Marathon Petroleum Corporation : Still a great upward potential
By Alexandre Nutte
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
$46.83 | $0 | $43.8 | -100% |
The economic and financial situation of the company is still strong. Estimated sales from Thomson Reuters consensus are encouraging.
Technically, the security shows a bullish configuration on all time scales. Prices are supported by increasing moving averages. In weekly data, 20-week moving average helps the stock to keep its uptrend.
In consequence, investors can take a long position in Marathon Petroleum with a first target price at USD 51.8. This level is the long term resistance. A new bullish fluctuation could lead the security toward its highest level in case of breakout of this resistance. A stop loss will be fixed under the 20 day moving average at USD 43.8.