Large Volume of Big Money Calls in the $71 and $72 Strike Calls expiring on 1/14. Some were placed after the Market closed yesterday but the large bulk of them were just placed. This is not trading advice, just reporting on large call volumes.
MPC primed to go back to ATH over the next year.
MPC continued its trend of beating earnings 4 quarters in a row. Even though this time it was slightly less than expected, the stock dropped slightly, but only to the next Fibonacci level, which also happens to be the lower bound of the parallel channel it finds itself in. Some positive momentum and a high oil price...
Trend Analysis
The main view of this trade idea is on the 2-Hour Chart. The stock MPC appears to have broken out from a symmetrical triangle setup, with the resistance line making lower highs of 65.30 and 60.50 and the support line making higher lows of 50 and 53.30. The stock broke 2 levels of resistance, one at the resistance trend line of the symmetrical...
Marathon Petroleum has been quietly sitting below resistance, and now could be approaching a breakout.
The first important feature on the oil refiner’s chart is Thursday’s pullback to its 50-day simple moving average (SMA). Buyers immediately defended this level, which MPC battled for five weeks in August and September.
It’s also noteworthy that prices bounced...
Stock above EXMA 200 and still in uptrend Stock is making higher low and tests the EXMA 13 and EXMA 34 So you can buy target 65.02 stop loss 53.62 Good luck
MPC is forming the right shoulder of a Head & Shoulders trend reversal pattern.
Company in its latest earnings call has $9B planned for stock buyback at opportunistic prices. The buyback should mitigate downward trend as indicated by bearish Head & Shoulders pattern. Price should breach the previous shoulder high of $60.02.
Marathon (MPC) is flashing a short term and long term bearish harmonic patterns
Specifically a Bearish Crab (short term) and Bearish Bat (long term),
Ideally, we need a little longer extension for the crab say the $65.50 area.
Crab patterns also can extend further than expected,
I have also overlaid a USOIL plot. Directionally certainly a reasonable fit.
I...
I like Marathon Pete to $70. On May 14th (TODAY), they announced a deal to sell 3,900 speedways to 7-Eleven and a $10bil stock buyback. Even with the supposed Anti-Trust crackdown that came about mid-day, the large stock buy back in it of itself is a catalyst to drive this higher. If there are no anti-trust issues, I think we have another leg higher
MPC call credit spread
Sold 56, bought 56.50, 2 DTE, 19% ROI
Larger decline removed demand
Sideways in a channel, generally trending down, so with trend in a channel
Most recent decline penetrated half way into last strong demand
Not entirely ideal, because of the liquidity search spike up into 55.28 on the decline, but the spread is above 1 supply and into the...
Noticing a slight head and shoulders pattern forming with negative divergence no Marathon Petroleum. Also, some volume today in the April 16 $50 strike puts. Potential downside to $46.
Hey people, MARATHON PETROLEUM CORP is in a bullish momentum with a low purchase volume made and a hammer candle. On the TIMEFRAME M1 we see a hammer candle with a large volume of purchases exchanged at the end of the session, it is ready to breakout a stabilization zone for arrival in another. Great likelihood to move towards the last precedent above with a...
I purchased calls for MPC this past Friday.I will add more on Monday for a short swing. The Energy Information Administration reported Thursday that U.S. crude inventories rose by 2 million barrels for the week ended Sept. 4, on the heels of six consecutive weekly declines. That compared with an average forecast by analysts polled by S&P Global Platts for a fall...
Bearish Pennant formed out of a 2-month correction.
Target price set at new potential 2-month Support bounce. If we break through this new support line, rather than bouncing at $33.47, there is a possibility to hit a 2-year downtrend support line at $23.71.
- Historical Downtrend (1 year)
- RSI and STOCH below 50
- MACD below Signal
Suggested Entry...
Clear uptrend Support with a Bullish Pennant forming and price about to break-out.
Target price set at a new potential resistance line. Once broken, it might have the potential for a greater run.
- 5-month uptrend
- RSI above 50
- STOCH approaching 50
- MACD above Signal
Suggested Entry $39.35
Suggested Stop Loss $38.61
Target price $41.72
Note that I tend...
