Marathon Digital Upgrades in RS Rating, But Investors Must Keep Their Eyes on Potential Buying Opportunities

On Thursday, Marathon Digital (MARA) experienced a significant upgrade in its Relative Strength (RS) Rating from 73 to 83. This proprietary measure of technical performance compares a stock’s price action over the past year to that of other stocks in the database. Stocks with an RS Rating of at least 80 often see significant climbs.

Despite this positive news, Marathon Digital’s stock has seen volatile movements in its price, with notable increases and decreases. Currently, the stock is below its 200-day moving average and not in a buying range. Investors should keep an eye out for potential buying opportunities such as a three-weeks tight or a pullback to the 50-day or 10-week moving average.

In its latest quarterly report, Marathon Digital reported no earnings growth but impressive sales growth of 452%. The next report is expected around May 8. The company is ranked No. 26 among its peers in the Finance-Investment Management industry group, with top-rated stocks such as Blue Owl Capital (OWL), Sprott (SII), and Apollo Global Management (APO).

For investors looking to refine their stock-picking skills, focusing on factors such as technical performance, earnings growth, and industry rankings can aid in making informed decisions. Additionally, tools like IBD’s ETF Market Strategy, IBD 50, and Long-Term Leaders can help identify growth stocks with strong potential for long-term investments.