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Marathon Oil: New 52-Week Low Set Today (MRO)

By Shiri Gupta

Shares of Marathon Oil (NYSE:MRO) traded at a new 52-week low today of $11.23. Approximately 3 million shares have changed hands today, as compared to an average 30-day volume of 26.2 million shares.

In the past 52 weeks, Marathon Oil share prices have been bracketed by a current low of $11.23 and a high of $19.28 and are now at $11.29. The 200-day and 50-day moving averages have moved 1.52% lower and 3.97% higher over the past week, respectively.

Marathon Oil (NYSE:MRO) has potential upside of 76.7% based on a current price of $11.29 and analysts' consensus price target of $19.95. The stock should run into initial resistance at its 50-day moving average (MA) of $11.58 and subsequent resistance at its 200-day MA of $14.19.

Marathon Oil Corporation is an independent international energy company. The Company engaged in exploration and production, oil sands mining, and integrated gas. Marathon Oil serves customers globally.

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 29.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows Marathon Oil

Ticker(s): MRO