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Look for Shares of Marathon Oil to Potentially Pullback after Yesterday's 2.09% Rise

By James Quinn

Marathon Oil (NYSE:MRO) traded in a range yesterday that spanned from a low of $5.81 to a high of $5.99. Yesterday, the shares gained 2.1%, which took the trading range above the 3-day high of $5.84 on volume of 11.8 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Marathon Oil has traded in a range of $3.02 to $16.02 and is now at $5.87, 94% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 3.1% while the 200-day MA has slid 1.2%.

SmarTrend is tracking the current trend status for Marathon Oil and will alert subscribers who have MRO in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders Marathon Oil

Ticker(s): MRO