1MPC trade ideas
MPC - a leader in profitsMarathon is a very strong long term, global issues aside. On paper its a fantastic corporation. With the increase dividends now and all the buy backs I wouldnt be surprised to see 160 early 2023. Right now, 109 roughly is a pull back, which is expected. Financials asside, all my analysis shows its about to POP. Its squeezing as I write this. Lets find out where we go. Up or down... looks like up to me. NFA
SELL Marathon Petroleum CompanyConsistent with our overall view of the market, and in particular - the oil & gas space - MPC is showing us a great risk / reward setup for a SHORT.
How deep this thing will go, I cannot say - so there is no particular target in mind right now. Nonetheless, we will continue to monitor and provide updates when necessary. For now, Marathon Petroleum can be shorted and considered a low risk trade.
Take care! God bless!
Marathon Petroleum Nears Breakout LevelMarathon Petroleum has been quietly sitting below resistance, and now could be approaching a breakout.
The first important feature on the oil refiner’s chart is Thursday’s pullback to its 50-day simple moving average (SMA). Buyers immediately defended this level, which MPC battled for five weeks in August and September.
It’s also noteworthy that prices bounced around the June high of $64.84. Is old resistance new support?
Next you have the large outside candle on November 2. While bearish on the surface, it occurred because the shares jumped on a strong quarterly report. They were overbought at the time, but over the longer run investors may be more interested in the consensus-beating profit and revenue numbers.
Finally consider the line around $69, which is near the peaks of October 2019 and last month. That may create the potential for a move if prices break out.
This could be especially interesting given the macro backdrop, with increased travel as the economy reopens. Energy is also the best performing sector in 2021. Will there be bandwagon buying into the holidays and window dressing into yearend?
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Marathon Reaches IntermissionWith an overlapping wave structure since its inception, Marathon has seemingly finished Wave 3 of its apparent diagonal wave. With Wave 3 being longer than Wave 1, it should also be expected for Wave 4 to be longer in price length than Wave 2. This makes it very probable for share price to see a 50% shave over the next couple-few years. A drop below the yellow line is nearly mandated currently (unless a new all-time high is secured). Holders should look for the most suitable exit in order to avoid more losses than necessary.
(Wave analysis has been redacted from this marking however, wave-by-wave analysis will be tracked via link in bio).
MPC - Still a long way to go to find harmony and balanceMPC (along with all refiners) appear considerably cheap to replacement value. MPC's chart pattern indicates it has placed in an upward sloping wedge formation.
PetroChina building refining capacity to the tune of $70,740 per refined barrel. This is above the industry average of $32,800. With these new figures in place,
industry replacement value offers a substantial upside. Cash Flow, Share Buy-Backs, Cash Levels are all strong!
MPC - Earnings play. Expected to increase Q/Q by a wide margin1 1/2 month H&S bottom bullish pattern. Pull backs light and normal. Today's print is a hammer candle.
You don't need to know what's going to happen next to make money ~Mark Douglas
Lose like a pro and keep trading, or lose like a novice and quit ~Mark Ritchie
MPC oil going to $65 global slowdown on the horizon$7 a gallon gasoline here in California, layoffs have begun, 6.5-7% interest rates on a 30 year mortgage, demand will slow as the layoffs pick up speed and worldwide slowdown has begun. Too many have been crowding the energy trades and longer term oil will be much lower. MPC has experienced a dead cat bounce likely nothing more....
MPC Strong rebound from Fibo, possible more upside?? MPC has rebounded strongly from pullback to 50% Fibo at 82.27.
Potential upside if breakout and stay above trendline @ $83.21. Looking at multiple profit levels upside.
Potential TP @ 89.71 / 96.54 / 102.98 / 104.7 / 109.27 / 112.52 and 114.06
Disclaimer
10-15% in the next 2 weeks opportunities..!Entry: at the opening price
Stop loss: 74.7
Reward/Risk: 2
Target range: 88-90
Time Frame: 1-2wks
Possible gain: 10-15%
Possible loss: 5%
Position size: % of trading capital
You can see the most important support(green line) and resistance (red line) levels.
Best,
Dr. Moshkelgosha M.D
DISCLAIMER
I’m not a certified financial planner/advisor, a certified financial analyst, an economist, a CPA, an accountant, or a lawyer. I’m not a finance professional through formal education. The contents on this site are for informational purposes only and do not constitute financial, accounting, or legal advice. I can’t promise that the information shared on my posts is appropriate for you or anyone else. By using this site, you agree to hold me harmless from any ramifications, financial or otherwise, that occur to you as a result of acting on information found on this site.
MPC primed to go back to ATH over the next year.MPC primed to go back to ATH over the next year.
MPC continued its trend of beating earnings 4 quarters in a row. Even though this time it was slightly less than expected, the stock dropped slightly, but only to the next Fibonacci level, which also happens to be the lower bound of the parallel channel it finds itself in. Some positive momentum and a high oil price will push this upwards.
This is long term hold for me.
MPC Trending Higher Towards 75Trend Analysis
The main view of this trade idea is on the 2-Hour Chart. The stock MPC appears to have broken out from a symmetrical triangle setup, with the resistance line making lower highs of 65.30 and 60.50 and the support line making higher lows of 50 and 53.30. The stock broke 2 levels of resistance, one at the resistance trend line of the symmetrical triangle and the other at a horizontal resistance level of 65.30. Expectations are for MPC to continue higher and test the 75 price level. If the pattern fails, MPC can decline back below the 65.30 resistance.
From a longer term perspective MPC is trending higher, with support observed around the 64.72 price level.
Technical Indicators
The technical indicators corroborate the bullish trending nature of MPC. The stock is trading above its short (50-MA), medium (100-MA) and long (200-MA) fractal moving averages. The RSI is above 50 and the KST just recently had a positive crossover.
Recommendation
The recommendation will be to go long at market, with a stop loss at 64.70 and a target of 75. This produces a risk/reward ratio of 1.75.
Disclaimer
The views expressed are mine and do not represent the views of my employers and business partners. Persons acting on these recommendations are doing so at their own risk. These recommendations are not a solicitation to buy or to sell but are for purely discussion purposes.
