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Marathon Oil (MRO) Approaches New Upside Target of $11.81

By James Quinn

Shares of Marathon Oil (NYSE:MRO) opened today above their pivot of $11.58 and have already reached the first level of resistance at $11.73. Investors may be interested in a cross of the next upside pivot targets of $11.81 and $12.04.

Marathon Oil has overhead space with shares priced $11.73, or 36.1% below the average consensus analyst price target of $18.36. The stock should find resistance at its 200-day moving average (MA) of $14.19, as well as support at its 50-day MA of $11.58.

Marathon Oil share prices have moved between a 52-week high of $19.28 and a 52-week low of $11.20 and are now trading 5% above that low price at $11.73 per share. Over the past week, the 200-day moving average (MA) has gone down 1.5% while the 50-day MA has advanced 4.0%.

SmarTrend recommended that its subscribers protect gains by selling shares of Marathon Oil on February 7th, 2017 by issuing a Downtrend alert when the shares were trading at $16.09. Since that call, shares of Marathon Oil have fallen 27.6%. 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