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Marathon Oil Falls 3.84% on Heavy Volume: Watch For Potential Rebound

By James Quinn

Marathon Oil (NYSE:MRO) traded in a range yesterday that spanned from a low of $12.45 to a high of $13.31. Yesterday, the shares fell 3.8%, which took the trading range below the 3-day low of $12.50 on volume of 7.6 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of Marathon Oil have traded between a low of $11.39 and a high of $24.20 and are now at $12.49, which is 10% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has declined 1.1%.

SmarTrend recommended that its subscribers protect gains by selling shares of Marathon Oil on May 1st, 2019 by issuing a Downtrend alert when the shares were trading at $16.83. Since that call, shares of Marathon Oil have fallen 22.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders Marathon Oil

Ticker(s): MRO