With markets expected to rally higher, let’s take a quick look at some of the top stocks to consider heading into 2025.
Marathon Digital (MARA)
One of the best ways to invest in Bitcoin is by buying mining stocks, like Marathon Digital (MARA). For one, MARA typically runs higher with Bitcoin. Two, with Bitcoin expected to rally as high as $100,000 in 2025, MARA could easily soar to higher highs.
Analysts at Bernstein say Bitcoin could rally to $200,000 next year.
Three, the company just cited a higher hash rate as the key reason why the company was able to increase its production in April.
In fact, according to MARA’s Chairman and CEO, Fred Thiel, “October was our best month of bitcoin production since April’s halving event as uptime remained strong and we grew our energized hash rate to 40.2 EH/s, a 14% increase over September.”
Symmetrical triangles are great patterns to trade. A symmetrical triangle is a continuation pattern that narrows until it finally erupts in a breakout. The best patterns have five legs, and each leg is smaller than the preceding leg. A move beyond the leg 4 high or low suggests that the market is ready for a breakout. Since it’s a continuation pattern, we expect the market to break out of the triangle the same way it came in. This symmetrical triangle in the Canadian Dollar resulted in a major breakout. The triangle took a long time to form. The longer a market goes sideways, the bigger the breakout can be. We can estimate a target for the pattern by measuring the width of the first leg and adding that to the leg 4 high, if the pattern is bullish, or subtracting it from the leg 4 low, if the pattern is bearish.
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The first profit opportunity we will review is in CNTA, or Centessa Pharmaceuticals plc. CNTA is a clinical-stage company employing its innovative asset-centric business model to discover, develop and ultimately deliver impactful medicines to patients.
If the monthly chart shows that CNTA closed above the moving average and gave the current buy signal in April 2023. At that time the price was below 5. The current price is 17.91. The next targets are 22 and 25.
The daily chart shows that CNTA more than doubled in price from the June low until the September high. CNTA has been going sideways since then. Sideways trading in a bull market is usually followed by a further advance.
We recommend buying CNTA stock at the current price level.
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