Marathon Oil Corporation (MRO) “On a long-term technical basis, the stock (MRO) is trading below its 200-day moving average which generally implies it is in a negative trend. However, the stock has broken up through an important long-term fibonacci resistance level at 3.67 suggesting the long-term down trend could be turning neutral. If this new level of support at 5.55 holds, look for a move higher to the next resistance level at 6.03.

The stock has support at 5.55 and 5.25. If the stock breaks down through support at 5.55 then it will probably continue lower to 5.25. The stock has resistance at 5.72 and at 6.03. If the stock breaks up through resistance at 5.72 then it will probably continue higher to 6.03. The 200-day moving average is at 8.84. This will also act as resistance. The stock is extremely oversold according to the Stochastic Indicator (16.13), and turning up, which suggests a pause or possible rebound, especially if near support. Confirm this with the Short-Term and Daily Outlook to keep from exiting prematurely.”