Marathon Oil Stock Forecast
Green day on Tuesday for Marathon Oil
(Updated on Apr 23, 2024)
The Marathon Oil stock price gained 0.615% on the last trading day (Tuesday, 23rd Apr 2024), rising from $27.65 to $27.82. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.16% from a day low at $27.27 to a day high of $27.86. The price has fallen in 6 of the last 10 days and is down by -4.99% for this period. Volume fell on the last day by -2 million shares and in total, 6 million shares were bought and sold for approximately $153.05 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.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $27.75 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 33.35% during the next 3 months and, with a 90% probability hold a price between $37.01 and $41.61 at the end of this 3-month period.
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MRO Signals & Forecast
A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -6.30%. 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). Some positive signals were issued as well, and these may have some influence on the near short-term development. The Marathon Oil stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $27.88. On a fall, the stock will find some support from the long-term average at approximately $27.46. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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.
Support, Risk & Stop-loss for Marathon Oil stock
Marathon Oil finds support from accumulated volume at $27.10 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 $0.590 between high and low, or 2.16%. For the last week, the stock has had daily average volatility of 2.72%.
Our recommended stop-loss: $26.44 (-4.95%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 12 days ago.)
Trading Expectations (MRO) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Marathon Oil Corporation to open at $27.65, and during the day (based on 14 day Average True Range), to move between $27.18 and $28.46, which gives a possible trading interval of +/-$0.639 (+/-2.30%) up or down from last closing price. If Marathon Oil Corporation takes out the full calculated possible swing range there will be an estimated 4.59% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $28.35 (1.91%) than the support at $27.10 (2.59%), 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.
Earnings coming up
Marathon Oil will release earnings AMC on Wednesday, May 01, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.530. We will update the financials statements for Marathon Oil, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.65% in the first trading day after earnings release.
Is Marathon Oil Corporation stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.
Current score: 2.646 Buy Candidate Unchanged
Predicted Opening Price for Marathon Oil Corporation of Wednesday, April 24, 2024
Fair opening price April 24, 2024 | Current price |
---|---|
$27.65 ( 0.611%) | $27.82 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MRO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 28.24 | 1.51 % | |
R2 | 28.01 | 0.700 % | ||
R1 | 27.88 | 0.199 % | ||
Current price: | 27.82 | |||
Support | S1 | 27.42 | -1.42 % | |
S2 | 27.29 | -1.92 % | ||
S3 | 27.06 | -2.73 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 29.69 | 6.72 % | |
R2 | 28.79 | 3.49 % | ||
R1 | 28.35 | 1.91 % | ||
Current price | 27.82 | |||
Support | S1 | 27.10 | -2.59% | |
S2 | 23.98 | -13.80% | ||
S3 | 22.70 | -18.40% |
MRO Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 20, 2024 | Feb 20, 2024 | Mar 11, 2024 | $0.110 | 0.440% |
2 | Oct 25, 2023 | Nov 14, 2023 | Dec 11, 2023 | $0.110 | 0.457% |
3 | Jul 26, 2023 | Aug 15, 2023 | Sep 11, 2023 | $0.100 | 0.382% |
4 | Apr 26, 2023 | May 16, 2023 | Sep 11, 2023 | $0.100 | 0.382% |
5 | Jan 25, 2023 | Feb 14, 2023 | Mar 10, 2023 | $0.100 | 0.417% |
FAQ
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