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S&P 500 Oversold StocksArchive - 3/15/2024 - Sign In to see current Signals. |
Marathon Oil Corp. (MRO) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | It was a fifth consecutive positive week for the Marathon Oil Corp. (MRO). During the week, the MRO gained 1.77 points, or 7.15%, and closed at 26.51 on Friday, March 15, 2024. It was the best weekly gain since October 13, 2023. MRO was trading at average weekly trading volume. MRO 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 MRO long-term trend chart] A long-term uptrend had started on April 1, 2020 at 3.02 and reached 33.42 on November 7, 2022. MRO gained -30.40 points, or -1006.62%, in 135 weeks. The chart has formed a Symmetric Triangle chart pattern. The price is near the trend support (26.49) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a long-term trend. Medium-term trend: [See MRO medium-term trend chart] A medium-term downtrend had started on November 7, 2022 at 33.42 and reached 20.57 on March 16, 2023. MRO lost 12.85 points, or 38.45%, in 18 weeks. The chart has formed a Symmetric Triangle chart pattern. The trend support level is at 22.05 and resistance is at 27.92. A Symmetric Triangle pattern represents the area of indecision, where the movement direction is questioned. Chart pattern analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric Triangle pattern in a medium-term trend. Weekly Technical Indicators: [See MRO weekly technical indicators chart] Weekly technical indicators are neutral. The weekly MACD line is above its signal line since March 1, 2024. The distance between MACD and the signal line is low, but getting bigger. Use the following link to access a MACD help. Short-term trend: [See MRO short-term trend chart] A short-term uptrend had started on January 18, 2024 at 21.81 and reached 26.70 on March 15, 2024. MRO gained -4.89 points, or -22.42%, in 57 days. Price is near the trend high. Daily Technical Indicators: [See MRO daily technical indicators chart] Daily Relative Strength Index and Williams' Percentage Range are overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index and Williams' Percentage Range or strongly overbought daily 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 links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help. The daily MACD line is above its signal line since January 24, 2024. This is an indication that the short-term trend is up. The price has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. 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.
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Daily Oscillators |
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Weekly Oscillators |
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Trading
Signals |
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Sector and
Industry |
Description |
Name |
Rank |
Sector |
Energy |
9 |
Industry |
Oil & Gas Exploration & Production |
57 |
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Daily Trend |
Description |
Value |
Direction |
Up |
Chart Pattern |
Uptrend |
Low |
22.06 |
Low Date |
02/05/2024 |
High |
26.70 |
High Date |
03/15/2024 |
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Weekly Trend |
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Description |
Value |
Direction |
Up |
Chart Pattern |
Uptrend |
Status |
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Resistance |
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Support |
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Low |
21.81 |
Low Date |
01/18/2024 |
High |
26.70 |
High Date |
03/15/2024 |
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Description |
Value |
Direction |
Down |
Chart Pattern |
Falling Wedge |
Status |
Broken Resistance |
Resistance |
20.21 |
Support |
19.59 |
High |
29.56 |
High Date |
10/19/2023 |
Low |
21.81 |
Low Date |
01/18/2024 |
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Quarterly Trend |
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Description |
Value |
Direction |
Down |
Chart Pattern |
Symmetric Triangle |
Status |
Valid |
Resistance |
27.92 |
Support |
22.05 |
High |
33.42 |
High Date |
11/07/2022 |
Low |
20.57 |
Low Date |
03/16/2023 |
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Description |
Value |
Direction |
Up |
Chart Pattern |
Symmetric Triangle |
Status |
Test Support |
Resistance |
27.92 |
Support |
26.49 |
Low |
3.02 |
Low Date |
04/01/2020 |
High |
33.42 |
High Date |
11/07/2022 |
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