MARATHON PETROLEUM - Daily - Technical analysis published on 11/04/2019 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Strongly bullish
Technical indicators
28%
28%
44%
My opinion
Bullish above 62.39 USD
My targets
67.18 USD (+1.07%)
69.20 USD (+4.11%)
My analysis
MARATHON PETROLEUM is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 62.39 USD. The next resistance located at 67.18 USD is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 69.20 USD. After this resistance, buyers could then target 86.39 USD. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
In the very short term, the general bullish sentiment is not called into question, despite technical indicators being indecisive.
FORCE
0
10
6.1
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The MARATHON PETROLEUM rating is 66.47 USD. The price has increased by +3.94% since the last closing and was between 64.73 USD and 66.83 USD. This implies that the price is at +2.69% from its lowest and at -0.54% from its highest.64.73
66.83
66.47
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of MARATHON PETROLEUM in Daily shows a strongly overall bullish trend. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators market scanner is currently detecting several bearish signals that could impact this trend:
Bearish price crossover with Moving Average 20
Type : Bearish
Timeframe : Daily
Bearish price crossover with adaptative moving average 20
Type : Bearish
Timeframe : Daily
An assessment of technical indicators does not currently provide any relevant information to suggest whether the signal given by the technical indicators is more bullish or bearish.
Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Price is back under the pivot point
Type : Bearish
Timeframe : Daily
Momentum indicator is back under 0
Type : Bearish
Timeframe : Daily
Williams %R indicator is back under -50
Type : Bearish
Timeframe : Daily
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
The presence of a bearish pattern in Japanese candlesticks detected by Central Candlesticks that could cause a correction in the very short term was also detected:
Long black line
Type : Bearish
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 54.36 | 59.23 | 62.39 | 66.47 | 67.18 | 69.20 | 86.39 |
| Change (%) | -18.22% | -10.89% | -6.14% | - | +1.07% | +4.11% | +29.97% |
| Change | -12.11 | -7.24 | -4.08 | - | +0.71 | +2.73 | +19.92 |
| Level | Minor | Major | Major | - | Intermediate | Intermediate | Major |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 55.68 | 58.53 | 61.24 | 64.09 | 66.80 | 69.65 | 72.36 |
| Camarilla | 62.42 | 62.93 | 63.44 | 63.95 | 64.46 | 64.97 | 65.48 |
| Woodie | 55.61 | 58.50 | 61.17 | 64.06 | 66.73 | 69.62 | 72.29 |
| Fibonacci | 58.53 | 60.65 | 61.97 | 64.09 | 66.21 | 67.53 | 69.65 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 61.79 | 63.23 | 65.62 | 67.06 | 69.45 | 70.89 | 73.28 |
| Camarilla | 66.96 | 67.31 | 67.66 | 68.01 | 68.36 | 68.71 | 69.06 |
| Woodie | 62.27 | 63.47 | 66.10 | 67.30 | 69.93 | 71.13 | 73.76 |
| Fibonacci | 63.23 | 64.69 | 65.60 | 67.06 | 68.52 | 69.43 | 70.89 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 46.83 | 52.54 | 58.24 | 63.95 | 69.65 | 75.36 | 81.06 |
| Camarilla | 60.81 | 61.86 | 62.90 | 63.95 | 65.00 | 66.04 | 67.09 |
| Woodie | 46.84 | 52.54 | 58.25 | 63.95 | 69.66 | 75.36 | 81.07 |
| Fibonacci | 52.54 | 56.90 | 59.59 | 63.95 | 68.31 | 71.00 | 75.36 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 61.35 | |
| MACD (12,26,9): | 2.2900 | |
| Directional Movement: | 0.82 | |
| AROON (14): | -14.29 | |
| DEMA (21): | 67.49 | |
| Parabolic SAR (0,02-0,02-0,2): | 69.32 | |
| Elder Ray (13): | 0.41 | |
| Super Trend (3,10): | 63.44 | |
| Zig ZAG (10): | 66.41 | |
| VORTEX (21): | 1.1000 | |
| Stochastique (14,3,5): | 48.31 | |
| TEMA (21): | 67.48 | |
| Williams %R (14): | -39.18 | |
| Chande Momentum Oscillator (20): | 3.72 | |
| Repulse (5,40,3): | -1.1400 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.6500 | |
| Courbe Coppock: | 13.62 |
| MA7: | 66.64 | |
| MA20: | 64.37 | |
| MA50: | 58.14 | |
| MA100: | 54.90 | |
| MAexp7: | 66.02 | |
| MAexp20: | 64.24 | |
| MAexp50: | 60.02 | |
| MAexp100: | 57.36 | |
| Price / MA7: | -0.26% | |
| Price / MA20: | +3.26% | |
| Price / MA50: | +14.33% | |
| Price / MA100: | +21.07% | |
| Price / MAexp7: | +0.68% | |
| Price / MAexp20: | +3.47% | |
| Price / MAexp50: | +10.75% | |
| Price / MAexp100: | +15.88% |
News
The last news published on MARATHON PETROLEUM at the time of the generation of this analysis was as follows:
- Gary R. Heminger Announces Plan To Retire From Marathon Petroleum In 2020 After 45 Years
- Marathon Petroleum Corporation And MPLX LP Announce The Retirement Of Gregory J. Goff And Appointment Of Michael J. Hennigan As CEO Of MPLX GP LLC
- Marathon Petroleum Corp. Reports Third-Quarter Results
- Marathon Petroleum Provides Update On Strategic Review To Enhance Shareholder Value
- Marathon Petroleum Corp. Announces Quarterly Dividend
This member declared not having a position on this financial instrument or a related financial instrument.
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