A technical analysis of MARATHON OIL CORP.

We've identified MARATHON OIL CORP (NYSE:MRO) as a potential breakout candidate based on our stock screener's analysis. This breakout setup pattern suggests that after a strong uptrend, the stock is currently consolidating, potentially signaling a continuation of the trend. Keep an eye on NYSE:MRO for further developments.

Technical Analysis Observations

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.

Overall MRO gets a technical rating of 8 out of 10. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, MRO is only an average performer.

• The long and short term trends are both positive. This is looking good!
• In the last month MRO has a been trading in the 25.03 - 26.99 range, which is quite wide. It is currently trading near the high of this range.
• Prices have been consolidating recently, this may present a good entry opportunity.
• When comparing the yearly performance of all stocks, we notice that MRO is one of the better performing stocks in the market, outperforming 78% of all stocks. However, this relatively good performance is mostly due to a recent big move.
• MRO is an average performer in the Oil, Gas & Consumable Fuels industry, it outperforms 59% of 217 stocks in the same industry.
• MRO is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so MRO is lagging the market slightly.

Our latest full technical report of MRO contains the most current technical analsysis.

Why is NYSE:MRO a setup?

Next to the Technical Rating, the Setup Rating of a stock determines to which extend the stock is consolidating. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. For NYSE:MRO this score is currently 9:

MRO has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 26.53. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 26.39, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

How can NYSE:MRO be traded?

A breakout could materialize when the stock breaks out to new highs above the current consolidation zone. One could wait for this to happen and buy when this happens. A stop loss could be placed below the consolidation 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 screener lists more breakout setups and is updated daily.

Keep in mind

This article should in no way be interpreted as advice in any way. The article is based on the observed metrics at the time of writing, but you should always make your own analysis and trade or invest at your own responsibility.