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Watch for Continued Gains in Shares of Marathon Oil (MRO)

By Nick Russo

Shares of Marathon Oil (NYSE:MRO) traded today at $21.90, breaking its 52-week high. This new high was reached on below average trading volume as 1.6 million shares traded hands, while the average 30-day volume is approximately 14.2 million shares.

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.

Potential upside of 2.3% exists for Marathon Oil, based on a current level of $21.89 and analysts' average consensus price target of $22.39. Marathon Oil shares have support at the 50-day moving average (MA) of $17.68 and additional support at the 200-day MA of $15.44.

In the past 52 weeks, shares of Marathon Oil have traded between a low of $10.55 and a high of $21.90 and are now at $21.89, which is 107% above that low price. The 200-day and 50-day moving averages have moved 1.52% higher and 3.79% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Marathon Oil on April 5th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $16.48. Since that recommendation, shares of Marathon Oil have risen 30.0%. We continue to monitor MRO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows Marathon Oil

Ticker(s): MRO