MPC closes within previous day's range after lackluster session

Marathon Petroleum (MPC) Technical Analysis Report for Sep 14, 2018

Highlights

MPC runs into sellers again around 84.74
MPC rises to highest close since Inception
MPC closes within previous day's range after lackluster session

TQ Sentiment

Report Sentiment: 33% Bearish
Technical Forecast:

Overview

MPC finished the week 2.22% higher at 84.34 after gaining $0.25 (0.3%) today on low volume. Today's closing price of 84.34 marks the highest close since Inception. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range in a lackluster session.

Daily chart for MPC

Volatility

Friday's trading range was $0.86 (1.02%), that's far below last trading month's daily average range of $1.72. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average.

Support/Resistance

Prices are trading close to the key resistance level at 85.08. After having been unable to move above 84.54 in the previous session, the share ran into sellers again around the same price level today, failing to move higher than 84.74.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Order Flow

Buying might speed up should prices move above the nearby swing high at 85.22 where further buy stops could get triggered. Selling might accelerate should prices move below the close-by swing low at 82.87 where further sell stops could get activated.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Marathon Petroleum

Loading Market Conditions for $MPC (Marathon Petroleum)...
Latest Report:

MPC finds buyers at key support level

Sep 21, 2018
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Marathon Petroleum traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Find out more
Top Market Movers

Related Stocks

ANDV 10 day candlestick chart for ANDV 154.73 2.17 (1.42%)
APA 10 day candlestick chart for APA 45.96 0.29 (0.63%)
APC 10 day candlestick chart for APC 64.64 0.78 (1.22%)
AR 10 day candlestick chart for AR 19.08 -0.71 (-3.59%)
AXAS 10 day candlestick chart for AXAS 2.40 0.05 (2.13%)
BHGE 10 day candlestick chart for BHGE 32.90 0.44 (1.36%)
CDEV 10 day candlestick chart for CDEV 20.83 0.35 (1.71%)
CHK 10 day candlestick chart for CHK 4.44 0.03 (0.68%)
CLR 10 day candlestick chart for CLR 62.23 0.48 (0.78%)
CNX 10 day candlestick chart for CNX 14.61 -0.09 (-0.61%)
You have free reports remaining. Subscribe for unlimited access...SUBSCRIBELOGINGO!