Marathon Stock Forecast
Marathon stock downgraded from Buy Candidate to Sell Candidate after Tuesday trading session.
(Updated on Jul 02, 2024)
The Marathon stock price fell by -0.372% on the last day (Tuesday, 2nd Jul 2024) from $174.79 to $174.14. During the last trading day the stock fluctuated 2.55% from a day low at $173.51 to a day high of $177.94. The price has risen in 6 of the last 10 days and is up by 1.4% over the past 2 weeks. Volume has increased on the last day by 512 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 2 million shares were bought and sold for approximately $338.56 million.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $176.61 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -19.92% during the next 3 months and, with a 90% probability hold a price between $127.76 and $141.43 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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MPC Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, June 12, 2024, and so far it has risen 3.19%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Marathon stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $174.43. On a fall, the stock will find some support from the short-term average at $174.11. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Marathon stock
Marathon finds support from accumulated volume at $173.66 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $4.43 between high and low, or 2.55%. For the last week the stock has had daily average volatility of 2.30%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MPC) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Marathon Petroleum Corporation to open at $175.20, and during the day (based on 14 day Average True Range), to move between $170.09 and $178.19, which gives a possible trading interval of +/-$4.05 (+/-2.33%) up or down from last closing price. If Marathon Petroleum Corporation takes out the full calculated possible swing range there will be an estimated 4.65% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $174.51 (0.21%) than the support at $173.66 (0.28%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Marathon Petroleum Corporation stock A Buy?
Marathon holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -1.933 Sell Candidate Downgraded
Predicted Opening Price for Marathon Petroleum Corporation of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $175.20 ( 0.607%) | $174.14 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MPC
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 179.63 | 3.15% |
| R2 | 177.93 | 2.18% |
| R1 | 176.89 | 1.58% |
| Price | 174.14 | |
| S1 | 173.50 | -0.365% |
| S2 | 172.46 | -0.97% |
| S3 | 170.77 | -1.94% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 181.72 | 4.35% |
| R2 | 176.61 | 1.42% |
| R1 | 174.51 | 0.212% |
| Price | 174.14 | |
| S1 | 173.66 | -0.276% |
| S2 | 170.51 | -2.08% |
| S3 | 168.76 | -3.09% |
MPC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 15, 2024 | May 15, 2024 | Jun 10, 2024 | $0.83 | 0.473% |
| 2 | Jan 26, 2024 | Feb 20, 2024 | Mar 11, 2024 | $0.83 | 0.455% |
| 3 | Oct 25, 2023 | Nov 15, 2023 | Dec 11, 2023 | $0.83 | 0.577% |
| 4 | Jul 26, 2023 | Aug 15, 2023 | Sep 11, 2023 | $0.750 | 0.487% |
| 5 | Apr 26, 2023 | May 16, 2023 | Jun 12, 2023 | $0.750 | 0.667% |
FAQ
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