MARATHON PETROLEUM - Daily - Technical analysis published on 06/26/2019 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Slightly bearish
Technical indicators
78%
0%
22%
My opinion
Bullish above 48.03 USD
My targets
57.50 USD (+7.54%)
67.18 USD (+25.64%)
My analysis
The current short-term bullish trend is expected to quickly reset the neutral or bullish trend. To avoid contradicting the short term, it would be possible to favour long positions (at the time of purchase) for MARATHON PETROLEUM as long as the price remains well above 48.03 USD. The buyers” bullish objective is set at 57.50 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 67.18 USD. If there is any crossing, the next objective would be the resistance located at 73.16 USD. As the basic trend is not clearly displayed, attention should be paid to the price reaction to the resistance at 57.50 USD. On this resistance, against the trend traders who would like to go short on MARATHON PETROLEUM with a bearish signal from their trading strategy, should not hesitate to act.
Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.
This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The MARATHON PETROLEUM price is 53.47 USD. The price has increased by +4.05% since the last closing and was between 51.91 USD and 53.85 USD. This implies that the price is at +3.01% from its lowest and at -0.71% from its highest.51.91
53.85
53.47
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:
Technical
A technical analysis in Daily of this MARATHON PETROLEUM chart shows a slightly bearish trend. 57.14% of the signals given by moving averages are bearish. Caution: the strong bullish signals currently being given by short-term moving averages indicate that this slightly bearish trend could quickly be reversed. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, according to the parameters integrated into the Central Analyzer system, 14 technical indicators out of 18 analysed are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
The analysis of the price chart with Central Patterns scanners does not return any result.
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects this inversion signal that could impact the current short-term trend:
Doji
Type : Neutral
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 36.28 | 41.37 | 48.03 | 53.47 | 57.50 | 67.18 | 73.16 |
| Change (%) | -32.15% | -22.63% | -10.17% | - | +7.54% | +25.64% | +36.82% |
| Change | -17.19 | -12.10 | -5.44 | - | +4.03 | +13.71 | +19.69 |
| Level | Minor | Intermediate | Major | - | Major | Major | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 50.02 | 50.56 | 50.97 | 51.51 | 51.92 | 52.46 | 52.87 |
| Camarilla | 51.13 | 51.22 | 51.30 | 51.39 | 51.48 | 51.56 | 51.65 |
| Woodie | 49.97 | 50.53 | 50.92 | 51.48 | 51.87 | 52.43 | 52.81 |
| Fibonacci | 50.56 | 50.92 | 51.14 | 51.51 | 51.87 | 52.09 | 52.46 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 43.77 | 45.76 | 49.21 | 51.20 | 54.65 | 56.64 | 60.09 |
| Camarilla | 51.16 | 51.66 | 52.16 | 52.66 | 53.16 | 53.66 | 54.16 |
| Woodie | 44.50 | 46.12 | 49.94 | 51.56 | 55.38 | 57.01 | 60.82 |
| Fibonacci | 45.76 | 47.84 | 49.12 | 51.20 | 53.28 | 54.56 | 56.64 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 60.96 | |
| MACD (12,26,9): | 0.0200 | |
| Directional Movement: | 13.77 | |
| AROON (14): | 92.86 | |
| DEMA (21): | 49.90 | |
| Parabolic SAR (0,02-0,02-0,2): | 48.32 | |
| Elder Ray (13): | 2.29 | |
| Super Trend (3,10): | 48.38 | |
| Zig ZAG (10): | 53.37 | |
| VORTEX (21): | 1.0400 | |
| Stochastique (14,3,5): | 81.26 | |
| TEMA (21): | 51.53 | |
| Williams %R (14): | -7.64 | |
| Chande Momentum Oscillator (20): | 5.59 | |
| Repulse (5,40,3): | 2.2700 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.2700 | |
| Courbe Coppock: | 15.31 |
| MA7: | 51.48 | |
| MA20: | 48.94 | |
| MA50: | 52.88 | |
| MA100: | 57.21 | |
| MAexp7: | 51.49 | |
| MAexp20: | 50.41 | |
| MAexp50: | 52.52 | |
| MAexp100: | 55.96 | |
| Price / MA7: | +3.87% | |
| Price / MA20: | +9.26% | |
| Price / MA50: | +1.12% | |
| Price / MA100: | -6.54% | |
| Price / MAexp7: | +3.85% | |
| Price / MAexp20: | +6.07% | |
| Price / MAexp50: | +1.81% | |
| Price / MAexp100: | -4.45% |
News
The latest news and videos published on MARATHON PETROLEUM at the time of the analysis were as follows:
- Marathon Petroleum Corp. Announces Retirement Of Speedway LLC President Anthony R. Kenney, Names Timothy T. Griffith As Successor
- Marathon Petroleum Corp. Appoints Donald C. Templin Executive Vice President And Chief Financial Officer
- Marathon Petroleum Corp. Reports First-Quarter Results
- Capline Pipeline Company LLC Announces One-Week Extension to Capline Reversal Binding Open Season
- 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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