In-Depth Technical Analysis of MARATHON OIL CORP.

Our stock screener has flagged MARATHON OIL CORP (NYSE:MRO) as a potential breakout candidate. This occurs when the stock shows signs of consolidation after a notable upward trend. While we can't predict the actual breakout, it's worth monitoring NYSE:MRO for potential movement.

Deciphering the Technical Picture of NYSE:MRO

Every day ChartMill assigns a Technical Rating to every stock. The score ranges from 0 to 10 and is determined by evaluating multiple technical indicators and properties.

Overall MRO gets a technical rating of 8 out of 10. Both in the recent history as in the last year, MRO has proven to be a steady performer, scoring decent points in every aspect analyzed.

• The long term trend is positive and the short term trend is neutral. The long term trend gets the benefit of the doubt for now.
• Looking at the yearly performance, MRO did better than 88% of all other stocks.
• In the last month MRO has a been trading in the 25.73 - 27.68 range, which is quite wide. It is currently trading near the high of this range.
• MRO is an average performer in the Oil, Gas & Consumable Fuels industry, it outperforms 64% of 217 stocks in the same industry.
• MRO is currently trading in the middle of its 52 week range. This is in line with the S&P500 Index, which is also trading in the middle of its range.

For an up to date full technical analysis you can check the technical report of MRO

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 8:

Besides having an excellent technical rating, MRO also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 27.40. Right above this resistance zone may be a good entry point. We notice that large players showed an interest for MRO in the last couple of days, which is a good sign.

How can NYSE:MRO be traded?

A breakout opportunity may arise when the stock surpasses the current consolidation zone and reaches new highs. Traders often wait for this breakout before considering buying the stock. To manage risk, a stop loss order could be placed below the consolidation zone to limit potential losses.

Please note that this article should not be construed as trading advice. The information provided is solely based on automated technical analysis and serves to highlight technical observations. It is important to conduct your own analysis and make trading decisions based on your own judgment and responsibility.

Our Breakout screener lists more breakout setups and is updated daily.

Disclaimer

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents observations created by automated analysis but does not guarantee any trading or investment outcomes. Always trade responsibly and make independent judgments.