4USS trade ideas
MRO Bottoming ImprovementMRO is forming an intermediate-term bottom formation that is slowly improving.
MRO has a chance to give us one more long?i think it should make a false breakout and then grow up and give us 1:5 , will see what will really happen
Buying on SupportLast Support level has been successful. Chart primed for an easy run up to 200 DMA @ 15.86. Expecting this new leg to visit 19-23 area given the positions of the SP, current indicators and direction crude has been going.
Ready for a MarathonMarthon Oil looks like a solid candidate for a wave ((iii)) of (iii) advance. The decline from Aug '14 to Feb '16 is a clear 5 wave impulse. The impulsive decline fits nicely as wave C of a larger A-B-C flat pattern. The recent price action making a couple higher highs and lower lows with the context of a completed larger corrective pattern suggests this is a 1-2 1-2 wave setup.
Risk: The alternate possibility is that the larger corrective pattern is just wave W of an even larger correction. The current 3-wave raise is wave X and lower prices should be expected in wave Y.
As long as the 10.87 low holds, the bullish count remains intact as the primary count.
MRO Trade Setup - Trend Reversal SwingMRO - January 5, 2019 - Trade Setup
MRO has recently trend reversed and
successfully broke over the 20ma on
a retest on Friday. With a RSI midline
bullish break and a favorable Macd,
it has a chance to move to the 50ma
at 16.36 with a break over previous
candlestick resistance at 15.70.
Other price targets at 17.81 and the
100ma at 18.80 for a swing.
MRO I was a week of mourning, but I'm ready to collect profitAfter a week completely off, I'm ready to collect some profit. Marathon Oil one of them. My TP was already hit and probably is going lower, but I'll keep an eye for a buyback around $14.76 or $11.78. My PV for this asset is currently at $24, while Wall Street consensus is about $26. However, at $21 would be my target.
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MRO - Call OpportunityMRO had a run up from 14.50 all the way to 22.00 from March to May 2018. Since it has been consolidating between 20-22. This has formed a longer term potential bull flag. Strong resistance at 22, and moderate support at 20. Try to catch one last dip from 21-21.50 with hopes of the bull flag break out. If this doesn't pull back to 21.00 then we can look at playing the break of 22 for a potential multi-day run to 24+.
Marathon Oil - change of price movementNow that we made - hopefully - profit to the up side; it is time for price correction and go a little bit to the down side.
Now that the news came out the the great oil rally of 2018 could be coming to an end due to OPEC may be pumping more oil and the proposed U.S. sanctions against Iran and that the U.S. has more oil invetory than expected.
At the top of the chart we can see two gaps and that is what is called island reversal.
Sell target to fair value target price of 18.00
Right on 61.8% of FibonacciNYSE:MRO
MRO stopped right over 61.8% of fibonacci level. Is it gonna continue or not? It doesn't have that much of a range that make the investors interested but at this level! I'm interested now. Last 5 minutes today volume went up crazy while it was going down, 60K. Almost three times the regular volume for other 5 minutes candles. Does the last 5 minute price action and volume imply that it's time for it to go down! It could be.
I have to see tomorrow move to make a decision about it. Need to have some confirmation on top of volume. I don't see the RSI overbought nor the stochastic showing some downward momentum.
4% Profits by Monday 4-9-18 // Take it or Leave it!MARATHON OIL CORP ($MRO)
See chart for the many numbers of reasons this will be successful. Virtually no over head resistance.
Weekly - Is a key indicator that this Asset will Make a Run! Weekly Chart in process of Elliot Wave 3
Marathon Oil - Possible uptrendFrom the chart it can be seen that both momentum and volume are increasing and an uptrend is likely on it's way
Note: This is not an investment advice!
double topNice double top has formed. waiting for 3/4 pullback to the 61.8 or 78.6 retracement to go short. This will be conjunction with the underlying trend.
double top with 3/4 pullback Nice double top with a 3/4 pull back to the 78.6 retracement(natural movement in price). I entered at the 61.8 retracement and profit target is the 1.50 retracement.
Trend Reversal Update : MRO continues to make higher high.MRO makes new higher high
Trend reversal confirmed.
Hit first target but not overbought.
Bollinger Band and Force index maintained +ve.
Expect to retrace to find new support before move to next higher target.
I think we test 61% retracement on FIB and wave 5 downI think we test 61% retracement on FIB and wave 5 down
Trend reversal in MRO+MRO making trend reversal and breakout primary downtrend
+Bullish EMA lineup : EMA20 > EMA50 > EMA200
+Making Higher High and Higher Low.
+Generally shows +ve Force Index since last Earning Call
+Price retrace to FIBO 0.618 and Consolidating around EMA20
+Price trying to break 15.28 level.
+Price above Lower Limit of Bollinger Band (ATOM). Few buy signal appears
+Oversold.
+Reward over Risk = 2.1
+Bullish if price continue to find support at EMA20
MRO inverse HSOil averages completing final stages of complex inverse H&S; MRO is behind the curve of many O&G stocks; measuring rule implies 42% increase from neckline w/ PT at 23.4
MRO- Double support coming upTrying to hold first support, could easily see 14 if breaks through. Looking for a long
