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Marathon Oil (MRO) Approaches New Downside Target of $12.13

By Amy Schwartz

Shares of Marathon Oil (NYSE:MRO) have bearishly opened below the pivot of $12.94 today and have reached the first support level of $12.57. Investors may be interested in a cross of the next downside pivot targets of $12.13 and $11.32.

Marathon Oil has overhead space with shares priced $0.00, or 100.0% below the average consensus analyst price target of $22.39. Marathon Oil shares should first meet resistance at the 50-day moving average (MA) of $13.03 and find additional resistance at the 200-day MA of $15.12.

Marathon Oil share prices have moved between a 52-week high of $24.20 and the current low of $0.00 and are currently at $0.00 per share. Over the last five market days, 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: pivot alerts Marathon Oil

Ticker(s): MRO