Profile: Murphy Oil Corp. is a holding company, which engages in the exploration and production of oil and natural gas. It operates through the Exploration and Production and Corporate and Other segment. The Exploration and Production segment includes the United States, Canada, and all other countries. The Corporate and Other segment focuses on interest income, other gains and losses, interest expense, and unallocated overhead. The company was founded by Charles H. Murphy Jr. in 1950 and is headquartered in Houston, TX.
Analysis Idea: Market looks bullish on the Dominant/Primary Trend. It seems to be developing an extended Wave 3 of a Minor degree at the moment. The current correction pattern looks like a Triangle Structure. I will keep and eye on the price action to determine the Entry and Exit Points. I Will keep you posted.