Green day on Thursday for Marathon Oil CorporationStockInvest.us, 1 year ago
The Marathon Oil Corporation stock price gained 2.05% on the last trading day (Thursday, 10th Mar 2022), rising from $23.40 to $23.88. During the day the stock fluctuated 4.37% from a day low at $23.12 to a day high of $24.13. The price has risen in 7 of the last 10 days and is up by 11.43% over the past 2 weeks. Volume fell on the last day by -15 million shares and in total, 25 million shares were bought and sold for approximately $586.35 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
On Mar 02, 2022 "Benchmark" gave "" rating for MRO. The price target was set to $23.00+0.5%.
The stock lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled.Given the current short-term trend, the stock is expected to rise 56.32% during the next 3 months and, with a 90% probability hold a price between $35.83 and $38.73 at the end of this 3-month period.
The Marathon Oil Corporation stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $23.63 and $21.41. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, March 07, 2022, and so far it has fallen -1.85%. Further fall is indicated until a new bottom pivot has been found.
Marathon Oil Corporation finds support from accumulated volume at $23.40 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.01 between high and low, or 4.37%. For the last week, the stock has had a daily average volatility of 7.23%.
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Marathon Oil Corporation stock to perform well in the short-term.Check full Marathon Oil forecast and analysis here.
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