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Marathon Petrole Crosses Above its 10-day MA (MPC)

By James Quinn

Today, shares of Marathon Petrole (NYSE:MPC) have crossed bullishly above their 10-day moving average of $19.07 on a volume of 4.3 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, Marathon Petrole share prices have been bracketed by a low of $15.26 and a high of $69.65 and are now at $21.11, 38% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 5.2% while the 200-day MA has slid 0.8%.

SmarTrend recommended that its subscribers protect gains by selling shares of Marathon Petrole on February 27th, 2020 by issuing a Downtrend alert when the shares were trading at $49.30. Since that call, shares of Marathon Petrole have fallen 57.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses marathon petrole

Ticker(s): MPC