Marathon Petroleum has been running since late January, and now it’s pulled back.
The first pattern on today’s chart of the refinery stock is the March high of $203.02. The stock tested that peak today. Traders may watch to see if it can turn old resistance into new support.
Second, MPC has pulled back to the rising 21-day exponential moving average. It offered...
MPC is about to hit a Golden Genesis fib.
Recent attempt to break had fallen short.
Break of the Golden fib should pop to 232.
It is PROBABLE to orbit the Golden fib a few times.
It is POSSIBLE to reject and start a long correction.
It is PLAUSIBLE to break fib and run to next target.
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THIS IS NOT SHORT IDEA!!! Expecting a fall to 171,86 and rejection back to the final target. It takes time. Enter just after clear rejection on 4H chart. Then set conditional SL, if any two 4H candles closes below the SL zone, cutloss your trade. No rejection at 171,86 = no trade. Don´t fall to the trap by buying lower because the more favorable price. You will...
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Hello Traders ✌
After a careful consideration I came to the conclusion that:
- it is crucial to be quick in alerting you with all the...
Marathon Petroleum has moved sideways since the summer, but some traders may think the refinery stock will start running.
The first pattern on today’s chart is the April 2023 high of $138.83, a new record at the time. MPC rallied above it last summer and has remained there since. That may suggest a longer-term breakout is occurring.
Second, the stock has started...
(31/1000)
Bullish Pennant pattern on the weekly for MPC. Confirmed
30.71% possible gains.
MPC (Marathon) is part of the S&P Energy sector which has built into an ascending triangle. Not confirmed yet though.
Pros:
1- PPS above 50MA and 200MA
2- RS above 0 and climbing
3- R/R ratio above 5
4- 250RSI above 50 and climbing
5- 50MA above 200MA
6- Both 50MA and...
MPC (Marathon) following the overall trend in energy stocks. this particular stock is part of the S&P energy sector index.
The daily graph shows a confirmed ascending triangle with price target of 106.93$ (Left graph).
The weekly chart shows another ascending triangle on the weekly (not confirmed) with price target of 138.82$. Still needs to break the 70$...
On the chart, we can see a rising wedge holding its support, which we expect a breakout of.
Overall, the energy sector have been performing extremely well during the last year, as a result from the Ukrainian/Russian war, but has been dumped big time during the first quarter of 2023, and we therefore expect the rest of the stocks from the sector to follow this...
The PEAD projected a bearish outlook for $MPC after a positive over reaction following its earnings release placing the stock in drift B with an expected accuracy of 20%.
The PEAD projected a Bullish outlook for $MPC after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 50%.
