The Greedy Trader Weekly Analysis
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Downtrend exhaustion - Stock Market Timing Signals and trading strategies.

Downtrend exhaustion stock alert presents a stock market trading strategy based on combination of timing signals, technical indicators, trend analysis and pattern recognition. Stock market alert is a warning signal. It indicates that long term downtrend is exhausted and probability of long term trend reversal is high. Downtrend exhaustion stock market alert presents relatively low to medium risk - high reword stock pick for undervalued stocks. The strategy is based on taking long position on anticipation of downtrend reversal. Downtrend exhaustion timing strategy and stock trading system presents alerts for S&P 500 index members, ETFs and market indices. As S&P 500 trading system it shows excellent results for index timing also.

Downtrend Exhaustion

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- 3/15/2024 -
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Marathon Oil Corp. (MRO) Technical Analysis

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Summary:
Weekly :Overbought sectorTrend support at 26.49
Daily :Relative Strength Index and Williams' Percentage Range are overboughtLane's Stochastic is strongly overboughtThe price is above the upper Bollinger Band
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It was a fifth consecutive positive week for the Marathon Oil Corp. (MRO). During the week, the MRO gained 1.77 points, or 7.15%, and closed at 26.51 on Friday, March 15, 2024. It was the best weekly gain since October 13, 2023. 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 price is near the trend support (26.49) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support 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 trend support level is at 22.05 and resistance is at 27.92. A Symmetric Triangle pattern represents the area of indecision, where the movement direction is questioned. Chart pattern analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric Triangle pattern in a medium-term trend.

Weekly Technical Indicators: [See MRO weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since March 1, 2024. The distance between MACD and the signal line is low, but 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 26.70 on March 15, 2024. MRO gained -4.89 points, or -22.42%, in 57 days. Price is near the trend high.

Daily Technical Indicators: [See MRO daily technical indicators chart]
Daily Relative Strength Index and Williams' Percentage Range are overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index and Williams' Percentage Range or strongly overbought daily 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, Relative Strength Index and Williams' Percentage Range 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.

The price has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 84.50
Overbought
Williams' Percentage Range (W%R) 12.90
Overbought
Lane's Stochastic (%D-Slow) 95.38
Strong Overbought
Greed/Fear Indicator (GFI) 89.00
Overbought
Moving Average Converg./Diverg. (MACD) 0.49
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 63.24
Williams' Percentage Range (W%R) 35.20
Lane's Stochastic (%D-Slow) 64.67
Greed/Fear Indicator (GFI) 61.69
Moving Average Converg./Diverg. (MACD) -0.51
Trading Signals
Description Value Chart
Yearly Trendline Resistance 27.92
Quarterly Trendline Resistance 27.92
Daily Stochastic Crossing 26.59
Price 26.51
Yearly Trendline Support 26.49
Upper Bollinger Band 26.37
Weekly Stochastic Crossing 25.51
Parabolic System 25.45
20 Day Moving Average 24.53
50 Day Moving Average 23.53
Lower Bollinger Band 22.93
Quarterly Trendline Support 22.05
Sector and Industry
Description Name Rank
Sector Energy 9
Industry Oil & Gas Exploration & Production 57
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 22.06
Low Date 02/05/2024
High 26.70
High Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 21.81
Low Date 01/18/2024
High 26.70
High Date 03/15/2024
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 20.21
Support 19.59
High 29.56
High Date 10/19/2023
Low 21.81
Low Date 01/18/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Valid
Resistance 27.92
Support 22.05
High 33.42
High Date 11/07/2022
Low 20.57
Low Date 03/16/2023
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Test Support
Resistance 27.92
Support 26.49
Low 3.02
Low Date 04/01/2020
High 33.42
High Date 11/07/2022
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.