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After Yesterday's Rally of 4.89% Shares Could Potentially Pullback

By David Diaz

Marathon Oil (NYSE:MRO) traded in a range yesterday that spanned from a low of $20.85 to a high of $21.68. Yesterday, the shares gained 4.9%, which took the trading range above the 3-day high of $20.86 on volume of 12.8 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Marathon Oil share prices have been bracketed by a low of $10.55 and a high of $21.68 and are now at $21.48, 104% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1.5% while the 50-day MA has advanced 4.0%.

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 24.1%. We continue to monitor MRO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders Marathon Oil

Ticker(s): MRO