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
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...
Earnings tomorrow + very bullish news.
Marathon Petroleum announces agreement for $21B sale of Speedway (thefly.com)
Marathon Petroleum announced that it and certain of its subsidiaries have entered into a definitive agreement with 7-Eleven, a wholly...
This price move could indicate a change in the trend, and may be a buy signal for investors. Tickeron A.I.dvisor found 41 similar cases, and 33 were successful. Based on this data, the odds of success are 80%.
MPC in +6.37% Uptrend, advancing for three consecutive days on July 15, 2020
As a Bullish sign, keep an eye on this company's ticker for future growth....
Do you want to invest in an oil stock but not know which one to buy?
MPC relatively has the best fundamentals in my view compared to all big oil stocks (XOM, CVX, OXY, PXD, VLO, and etc.)
Also, the chart is showing a stable upward trend.
Oil price will and is already going up at an exponential rate.
One oil stock I will buy during the oil/economic recession....
three most important us refineries (marathon/valero/phillips66) vs wti/brent
interesting correlation since 2015 and fall in oil price due to last oil war (2014, opec vs shale)
the 3 companies refine half the daily barrels of the top 11 refineries in us
own more refineries than the next 8 companies of the top 11
according to date from january last year, dont...
MPC has recently retested prior support at the $58 level and broke down to bounce off the 200 day moving average, only to remount above the $58 level the very next day. This tells me that the 200 MA is strong support level paired with the $58 level. Looking for a push to the next level or resistance around the $62.5 level for a 6% move.