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Marathon Oil (MRO) Breaks Through Support at $14.99

Apr 21, 2017 (SmarTrend(R) News Watch via COMTEX) --

Shares of Marathon Oil (NYSE:MRO) opened today below their pivot of $15.15 and have already reached the first level of support at $14.99. Analysts will be watching for a cross of the next downside pivot targets of $14.89 and $14.63.

There is potential upside of 47.6% for shares of Marathon Oil based on a current price of $15.01 and an average consensus analyst price target of $22.14. The stock should find initial support at its 200-day moving average (MA) of $14.19 and further support at its 50-day MA of $11.58.

In the past 52 weeks, shares of Marathon Oil have traded between a low of $6.52 and a high of $31.53 and are now at $15.01, which is 130% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 1.5% while the 50-day MA has advanced 4.0%.

SmarTrend recommended that its subscribers protect gains by selling shares of Marathon Oil on February 7th, 2017 by issuing a Downtrend alert when the shares were trading at $16.09. Since that call, shares of Marathon Oil have fallen 6.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Write to Chip Brian at cbrian@mysmartrend.com

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