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Bearish Moving Average Cross by Marathon Oil (MRO)

By James Quinn

Today, shares of Marathon Oil (NYSE:MRO) have fallen below their 10-day MA of $12.74 on a volume of 2.1 million shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, Marathon Oil share prices have been bracketed by a low of $11.56 and a high of $24.20 and are now at $12.45, 8% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has declined 0.2%.

SmarTrend recommended that its subscribers protect gains by selling shares of Marathon Oil on May 1st, 2019 by issuing a Downtrend alert when the shares were trading at $16.84. Since that call, shares of Marathon Oil have fallen 23.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses Marathon Oil

Ticker(s): MRO