MRO
Long | MRONYSE:MRO
TP1: 14.25$
Call options, Strike 15$, 07/30/21
*This is my idea and could be wrong 100%
Black Gold is not doneBlack Gold finally broke out from the 3 month cup handle pattern as mentioned last week! Although weekly chart was showing bearish, it was a bullish flag because the lows never broke. This week the momentum continues upward possibly in a big way. Extremely Bullish! Once it breaks 56.75, 59 will be the next target. XOM, SLB, NOV are yummy plays.
MROAll price levels are algo targets. Expect a reaction at every one of those.
Green= Buy, possible dip target to reenter long
Red= Sell, dip expected at those regions
White= Has to break to confirm following price target
hoping this can hold the supportrecord DRAW in oil inventory today. but oil went down with less demand forecast.
MRO - Strong Bull Flag Above 50 Day Moving Average Long Easy $7MRO is currently displaying one of the strongest bull flag in the market today. It has been above the 50 day MA for a long time and never dipped below while everyone took profits on the QQQs today. Don't get tricked into the bear trap. Load up on MRO for the nice ride.
Marathon: Do not get rekt!!This thing has float of about 17M -- which means that if the total volume is around 300M, then every person is passing around (and touched) the same shares 17 times that day. At least, that's how I see it in my mind. This is not Marathon oil.
Trucking Along The SPY - 06/12/20 RECAPHi traders,
After an indecisive start of Friday's trading and one false breakout later, I managed to both enter and exit pretty nicely in MGM, making it probably the nices trade of the month. Ending up slightly down for the week though.
Trades:
1) MRO - LONG @6.81, -0.70%
2) MGM - SHORT @19.09, +2%
*In my ID trades, I risk 1% of the account per trade and go for 2% (2:1 RRR ). Sometimes I adapt a little bit as you can see in the trades' description.*
Total PnL for the day: +1.30%
Total PnL for the week: -2.04%
Good trades,
Tom | FINEIGHT
hit a strong support. it might rebound tomorrowafter today's panic sale. there is a good chance for a big rebound tomorrow. need to hold the support around $6.30
Please note: just sharing my view. its not a recommendation for buying or selling.
$MRO Oil is set for a pull back...Gap UP TWICE!!Does anyone see the issue with this?
Gap UP TWICE in less than a week....
in a very overbought state can only
mean one thing.....right??
#1 Time TOO EASY $$$Listen! OIL MASS DEFLATION -$30 per barrel. OIL MASS SLOW PRODUCTION!. OIL DEMAND INCREASE! OIL MASS INFLATION+WAR+CHAOS CANT KEEP UP WITH DEMAND! ECONOMICS 101. Don't listen to the fake pros they know nothing! BLACK HORSE RIDES! LOW SUPPLIES EVERYWHERE FOOD SHORTAGES! LOCUSTS!
$MRO Trading At Trendline Support$MRO is an oil name that looks interesting with crude at $20 a barrel. $MRO is pretty strong financially and trades at just 0.21x book, 3.28x cash, and 1.13x FCF.
There's also been a lot of insider buying recently.
Insider Trading Relationship Date Transaction Cost #Shares Value ($) #Shares Total SEC Form 4
TILLMAN LEE M Chairman, President and CEO Mar 24 Buy 3.62 28,600 103,406 1,137,230 Mar 25 04:50 PM
TILLMAN LEE M Chairman, President and CEO Mar 23 Buy 3.38 28,000 94,581 1,108,630 Mar 25 04:50 PM
TILLMAN LEE M Chairman, President and CEO Mar 16 Buy 4.00 27,500 110,000 1,080,630 Mar 17 04:34 PM
TILLMAN LEE M Chairman, President and CEO Mar 13 Buy 4.21 22,500 94,660 1,053,130 Mar 16 04:32 PM
TILLMAN LEE M Chairman, President and CEO Mar 12 Buy 3.84 25,000 95,998 1,030,630 Mar 16 04:32 PM
Marathon Oil Corporation operates as an independent exploration and production company in the United States and Equatorial Guinea. The company engages in the exploration, production, and marketing of crude oil and condensate, natural gas liquids, and natural gas; and the production and marketing of products manufactured from natural gas, such as liquefied natural gas and methanol, as well as owns and operates 32 central gathering and treating facilities and the Sugarloaf gathering system, a 42-mile natural gas pipeline through Karnes and Atascosa Counties. As of December 31, 2019, it had estimated proved developed reserves totaling 721 million barrels of oil equivalent (mmboe); and estimated proved undeveloped reserves totaling 484 mmboe. The company was formerly known as USX Corporation and changed its name to Marathon Oil Corporation in July 2001. Marathon Oil Corporation was founded in 1887 and is headquartered in Houston, Texas.
As always, trade with caution and good luck to all!
