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AI Analysis of MRO
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Red day on Thursday for Marathon Oil stock after losing 0.741%
(Updated on Apr 11, 2024)

Buy or Hold candidate since Feb 16, 2024 Gain 26.01% PDF

The Marathon Oil stock price fell by -0.741% on the last day (Thursday, 11th Apr 2024) from $29.68 to $29.46. During the last trading day the stock fluctuated 2.62% from a day low at $29.05 to a day high of $29.81. The price has risen in 6 of the last 10 days and is up by 6.32% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -546 thousand shares and in total, 8 million shares were bought and sold for approximately $245.27 million.

The stock lies in the middle of a wide and 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 34.77% during the next 3 months and, with a 90% probability hold a price between $36.89 and $40.70 at the end of this 3-month period.

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MRO Signals & Forecast

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 $29.51. On a fall, the stock will find some support from the long-term average at approximately $26.58. 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. 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 Friday, April 05, 2024, and so far it has fallen -0.775%. 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 fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for Marathon Oil stock

On the downside, the stock finds support just below today's level from accumulated volume at $27.10 and $23.98. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Marathon Oil finds support just below today's level at $27.10. If this is broken, then the next support from accumulated volume will be at $23.98 and $22.66.

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 $0.760 between high and low, or 2.62%. For the last week, the stock has had daily average volatility of 1.99%.

Our recommended stop-loss: $28.37 (-3.69%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 78 and this increases the risk substantially. There is a sell signal from a pivot top found 4 days ago.)

Trading Expectations (MRO) For The Upcoming Trading Day Of Monday 15th

For the upcoming trading day on Monday, 15th we expect Marathon Oil Corporation to open at $29.44, and during the day (based on 14 day Average True Range), to move between $28.92 and $30.00, which gives a possible trading interval of +/-$0.538 (+/-1.83%) up or down from last closing price. If Marathon Oil Corporation takes out the full calculated possible swing range there will be an estimated 3.65% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $29.50 (0.14%) than the support at $27.10 (8.01%), 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 Oil Corporation stock A Buy?

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 stock to perform well in the short-term.

Current score: 1.275 Buy Candidate Unchanged

Predicted Opening Price for Marathon Oil Corporation of Monday, April 15, 2024

Fair opening price April 15, 2024 Current price
$29.44 ( 0.0679%) $29.46

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 30.20 2.51 %
R2 29.91 1.53 %
R1 29.73 0.92 %
Current price: 29.46
Support S1 29.15 -1.05 %
S2 28.97 -1.66 %
S3 28.68 -2.65 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 29.69 0.781 %
R2 29.68 0.747 %
R1 29.50 0.136 %
Current price 29.46
Support S1 27.10 -8.01%
S2 23.98 -18.60%
S3 22.66 -23.08%

MRO Dividend Payout History


# Declaration Date 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

What is the symbol for Marathon Oil Stock and on which exchange is it traded?
The symbol for Marathon Oil is MRO and it is traded on the NYSE (New York Stock Exchange).

Should I buy or sell Marathon Oil Stock?
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 stock to perform well in the short-term.

How to buy Marathon Oil Stock?
Marathon Oil Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Marathon Oil Stock.

What's the current price of Marathon Oil Stock?
As of the end of day on the 2024-04-11, the price of an Marathon Oil (MRO) share was $29.46.

What is the 52-week high and low for Marathon Oil Stock?
The 52-week high for Marathon Oil Stock is $29.81 and the 52-week low is $21.63.

What is the market capitalization of Marathon Oil Stock?
As of the 2024-04-11, the market capitalization of Marathon Oil is 16.791B.

When is the next earnings date for Marathon Oil?
The upcoming earnings date for Marathon Oil is May 01, 2024.
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About Marathon Oil Corporation

Marathon Oil MRO-TEK Realty Limited engages in the manufacture, supply, and distribution of access, and networking equipment and solutions in India and internationally. It operates through Products, Real Estate Development, EMS, and Solutions segments. The company's products include time division multiplexer (TDM) products, including modems and converters, multi-service access products, Ethernet over PDH and optical network, PDH optical multiplexers, and TDM ... MRO Profile

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