Earnings were a beat and justified the positioning over the previous month.
Option traders continue to bet big on much greater advances in the stock.
Very reasonable 14 P/E ratio.
Good 3.22% yield
Average analysts recommendation BUY | $79 price target
Company profile
Marathon Petroleum Corp. is an independent petroleum product refiners, marketers and transporters...
There is a bearish Cypher forming on Marathon Petroleum Corp. If the price runs up to $63.65, with divergence as confirmation, there might be an opportunity for a profitable short position.
Trading Methodology:
1. An asymmetric bullish/bearish pennant is drawn using ascending and descending curved trend lines with a minimum of three price action touche points per line. The direction is determined by the previous trend.
2. The angle tool is applied from the earliest two trend touch points, beginning at the earliest touch point.
3. A trend-based...
$MPC is bucking the oil-down trend and has broken out above prior resistance (cyan line). Now, $MPC may run up into earnings on 7/25 to about 60. A standard vertical call spread is a great way to play that chance without taking much risk at all.
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...
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.
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.
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...
