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Archive
- 4/5/2024 -
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Marathon Oil Corp. (MRO) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a eighth consecutive positive week for the Marathon Oil Corp. (MRO). During the week, the MRO gained 1.35 points, or 4.76%, and closed at 29.69 on Friday, April 5, 2024. MRO was trading at average weekly trading volume.
MRO is a member of Energy Sector. Energy is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See MRO long-term trend chart]
A long-term uptrend had started on April 1, 2020 at 3.02 and reached 33.42 on November 7, 2022. MRO gained -30.40 points, or -1006.62%, in 135 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (26.82) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
Medium-term trend: [See MRO medium-term trend chart]
A medium-term downtrend had started on November 7, 2022 at 33.42 and reached 20.57 on March 16, 2023. MRO lost 12.85 points, or 38.45%, in 18 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (22.13) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. MRO may retest the broken resistance line. It is considered to be a support line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.
 Weekly Technical Indicators: [See MRO weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range and Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is above its signal line since March 1, 2024. The distance between MACD and the signal line is near its high and getting bigger. Use the following link to access a MACD help.
 Short-term trend: [See MRO short-term trend chart]
A short-term uptrend had started on January 18, 2024 at 21.81 and reached 29.77 on April 5, 2024. MRO gained -7.96 points, or -36.50%, in 78 days. Price is near the trend high.
 Daily Technical Indicators: [See MRO daily technical indicators chart]
Daily Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Relative Strength Index, Williams' Percentage Range and Lane's Stochastic. Daily MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with daily MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Use the following link to access Relative Strength Index help.
The daily MACD line is above its signal line since January 24, 2024. This is an indication that the short-term trend is up.
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| Daily Oscillators |
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| Weekly Oscillators |
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| Trading
Signals |
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| Sector and
Industry |
| Description |
Name |
Rank |
| Sector |
Energy |
12 |
| Industry |
Oil & Gas Exploration & Production |
114 |
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| Daily Trend |
| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Rising Channel |
| Low |
22.06 |
| Low Date |
02/05/2024 |
| High |
29.77 |
| High Date |
04/05/2024 |
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| Weekly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Status |
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| Resistance |
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| Support |
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| Low |
21.81 |
| Low Date |
01/18/2024 |
| High |
29.77 |
| High Date |
04/05/2024 |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
Falling Wedge |
| Status |
Broken Resistance |
| Resistance |
18.91 |
| Support |
18.82 |
| High |
29.56 |
| High Date |
10/19/2023 |
| Low |
21.81 |
| Low Date |
01/18/2024 |
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| Quarterly Trend |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
Symmetric Triangle |
| Status |
Broken Resistance |
| Resistance |
27.69 |
| Support |
22.13 |
| High |
33.42 |
| High Date |
11/07/2022 |
| Low |
20.57 |
| Low Date |
03/16/2023 |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Symmetric Triangle |
| Status |
Broken Resistance |
| Resistance |
27.69 |
| Support |
26.82 |
| Low |
3.02 |
| Low Date |
04/01/2020 |
| High |
33.42 |
| High Date |
11/07/2022 |
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