The PEAD projected a Bullish outlook for $MRO after a Positive over reaction following its earnings release placing the stock in drift B with an expected accuracy of 80%.
An Idea for MRO stock, suggesting an inverse H&S formation, with only the right shoulder yet to form
This will result in a bearish move, yet once completed bullish movement should resume as it enters a huge sideways channel which I consider to be really bullish for price in the long run as it will want to break out to the upside
earnings watch 5/3:
AMD
MTCH
HLT
PFE
MRO
ABNB
SBUX
BP
LYFT
MSTR
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*3x lucky 7s of trading*
7pt...
Bought a weekly call option on MRO to hedge against market correction. Marathon Oil is one of the US’s largest oil producers. If Russia invades Ukraine, I believe it will absorb a large percentage of global oil supply, and American oil refineries will possibly receive help from US govt. to ensure we have adequate supply. This is a short term play for me to...
Goals 18.42, 16.87. Invalidation at 28.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that...
Marathon Oil Corporation operates as an independent exploration and production company in the United States and internationally. The company engages in the exploration, production, and marketing of crude oil and condensate, natural gas liquids, and natural gas; and the production and marketing of products manufactured from natural gas, such as liquefied natural...
showing the proposed contracting ending diagonal wave 5 within wave 5 of macro wave 5. Wave 5 within macro wave 5 began at $14.30. We finished a triangle b Friday and will get the final impulse next week. Get ready.
MRO/USOIL here approaching the 0.618 fib extension which is also the long term 0.5 retracement - a very common bear market continuation fib. This is a weak ABC and i would be surprised if it gets to the 1.
Although RSI has not yet rolled back it will probably form bearish or hidden divergence to signal downtrend incoming.
Pushing higher here but I think that is...
MRO appears to be completing a supercycle X wave.
From 2014 top MRO completed a 1:1 cycle ABC down to 2020 crash low, of which the B wave pierced a fakeout through the 200DMA before returning to the bear market.
And now MRO appears to be completing this X wave formed via a 1.618 primary ABC extension which is has risen all the way up to the previous cycle B wave...
MRO seems to be topping here at the weak fib 1.382, could struggle up to 1.618 @ $20 but starting to look less likely as it finds resistance under the trendline. Current rally likely to be wyckoff ST.
Plenty of bearish divergence on the weekly + MACD lines entangling.
Expecting a collapse back to lower trendline to hit a retracement fib depending on duration -...
We are in a calming periode of an intact upward trend now. But as long as the lows are rising and the highs do the same we can expect further higher prices towards the winter.
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%.
