TMCnet News
Marathon Oil (MRO) Approaches New Upside Target of $31.39Nov 19, 2012 (SmarTrend(R) News Watch via COMTEX) -- Shares of Marathon Oil (NYSE:MRO) have bullishly opened above the pivot of $30.65 today and have reached the first resistance level of $31.13. Should the shares continue to rise, the resistance pivots of $31.39 and $32.13 will be of interest. Marathon Oil share prices have moved between a 52-week high of $35.49 and a 52-week low of $23.17 and are now trading 35% above that low price at $31.34 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.6%. There is potential upside of 19.2% for shares of Marathon Oil based on a current price of $31.34 and an average consensus analyst price target of $37.36. Marathon Oil shares have support at the 50-day moving average (MA) of $29.51 and additional support at the 200-day MA of $28.90. SmarTrend recommended that subscribers consider buying shares of Marathon Oil on July 17th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $25.72. Since that recommendation, shares of Marathon Oil have risen 20.0%. We continue to monitor MRO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup |