Stoploss.ch

Marathon Oil - A top performer in the S&P 500

by Tim Straiton
Saturday 27th March 2021

Current price is $11.09 and trading 40% above its rising 200 day moving average pf 6.63. After rallying more than 200% since October 2020, Marathon Oil has moved closer to fair valuation. A buying opportunity will arise should the stock fall back to the rising channel support at 9.55.

Resistance is seen at $13.42 which is the 50% Fibonacci retracement level from the low based on the entire 23.72 - 3.12 range seen since October 2018. Should this level give way, then further upside potential is seen towards 15.85 (Fibo 61.8% retracement from the low) and thereafter at 18.85 (Fibo 76.4% retracement from the low).


 

Charts courtesy of

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The Elasticity Toolkit for Metastock was created to obtain maximum gains in both sideways and trending markets with minimum risk. Developed by Timothy Straiton, the system performs with incredible results in almost all equity markets with a daily periodicity. The Elasticity trading system focuses on short-term market fluctuations and takes advantage of deviation or "elasticity" from the mean price. Imagine the action of a rubber band being stretched and at the moment where the expansion loses momentum, a contraction takes place, forcing movement in the opposite direction. The Elasticity trading system signals a trade at the moment the deviation from the mean loses momentum.


Price: $699.00