Murphy Oil (MUR) Trading Report

October 06, 2022, 22:15 pm ET, BY Robert S.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

This report was produced using AI developed by Stock Traders Daily.  Over the past 20 years this proprietary AI has been refined to help identify the most opportune trading strategies for both individual stocks and the stock markets themselves.  This methodology is also applied to Index options, ETFs, and futures.  The objective of this specific report is to optimize trading in Murphy Oil (NYSE: MUR) while incorporating prudent risk controls. 

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for MUR change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

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Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if MUR is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for MUR too.  All of these are offered below the Summary Table.

Longer Term Trading Plans for MUR

• Buy MUR slightly over 38.29 target 45.04 stop loss @ 38.18 Details

The technical summary data tells us to buy MUR near 38.29 with an upside target of 45.04. This data also tells us to set a stop loss @ 38.18 to protect against excessive loss in case the stock begins to move against the trade. 38.29 is the first level of support below 43.51 , and by rule, any test of support is a buy signal. In this case, support 38.29 is being tested, a buy signal would exist.

• Short MUR slightly under 45.04, target 38.29, stop loss @ 45.17 Details

The technical summary data is suggesting a short of MUR as it gets near 45.04 with a downside target of 38.29. We should have a stop loss in place at 45.17though. 45.04 is the first level of resistance above 43.51, and by rule, any test of resistance is a short signal. In this case, if resistance 45.04 is being tested, a short signal would exist.

Swing Trading Plans for MUR

• Buy MUR slightly over 45.04, target n/a, Stop Loss @ 44.91 Details

If 45.04 begins to break higher, the technical summary data tells us to buy MUR just slightly over 45.04, with an upside target of n/a. The data also tells us to set a stop loss @ 44.91 in case the stock turns against the trade. 45.04 is the first level of resistance above 43.51, and by rule, any break above resistance is a buy signal. In this case, 45.04, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short MUR slightly near 45.04, target 40.73, Stop Loss @ 45.17. Details

The technical summary data is suggesting a short of MUR if it tests 45.04 with a downside target of 40.73. We should have a stop loss in place at 45.17 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 45.04, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for MUR

• Buy MUR slightly over 43.54, target 45.04, Stop Loss @ 43.44 Details

If 43.54 begins to break higher, the technical summary data tells us to buy MUR just slightly over 43.54, with an upside target of 45.04. The data also tells us to set a stop loss @ 43.44 in case the stock turns against the trade. 43.54 is the first level of resistance above 43.51, and by rule, any break above resistance is a buy signal. In this case, 43.54, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short MUR slightly near 43.54, target 40.87, Stop Loss @ 43.64. Details

The technical summary data is suggesting a short of MUR if it tests 43.54 with a downside target of 40.87. We should have a stop loss in place at 43.64 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 43.54, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

MUR Ratings for October 06:

Term →	Near	Mid	Long
Rating	Strong	Weak	Strong
P1	0	0	31.78
P2	40.87	34.09	38.29
P3	43.54	40.73	45.04

Support and Resistance Plot Chart for MUR

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