio.
Steer Clear of These Chinese Stocks Ahead of the Chinese New Year
Baidu (BIDU) and JD.com (JD) shares are starting the day on a soft note as economic data from China continues to show weakness on the horizon.
These are two of the more heavily traded Chinese companies here in the U.S., so we should expect to see more dramatic selling pressure on these stocks as the “crowd” migrates from them. I’m targeting 10-15% lower prices on both stocks. You’ve been warned.
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About the Author
Chris Johnson (“CJ”), a seasoned equity and options analyst with nearly 30 years of experience, is celebrated for his quantitative expertise in quantifying investors’ sentiment to navigate Wall Street with a deeply rooted technical and contrarian trading style.