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Look for Shares of Marathon Oil to Potentially Pullback after Yesterday's 1.00% Rise

By Amy Schwartz

Marathon Oil (NYSE:MRO) traded in a range yesterday that spanned from a low of $11.90 to a high of $12.09. Yesterday, the shares gained 1.0%, which took the trading range above the 3-day high of $12.03 on volume of 779,000 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, shares of Marathon Oil have traded between a low of $11.06 and a high of $18.93 and are now at $12.08, which is 9% above that low price. The 200-day and 50-day moving averages have moved 0.55% lower and 0.66% lower over the past week, respectively.

SmarTrend is tracking the current trend status for Marathon Oil and will alert subscribers who have MRO in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders Marathon Oil

Ticker(s): MRO