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SmarTrend Watching for Potential Rebound in Shares of Marathon Petrole After 4.63% Loss

By David Diaz

Marathon Petrole (NYSE:MPC) traded in a range yesterday that spanned from a low of $30.90 to a high of $32.55. Yesterday, the shares fell 4.6%, which took the trading range below the 3-day low of $31.08 on volume of 4.0 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Marathon Petrole share prices have moved between a 52-week high of $69.65 and a 52-week low of $15.26 and are now trading 100% above that low price at $30.55 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has declined 3.1%.

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

Keywords: rebounders marathon petrole

Ticker(s): MPC