Marathon Stock Forecast

Stronger technical forecast for Marathon stock price after Friday trading.
(Updated on Apr 26, 2024)

MPC Signals & Forecast

There are few to no technical positive signals at the moment. 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 $200.68. On a fall, the stock will find some support from the short-term average at $198.05. 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. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -9.46%. 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 $2.99 between high and low, or 1.53%. For the last week, the stock has had daily average volatility of 2.19%.

Marathon is oversold on RSI14 (20). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: $189.37 (-4.55%) (This stock has medium daily movements and this gives medium risk. Low RSI14 is 20 which reduces the risk some. There is a sell signal from a pivot top found 15 days ago.)

Trading Expectations (MPC) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect Marathon Petroleum Corporation to open at $197.70, and during the day (based on 14 day Average True Range), to move between $193.48 and $203.30, which gives a possible trading interval of +/-$4.91 (+/-2.48%) up or down from last closing price. If Marathon Petroleum Corporation takes out the full calculated possible swing range there will be an estimated 4.95% 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 (2.29%) than the resistance at $211.38 (6.55%), 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?

Marathon holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.281 Hold/Accumulate Upgraded

Predicted Opening Price for Marathon Petroleum Corporation of Monday, April 29, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.