MPC (Marathon) following the overall trend in energy stocks. this particular stock is part of the S&P energy sector index.
The daily graph shows a confirmed ascending triangle with price target of 106.93$ (Left graph).
The weekly chart shows another ascending triangle on the weekly (not confirmed) with price target of 138.82$. Still needs to break the 70$ resistance to confirm (Top right).
The sector graph (Energy, bottom right) is building into an ascending triangle (not confirmed). It still has to break through resistance level at 460$ to confirm uptrend. If confirm, the sector as a whole may see a 77% increase. This, if confirm, will help MPC hit the price targets. Watching for now until a clear break in the sector shows.
Stay humble, have fun, make money!
The daily graph shows a confirmed ascending triangle with price target of 106.93$ (Left graph).
The weekly chart shows another ascending triangle on the weekly (not confirmed) with price target of 138.82$. Still needs to break the 70$ resistance to confirm (Top right).
The sector graph (Energy, bottom right) is building into an ascending triangle (not confirmed). It still has to break through resistance level at 460$ to confirm uptrend. If confirm, the sector as a whole may see a 77% increase. This, if confirm, will help MPC hit the price targets. Watching for now until a clear break in the sector shows.
Stay humble, have fun, make money!
Trade closed: target reached:
Hope some of you guys had this stock in you portfolio. It filled 100% of all targets I had prepared. May be done for now though.
