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Oil & Gas Refining & Marketing Industry Stocks Technical Analysis - MPCArchive
- 4/19/2024 -
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Marathon P (MPC) Technical Analysis
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| Summary:
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| | It was the negative week for the Marathon P (MPC). During the week, the MPC dropped -12.39 points, or -5.93%, and closed at 196.38 on Friday, April 19, 2024. Weekly volume was -35% below average.
MPC is a member of Energy Sector. Energy is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See MPC long-term trend chart]
A long-term uptrend had started on July 19, 2021 at 50.19 and reached 221.11 on April 5, 2024. MPC gained -170.92 points, or -340.55%, in 141 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (131.83) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See MPC medium-term trend chart]
A medium-term uptrend had started on December 7, 2023 at 140.98 and reached 221.11 on April 5, 2024. MPC gained -80.13 points, or -56.84%, in 17 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 184.90 and resistance is at 197.73. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a medium-term trend.
 Weekly Technical Indicators: [See MPC weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.
The weekly MACD line is above its signal line since January 26, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.
 Short-term trend: [See MPC short-term trend chart]
A short-term downtrend had started on April 5, 2024 at 221.11 and reached 193.74 on April 18, 2024. MPC lost 27.37 points, or 12.38%, in 13 days. The price is now at the 9.65% retracement level.
 Daily Technical Indicators: [See MPC daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Williams' Percentage Range and Lane's Stochastic. Use the following link to access Williams' Percentage Range help.
The daily MACD line is below its signal line since April 10, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term downtrend is strong.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
 Candlestick pattern: [See MPC candlestick chart pattern]
On Friday the chart has formed a Bullish Harami Cross Candlestick pattern. A Bullish Harami Cross pattern occurs in a downtrend, it shows that the market is starting to sever itself from the prior downtrend. The reliability of the Bullish Harami Cross pattern is low. Use the Technical Stock Screener to see the list of stocks that had a Bullish Harami Cross Candlestick pattern during the last week.
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