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Watch for Shares of Marathon Oil (MRO) to Approach Support at $15.24

By Nick Russo

Shares of Marathon Oil (NYSE:MRO) opened today below their pivot of $15.50 and have already reached the first level of support at $15.35. Investors may be interested in a cross of the next downside pivot targets of $15.24 and $14.98.

There is potential upside of 0.0% for shares of Marathon Oil based on a current price of $0.00 and an average consensus analyst price target of $22.14. Marathon Oil shares should first meet resistance at the 50-day moving average (MA) of $11.58 and find additional resistance at the 200-day MA of $14.19.

In the past 52 weeks, shares of Marathon Oil have traded between the current low of $0.00 and a high of $31.53 and are now at $0.00. 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 3.9%. 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