When the Price of Marathon Oil $MRO Talks, People Listen

March 10, 2023, 01:00 am ET, BY Momei- Contributor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for MRO

• Buy MRO slightly over 24.44 target 28.41 stop loss @ 24.37 Details

The technical summary data tells us to buy MRO near 24.44 with an upside target of 28.41. This data also tells us to set a stop loss @ 24.37 to protect against excessive loss in case the stock begins to move against the trade. 24.44 is the first level of support below 24.58 , and by rule, any test of support is a buy signal. In this case, support 24.44 would be being tested, so a buy signal would exist.

• Short MRO slightly under 28.41, target 24.44, stop loss @ 28.49 Details

The technical summary data is suggesting a short of MRO as it gets near 28.41 with a downside target of 24.44. We should have a stop loss in place at 28.49though. 28.41 is the first level of resistance above 24.58, and by rule, any test of resistance is a short signal. In this case, if resistance 28.41 is being tested, so a short signal would exist.

Swing Trading Plans for MRO

• Buy MRO slightly over 25.35, target 26.32, Stop Loss @ 25.28 Details

If 25.35 begins to break higher, the technical summary data tells us to buy MRO just slightly over 25.35, with an upside target of 26.32. The data also tells us to set a stop loss @ 25.28 in case the stock turns against the trade. 25.35 is the first level of resistance above 24.58, and by rule, any break above resistance is a buy signal. In this case, 25.35, 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 MRO slightly near 25.35, target 24.44, Stop Loss @ 25.42. Details

The technical summary data is suggesting a short of MRO if it tests 25.35 with a downside target of 24.44. We should have a stop loss in place at 25.42 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, 25.35, 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 MRO

• Buy MRO slightly over 24.81, target 25.42, Stop Loss @ 24.75 Details

If 24.81 begins to break higher, the technical summary data tells us to buy MRO just slightly over 24.81, with an upside target of 25.42. The data also tells us to set a stop loss @ 24.75 in case the stock turns against the trade. 24.81 is the first level of resistance above 24.58, and by rule, any break above resistance is a buy signal. In this case, 24.81, 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 MRO slightly near 24.81, target 24.44, Stop Loss @ 24.87. Details

The technical summary data is suggesting a short of MRO if it tests 24.81 with a downside target of 24.44. We should have a stop loss in place at 24.87 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, 24.81, 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.

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MRO Ratings for March 10:

Term →	Near	Mid	Long
Rating	Neutral	Weak	Strong
P1	0	0	24.44
P2	24.81	25.35	28.41
P3	25.42	26.32	32.59

Support and Resistance Plot Chart for MRO

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This is not EF Hutton, but it could be more #powerful.  A picture speaks a thousand words, they say, and the #priceaction of Marathon Oil (NYSE: MRO) tells an important story.  The movement tells us where investors perceive value, or the lack of it, and if we pay attention we can capture opportunity.  The data below for MRO can be used as an example, and demonstrate how to do this for other stocks too.  This data was current at the time of publication, but it is not updated in real time here. If you want real time updates, or data on a different stock, please get one here Unlimited Real Time Reports.