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Marathon Petroleum Corporation

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MPN trade ideas

MPC: Bullish Pennant, confirmed (30,71%)(31/1000)(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 200MA ascending 7- Golden cross circled in blue 8- Descending volume during pennant forming 9- Some volume during post forming Cons: 1- No volume increase at break out 2- ATR flat, less volatile Target price is 191,24$ Stay humble, have fun, make money! MAAX
NYSE:MPCLong
by LeLaf
MPC: Ascending triangle (77%) and (101%)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$. Still needs to break the 70$ resistance to confirm (Top right). The sector graph (Energy, bottom right) is building into an ascending triangle (not confirmed). It still has to break through resistance level at 460$ to confirm uptrend. If confirm, the sector as a whole may see a 77% increase. This, if confirm, will help MPC hit the price targets. Watching for now until a clear break in the sector shows. Stay humble, have fun, make money!
NYSE:MPCLong
by LeLaf
1
MPC - Rising WedgeOn 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 trend - including MPC. Both RSI and MACD are showing bearish indications. Keep in mind that the shown target is based on technical analysis only, and further downtrend is possible.
NYSE:MPCShort
by vf_investment
2
Marathon Reaches IntermissionWith an overlapping wave structure since its inception, Marathon has seemingly finished Wave 3 of its apparent diagonal wave. With Wave 3 being longer than Wave 1, it should also be expected for Wave 4 to be longer in price length than Wave 2. This makes it very probable for share price to see a 50% shave over the next couple-few years. A drop below the yellow line is nearly mandated currently (unless a new all-time high is secured). Holders should look for the most suitable exit in order to avoid more losses than necessary. (Wave analysis has been redacted from this marking however, wave-by-wave analysis will be tracked via link in bio).
NYSE:MPCShort
by DigitalSurfTrading
2
MPC - Still a long way to go to find harmony and balanceMPC (along with all refiners) appear considerably cheap to replacement value. MPC's chart pattern indicates it has placed in an upward sloping wedge formation. PetroChina building refining capacity to the tune of $70,740 per refined barrel. This is above the industry average of $32,800. With these new figures in place, industry replacement value offers a substantial upside. Cash Flow, Share Buy-Backs, Cash Levels are all strong!
NYSE:MPCLong
by The-Trend-is-the-Friend