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Marathon Oil Crosses Above its 10-day MA (MRO)

By James Quinn

Marathon Oil (NYSE:MRO) crossed over its 10-day moving average of $12.18 on a volume of 9.1 million shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, shares of Marathon Oil have traded between a low of $11.20 and a high of $19.28 and are now at $12.82, which is 15% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 1.5% while the 50-day MA has advanced 4.0%.

SmarTrend recommended that its subscribers protect gains by selling shares of Marathon Oil on February 7th, 2017 by issuing a Downtrend alert when the shares were trading at $16.09. Since that call, shares of Marathon Oil have fallen 25.2%. 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