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SmarTrend Watching for Potential Rebound in Shares of Marathon Petrole After 1.84% Loss

By David Diaz

Marathon Petrole (NYSE:MPC) traded in a range yesterday that spanned from a low of $59.08 to a high of $59.63. Yesterday, the shares fell 1.8%, which took the trading range below the 3-day low of $59.42 on volume of 1.4 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, Marathon Petrole share prices have been bracketed by a low of $43.96 and a high of $69.65 and are now at $58.40, 33% above that low price. The 200-day and 50-day moving averages have moved 0.02% lower and 0.57% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Marathon Petrole on November 19th, 2019 by issuing a Downtrend alert when the shares were trading at $62.81. Since that call, shares of Marathon Petrole have fallen 4.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders marathon petrole

Ticker(s): MPC