MPC breakoutBuy on breakout this is an energy stock but has nice pattern and move out with a stop below breakout area.
M1PC34 trade ideas
Time for a Marathon - MPC - Daily - Pullback towards supportMPC pulling back to find support somewhere and with a key level at 82.5, I'm tempted to buy here with a stop a bit lower than the 82.5 key support. I will also enter some at the 82.50 level with a much tighter stop.
I'm also looking for some longs after the market decline and this stock is one that I am comfortable with. I will also be adding to DNKN down here too.
Tim 9:45AM EST Fri, Sep 26, 2014 84.15 bid
Marathon Petroleum Corp (NYSE:MPC) Sprinting Into Key ResistanceShares of oil refiner Marathon Petroleum Corp (NYSE:MPC) are racing higher today, as the stock is up over 6.0%. This is a very impressive move as the overall markets are seeing some severe selling pressure. The company reported earnings today that beat the street expectations, couple that with a sharp decline in Crude Oil, and you have the perfect elixir for a strong move up in the share price. However, Marathon Petroleum Corp (NYSE:MPC) is into a fair bit of resistance as seen on the chart below. A break through of this down sloping trendline and you could see a move right back up to the 52 weeks highs.
For live market insight and alerts exactly when we enter and exit positions... Come step inside the Elite Round Table and enter profitable trades live with the proven Pro's. You can also join our FREE market moving email list to get free updates ONLY when important action is happening. Or get the live trades we enter right now here. We look forward to having you join us as we navigate the markets and make money!
Parm Mann
Elite Round Table
Follow me on twitter: @ParmMannTrader
Join the Elite Round Table on Facebook
MPCMACD bullish divergence. Will it be enough to overcome the current downtrend? I'm afraid not, but a retest of the 80 is possible.
Coiled Stochastics setup for MPC. Target 98/99Thanks for this idea Tim. See his view here:
www.stocksetups.com
Marathon Petroleum Corp MPC Daily - CCI +100 = BUY SIGNALMPC's last 3 signals show more upside potential than downside risk from the first time it gets overbought after a period of being strongly oversold. This "relief rally" or "Phoenix rising from the ashes" rally is an interesting setup. Emerging momentum is an interesting way to get on board and ride a rising tide. Clearly the best signal was back in October last year, but I like the odds here, especially as MPC has lagged the rally in the other oil stocks. Granted MPC is a refiner/marketer of gasoline, but the oil stocks tend to stick together and MPC has lagged.
SIGNAL = CCI reached +100 after being under -100 = SIGNAL TO JUMP ON BOARD
Tim MPC 90.05 last +0.44 6/23/2014 10:29AM EST
Marathon Petroleum MPC Daily (owns Hess Stations now) oversoldOversold and turning up.
Buy more when CCI closes above -100.
Exit when CCI reaches +100 or just use a trailing stop at that time.
Tim 5/27/2014 1:15PM EST 87.13 -0.01 last
Does your refiner have Tie-ins in Nederland?XL South to nederland helps $VLO & $PSX and hurts $MPC $HFC & $TSO #321crack continues to fall but #Crudediffs widen $1.
refiners under Hammer & Anvil attack$VLO $MPC $PSX $HFC $TSO, #321crack falls $4 while #Crudediffs tighten $3, refiners under a $7 Hammer & Anvil attack since Mar12
MPC - reversal to $77+ then $74+Looking for bounce to lower trend line in channel ($77+) then for it to break down and fall back to the support line at $74+
MPCPotential wedge, not confirmed. Nice retrace area and the daily presents a King/Queen (Pipe Bottom)
MROLost the 50dma but there's support right here. Next support bottom of Triangle. Will be interesting to see how this resolves
