Jrussell86
Long

MUR Inverted H&S

NYSE:MUR   MURPHY OIL CORP
Inverted HS within symmetrical triangle. Neckline has been penetrated and closed above 3% of NL showing pattern valid. After nice retrace within 4% of NL its ready to resume trend. Upside potentioal > 19% or $5.5 increase.
Dec 21
Comment: MUR has broken above neckline, however pattern has not been validated due to non decisive breakout. price must close 2-3% above neckline w/ decent volume. or gap up w/ high volume

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