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Look for Shares of Marathon Petrole to Potentially Pullback after Yesterday's 1.62% Rise

By Shiri Gupta

Marathon Petrole (NYSE:MPC) traded in a range yesterday that spanned from a low of $60.75 to a high of $61.54. Yesterday, the shares gained 1.6%, which took the trading range above the 3-day high of $61.48 on volume of 1.1 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Marathon Petrole share prices have moved between a 52-week high of $85.06 and a 52-week low of $43.96 and are now trading 40% above that low price at $61.54 per share. The 200-day and 50-day moving averages have moved 0.07% higher and 0.41% higher over the past week, respectively.

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

Keywords: rebounders marathon petrole

Ticker(s): MPC