Marathon Stock Forecast
Weaker technical forecast for Marathon as stock downgraded to Sell Candidate.
(Updated on Apr 18, 2024)
The Marathon stock price fell by -3.67% on the last day (Thursday, 18th Apr 2024) from $202.46 to $195.02. It has now fallen 5 days in a row. During the last trading day the stock fluctuated 4.81% from a day low at $193.74 to a day high of $203.06. The price has fallen in 8 of the last 10 days and is down by -9.82% for this period. Volume has increased on the last day by 910 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, 3 million shares were bought and sold for approximately $517.28 million.
Given the current short-term trend, the stock is expected to rise 36.32% during the next 3 months and, with a 90% probability hold a price between $265.86 and $310.75 at the end of this 3-month period.
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MPC Signals & Forecast
There are few to no technical positive signals at the moment. The Marathon stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $205.80 and $196.52. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -11.00%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 $193.84 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 $9.32 between high and low, or 4.81%. For the last week, the stock has had daily average volatility of 3.03%.
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 Friday 19th
For the upcoming trading day on Friday, 19th we expect Marathon Petroleum Corporation to open at $197.27, and during the day (based on 14 day Average True Range), to move between $189.78 and $200.26, which gives a possible trading interval of +/-$5.24 (+/-2.68%) up or down from last closing price. If Marathon Petroleum Corporation takes out the full calculated possible swing range there will be an estimated 5.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $193.84 (0.61%) than the resistance at $211.38 (8.39%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Marathon Petroleum Corporation stock A Buy?
The Marathon stock holds several negative signals and despite the positive trend, we believe Marathon will perform weakly in the next couple of days or weeks. Therefore, we 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: -4.474 Sell Candidate Downgraded
Predicted Opening Price for Marathon Petroleum Corporation of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $197.27 ( 1.16%) | $195.02 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 206.59 | 5.93 % | |
| R2 | 203.03 | 4.11 % | ||
| R1 | 200.83 | 2.98 % | ||
| Current price: | 195.02 | |||
| Support | S1 | 193.71 | -0.670 % | |
| S2 | 191.51 | -1.80 % | ||
| S3 | 187.95 | -3.62 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 219.13 | 12.36 % | |
| R2 | 214.96 | 10.22 % | ||
| R1 | 211.38 | 8.39 % | ||
| Current price | 195.02 | |||
| Support | S1 | 193.84 | -0.605% | |
| S2 | 169.89 | -12.89% | ||
| S3 | 169.88 | -12.89% |
MPC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 26, 2024 | Feb 20, 2024 | Mar 11, 2024 | $0.83 | 0.455% |
| 2 | Oct 25, 2023 | Nov 15, 2023 | Dec 11, 2023 | $0.83 | 0.577% |
| 3 | Jul 26, 2023 | Aug 15, 2023 | Sep 11, 2023 | $0.750 | 0.487% |
| 4 | Apr 26, 2023 | May 16, 2023 | Jun 12, 2023 | $0.750 | 0.667% |
| 5 | Jan 27, 2023 | Feb 15, 2023 | Mar 10, 2023 | $0.750 | 0.583% |
FAQ
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