MARATHON PETROLEUM CORP NYSE:​MPC

Clearly, moving averages show that MPC is headed towards increased gains. However, it is having a difficult time convincingly breaking through downward short-term resistance. Moreover, oscillators at the monthly chart suggest a sell as do oscillators for the daily chart, primarily RSI and momentum. However, if you look at the comparison between other ways to...

Entry 64.75 Target 79 Stop 59

Long strangle

Multiple time-frame downward allocation of oscillators & indicators

lego, most energy stocks printing bullish divergences on this timeframe and daily

Bearish divergence on the Weekly in an ascending wedge looks like the 2 year bull run is coming to a close. Left shoulder and half the head has been made Buy with caution over the next year.

L

MPC is looking to breakout to new highs on the daily and weekly charts from the wedge formation. Also has completed an inverse head and shoulders pattern. Looking to continue upward toward the $92 mark, with a stop loss at $83.50

$MPC Marathon Petroleum - Headed for a close above neckline resistance. Expecting continued follow through into next week. Medium term target $95-$100 area possible by next ER late October. Note: Informational analysis, not investment advice.

many pipes and refineries... what we need in the next few months.

A great reminder when posting an idea / realizing a setup has potential - chart duration should play a huge role in that lol. A lot can happen in 4 hours that can't happen in 30 min etc., I say this as I go over all old personal screenshots saved w/ this strategy to see what I missed, or if there was something shown for shorter duration charts that weren't...

LEVELS TO WATCH

Prices have not yet pushed through the 24% extension of the preceding range, which is necessary to confirm that a larger move higher is underway.

Very bullish action here as we clear LT resistance and a big volume push on Friday headline. Sustained RSI helps confirm breakout. Entry would be long half position with a tight stop around 63 based on the daily chart:

SHORT

MPC has been forming a flat base with a potential buy point of 54.69, but a more aggressive trader could enter at 53.65-53.75. Happy Trading! mpc

Watch for weekly close above he orange resistance line. RSI needs to continue to find strength. Watch that MACD Cross. Not sure how strong that signal is.

$MPC has an excellent long term uptrend signal at play here. If not long you should average in over 3 days at least, risking a drop to 43.42, or 3 daily average ranges down. Targets are 89.66 and potentially up to 143.09 in the long run, to be hit by or before Q4 2019. My mentor, Tim West has been adamant about $MPC's strengt, and so far he's been right. This...