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Marathon Oil (MRO) Approaches New Upside Target of $31.39
[November 19, 2012]

Marathon Oil (MRO) Approaches New Upside Target of $31.39

Nov 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 --------------------------------------------------------------------------------------------- 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 Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at:

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