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Marathon Oil (MRO) Crosses Pivot Point Resistance at $21.34

By David Diaz

Shares of Marathon Oil (NYSE:MRO) have bullishly opened above the pivot of $21.16 today and have reached the first resistance level of $21.34. Investors may be interested in a cross of the next upside pivot targets of $21.49 and $21.82.

Marathon Oil has overhead space with shares priced $0.00, or 100.0% below the average consensus analyst price target of $22.39. The stock should run into initial resistance at its 50-day moving average (MA) of $11.58 and subsequent resistance at its 200-day MA of $14.19.

Marathon Oil share prices have moved between a 52-week high of $21.68 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 1.5% while the 50-day MA has advanced 4.0%.

SmarTrend recommended that subscribers consider buying shares of Marathon Oil on April 5th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $16.48. Since that recommendation, shares of Marathon Oil have risen 28.6%. We continue to monitor MRO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: pivot alerts Marathon Oil

Ticker(s): MRO