4USS trade ideas
$MRO did you join me?Highlight this one yesterday when still trading within the wedge. Running to $17 from here.
$MRO oil and gas playEverything related to oil is going bananas right now. This stable play looks ready to run for the upper trendline near $17. Avoid the junk. Buy quality. Visit DrStoxx.com for all your trading needs.
$MRO pullback - daily chartLow volume pullback to rising 50sma with oversold indicators and Fib retrace hit.
MRO 18/8/16Looks like the bearish breakdown failed and it´s time for the bulls. Will wait for a pullback before looking for a trade. If it can pull back to support and bounce off of 10 SMA or 30 EMA it looks bullish.
Marathon Oil Sell Setup As with all the other us energy stocks we have been following it has been making a corrective structure for 2016.
This appears to be breaking down as only recently MRO has broken down and out of the lower trend line.
Our trading conditions have been met now with it breaking out and down, retesting & rejecting so this we will be making a short trade here.
MRO tested 10dma and bouncedMRO tested 10dma and bounced off, breakout over 15.75 with a stop below close on 10dma. All the moving averages but 10dma are pointing up which is bullish for MRO. On a weekly it broke long term downtrend and price is currently consolidating.
MRO Marathon OilMR, getting near to a buy signal. A little further down then a touch of the 50sma will be the BUY signal. The RSI and %R are over sold. 61% retracement is extreme. Should be good to complete 3 drives to the top. Could run to $17.70
"AT THE FINISH LINEDESCRIPTION ON CHART
CONFLUENT AREA......
PRICE ACTION ENTRY: BUY BREAK ABOVE THE HIGH OF THE LOW BAR...
LOGICAL TARGET : 13-16
"TIME IS IN"
MRO -- COVERED CALL IDEAWith an implied volatility rank of 98 and an implied volatility of 79, MRO presents a good covered call opportunity here with a return on capital of greater than 10% if called away at the nearest short call strike (13).
Here's the setup (which, as always, may require tweaking after NY open, since these off hours quotes have a tendency to have wide bid/asks):
Buy 100 shares MRO at 12.59
Sell 1 Feb 19 13 short call
Entire Package 11.20/contract ($1120)
Max Profit: $180 (if called away at $13)
Notes: A word of caution is in order here with this one. The universe of downtrodden oil and gas plays is quite large and is growing (for obvious reasons). finance.yahoo.com This company -- along with a bunch of others in the sector and, in particular, those exposed to oil/shale sands operations (this one is) -- may continue to trundle into the dirt. Moreover, earnings is right around the corner (on 2/17) and they, in all likelihood, are going to continue to disappoint. Their last profitable earnings quarter was for the period ending 8/20/14 and the only bright spot has been that, for the last couple of earnings, earnings did not disappoint as much as expected ... .
