• Return to Headlines

Marathon Petrole Bearish Moving Average Crossover Alert (MPC)

By James Quinn

Marathon Petrole (NYSE:MPC) crossed under its 10-day moving average of $52.63 on a volume of 2.6 million shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, Marathon Petrole share prices have been bracketed by a low of $43.96 and a high of $88.45 and are now at $52.42, 19% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has declined 0.2%.

SmarTrend recommended that subscribers consider buying shares of Marathon Petrole on August 30th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $49.36. Since that recommendation, shares of Marathon Petrole have risen 8.0%. We continue to monitor MPC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses marathon petrole

Ticker(s): MPC