The market looks to be recovery today and the most interesting stocks to me were oil companies ( NYSE:XOM , NYSE:MRO , NYSE:COP ) which all exhibited morning open volatility spikes. The one I liked the most because it was at at 50% Retracement (see high timeframe below) is XOM so it fits my criteria for a long trade. I'll be looking for a retest of the last...
NYSE:MRO Possible Scenario: LONG Evidence: Price Action, This is a very good stock for your long term portfolio, $XLE is bullish too. TP1: 13.29$ TP2: 14.33$ TP3: 16.13$ Call options, strike 13$, 11/19/2021. Call options, strike 15$, 11/19/2021. *This is my idea and could be wrong 100%.
$MRO CMP $11.77 Possible breakout on weekly candle. Has to hold that support level. Possible target $14.05
C Wave confirmed and we are looking at the most likely extensions and Fib points of convergence. We believe this one is going to rise in the near future given the probabilities. Check DMI, Jurik's RSI for technical evidence of the fractal picture we are suggesting. We are not in the business of getting every prediction right, no one ever does and that is not the...
//Targeting Metrics// Bullish Elliot Wave will end at ~$20 on 01DEC2022 Marathon Oil has taken steps to improve earnings by cutting cost for the year 2021, that which is reflected after analyzing and comparing this company’s financials quarter-to-quarter. MRO currently benchmarks in the 91st percentile in the crude petroleum and natural gas sector. MRO’s share...
Trend Model shows bullish. Consolidation zone is likely to break upwards past 2020 highs.
NYSE:MRO TP1: 14.25$ Call options, Strike 15$, 07/30/21 *This is my idea and could be wrong 100%
Black Gold finally broke out from the 3 month cup handle pattern as mentioned last week! Although weekly chart was showing bearish, it was a bullish flag because the lows never broke. This week the momentum continues upward possibly in a big way. Extremely Bullish! Once it breaks 56.75, 59 will be the next target. XOM, SLB, NOV are yummy plays.
All price levels are algo targets. Expect a reaction at every one of those. Green= Buy, possible dip target to reenter long Red= Sell, dip expected at those regions White= Has to break to confirm following price target
Adding to existing call orders to MRO for January 2021 expiration.
record DRAW in oil inventory today. but oil went down with less demand forecast.
Incoming +6% until MRO hits 5.80$ Resistance
MRO is currently displaying one of the strongest bull flag in the market today. It has been above the 50 day MA for a long time and never dipped below while everyone took profits on the QQQs today. Don't get tricked into the bear trap. Load up on MRO for the nice ride.