MRO looks to be breaking out of a GoNoGo Squeeze to the upside while in a “Go” trend. After a period of reduced volatility that caused the GoNoGo Oscillator to ride the zero line for some time, buyers appear to have returned driving momentum positive. If price can consolidate above $7.50 look for a new high to be made.
With more stimulus coming and economy starting to run back normal next year this is a nice trade brewing. We have entered at $5 and plan to start taking profits at around $35.
Risk/Reward is not spectacular but still good. If it gets to $5.60 we can add some more at a much better risk/reward. Stop is around $5.40.
All price levels are algo targets. Expect a reaction at every one of those. Green= Buy, possible dip target to reenter long Red= Sell, dip expected at those regions White= Has to break to confirm following price target
Marathon Oil Corp. engages in the exploration, production, and marketing of liquid hydrocarbons and natural gas. It operates through the following two segments: United States (U. S.) and International. The U. S. segment engages in oil and gas exploration, development and production activities in the U.S. The International segment engages in oil and gas...
Marathon Oil (MRO), has broken down trend lines ( 2 black dotted lines), and the average options trading volume is 10X above average, most active option contracts are : 30 October 2020 strike 4.5$ 15 January 2021 strike 6$. The stock could reach 6.19$, but have to clear the 4.35$ , 4.86$ hurdles before that. Buying at market price with a 10% stop from entry level.
Title says it all - looking for one last dip to $3 - long term hold Not Advice. #Patience
thoughts on this does it look correct ,close, or not even close leave some feed back
Possible Extended Gartley Pattern here. Add price divergence and we may have a short term bottom. Targets are market 50% position off at the first target S.
Marathon Oil Corp. engages in the exploration, production, and marketing of liquid hydrocarbons and natural gas. It operates through the following two segments: United States (U. S.) and International. The U. S. segment engages in oil and gas exploration, development and production activities in the U.S. The International segment engages in oil and gas development...
The the upside potential far exceeds the downside risk
Adding to existing call orders to MRO for January 2021 expiration.