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Archive
- 4/19/2024 -
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Marathon Oil Corp. (MRO) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Marathon Oil Corp. (MRO). During the week, the MRO dropped -1.59 points, or -5.47%, and closed at 27.50 on Friday, April 19, 2024. It was the worst weekly loss since November 10, 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 resistance line (27.53). The resistance is usually stronger when technical indicators are overbought. 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 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 price is near the trend resistance line (27.53). The resistance is usually stronger when technical indicators are overbought. 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 resistance line in a medium-term trend.
 Weekly Technical Indicators: [See MRO weekly technical indicators chart]
Weekly Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought 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 link to access Lane's Stochastic help.
The weekly MACD line is above its signal line since March 1, 2024. The distance between MACD and the signal line is relatively high, but getting smaller. 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 30.06 on April 12, 2024. MRO gained -8.25 points, or -37.83%, in 85 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 23.14 and resistance is at 30.70. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a short-term trend.
 Daily Technical Indicators: [See MRO daily technical indicators chart]
Daily Williams' Percentage Range is oversold while Lane's Stochastic is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Williams' Percentage Range or strongly oversold daily Lane's Stochastic. Use the following link to access Williams' Percentage Range help.
The daily MACD line is below its signal line since April 11, 2024. The distance between MACD and the signal line is near its high and getting bigger.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. 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.
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