Multiple Layers of Support in Place for Marathon Stock

MRO's recent dip has it coming into contact with two bull signals

Deputy Editor
Nov 15, 2023 at 2:47 PM
facebook X logo linkedin

This commentary first appeared on Forbes Great Speculations on Wednesday, November 8, where Schaeffer's Investment Research is a regular contributor.

Marathon Oil Corp (NYSE:MRO) is down 2.5% at $24.90 at last glance, headed for its fourth-straight daily loss. The shares are down 9.3% in just the last week, though the pullback could provide an entry opportunity for bulls.

The recent dip has MRO within one standard deviation of its 160- and 200-day moving averages, which have both been bullish for the stock in the past. Both trendlines have seen three similar signals over the past three years, after which the stock was higher one month later each time, with the 160-day trendline averaging a 3.3% gain, while the 200-day averaged a 6.1% gain.

MRO Nov8

It’s also worth noting that Marathon Oil stock’s 14-day relative strength index (RSI) of 19.2 sits firmly in “oversold” territory. This is also an indicator of an upcoming short-term bounce.

Options are attractively priced at the moment, too. MRO’s Schaeffer’s Volatility Index (SVI) of 31% ranks in the low 20th percentile of its annual range, meaning options traders are pricing in low volatility expectations.


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI