MRO - About to run a marathon! 45% UpsideNYSE:MRO - About to run a marathon! 45% Upside
Marathon Oil Corporation is attempting to break out of a multi-year BULLISH PENNANT pattern and a Bull Flag within it at the same time. We also have turned green on the H5 Indicator.
Entry: $29.70
SL: $27.35
Profit Targets:
$32
$37
$42.50
NFA
Mrolong
USDUSD Oil Prices react to Middle EastOn Thursday January 11th ( earlier today) WTI Crude prices gyrated widely
likely in reaction to US /UK intervention on the terrorists who seized a tanker on the behalf of
Iraq in the Red Sea / Suez Canal area putting shipping and supply concerns into the oil industry
to offset any weak demand. The 15 minute chart shows a megaphone pattern as a
demonstration of waves of relative volatility in price action. I have a position shorting oil
and will now close that position as I see a long entry developing here. US companies that use
rail and pipeline matching domestic production to consumption are less impacted by this
oceanic shipping issue. I will focus on them especially. OXY is at the top of the list and then
MRO.
MRO - IdeaAn Idea suggesting an uptrend in green on MRO
Following a breakout of the down channel in red
Stock idea
Weekly
MRO Inverse H&S IdeaAn Idea for MRO stock, suggesting an inverse H&S formation, with only the right shoulder yet to form
This will result in a bearish move, yet once completed bullish movement should resume as it enters a huge sideways channel which I consider to be really bullish for price in the long run as it will want to break out to the upside
Using MRO call Option to hedge against market dropBought a weekly call option on MRO to hedge against market correction. Marathon Oil is one of the US’s largest oil producers. If Russia invades Ukraine, I believe it will absorb a large percentage of global oil supply, and American oil refineries will possibly receive help from US govt. to ensure we have adequate supply. This is a short term play for me to (hopefully) snatch some Alpha while crypto (unfortunately) tumbles.
strike price = $23
expiry = 2/25/22
MRO Cup and Handle Gas prices have increased to over $2 a gallon. This stock was trading at $8.43 when gas prices were slashed in half during a stay at home order! People are back to work or traveling during the fourth of July.
LONG LONG LONG LONG
$MRO Trading At Trendline Support$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!
