A possible breakout setup was detected on MARATHON OIL CORP (NYSE:MRO) by our stockscreener. A breakout pattern is formed when a stock consolidates after a strong rise up. We note that this pattern is detected purely based on technical analysis and whether the breakout actually materializes remains to be seen. It could be interesting to keep an eye on NYSE:MRO.
ChartMill assigns a proprietary Technical Rating to each stock. The score is computed daily by evaluating various technical indicators and properties. The score ranges from 0 to 10.
Taking everything into account, MRO scores 8 out of 10 in our technical rating. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, MRO is showing a nice and steady performance.
ChartMill also assign a Setup Rating to every stock. With this score it is determined to what extend the stock has been trading in a range in the recent days and weeks. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. NYSE:MRO scores a 8 out of 10:
MRO has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 28.11. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 27.78, a Stop Loss order could be placed below this zone.
One way to play this would be to wait for the actual breakout to happen and buy when the stock breaks out above the current consolidation zone. A possible place for a stop loss would be below this zone.
This article should in no way be interpreted as trading advice. You should always make your own analysis and trade or not trade based on your own observations and style. The article is based purely on some technical observations.
Our Breakout analyzer lists more breakout setups and is updated daily.
The big buybacks of Chevron and Exxon are less impactful than they might seem.
Let's have a look at the top S&P500 gainers and losers one hour before the close of the markets of today's session.
When an investor thinks about ESG standards, usually they don’t think of an oil and gas exchange traded fund. Why is this fund ranked so high?
Marathon Oil (NYSE:MRO) declares $0.10/share quarterly dividend, 11.1% increase from prior dividend of $0.09.Forward yield 1.44%Payable March 10; for shareholders of record Feb.
/PRNewswire/ -- Marathon Oil Corporation (NYSE: MRO) announced today that the Company's board of directors has declared a dividend of 10 cents per share on...
The oil company has pulled ahead of the tech giant in this vital driver of shareholder returns.
U.S. oil prices broke out of a seven week rut Wednesday on expectations for strong demand in China. Oil stocks climbed.
Investors should consider these three high-growth stocks with strong bottom-line growth to kick off the new year right.