MARATHON PETROLEUM CORP (NYSE:MPC) - A Strong Technical Setup for Breakout Traders

MARATHON PETROLEUM CORP (NYSE:MPC) has been identified as a potential breakout candidate by our technical screening process. The stock shows strong technical health and a well-defined setup pattern, making it worth a closer look for traders focused on momentum and consolidation breakouts.

Technical Strength

• Technical Rating of 8: MPC scores well above average, indicating a healthy uptrend. Both short-term and long-term trends are positive, reinforcing the stock’s upward momentum.
• Strong Moving Averages: The stock is trading above its 20-day, 50-day, and 100-day moving averages, with the 20-day and 50-day SMAs trending upward.
• Relative Performance: While MPC has outperformed 54% of all stocks over the past year, it remains a leader in its industry, beating 64% of peers in the Oil, Gas & Consumable Fuels sector.

Setup Quality

• Setup Rating of 9: The stock is consolidating within a defined range, reducing volatility and improving the likelihood of a breakout.
• Clear Support and Resistance: A key support zone lies between $160.11 and $164.83, while resistance sits at $166.79. A move above resistance could signal a new upward leg.
• Recent Pocket Pivot: A bullish volume pattern suggests accumulation, adding further confirmation to the setup.

For traders considering an entry, the suggested breakout level is $166.80, with a stop-loss just below support at $160.10. This represents a controlled risk of about 4% on the trade.

More breakout candidates can be found in our Technical Breakout Setups screener.

Disclaimer

This is not investment advice. The analysis reflects observations at the time of writing, and market conditions can change rapidly. Always conduct your own research before making trading decisions.