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Look for Shares of Marathon Petrole to Potentially Pullback after Yesterday's 16.01% Rise

By Nick Russo

Marathon Petrole (NYSE:MPC) traded in a range yesterday that spanned from a low of $22.08 to a high of $24.16. Yesterday, the shares gained 16.0%, which took the trading range above the 3-day high of $19.86 on volume of 8.4 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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.

Over the past year, Marathon Petrole has traded in a range of $15.26 to $69.65 and is now at $24.61, 61% above that low. The 200-day and 50-day moving averages have moved 0.8% lower and 5.17% lower over the past week, respectively.

Keywords: rebounders marathon petrole

Ticker(s): MPC