Marathon Petroleum is trading in a bullish trend and several elements argue for the continuation of this trend.

The company’s fundamentals are still strong. Sales are up + 3.3% for one year. Analysts from Thomson Reuters consensus have revised largely upward their EPS estimates. The last EPS was at USD 6.67.

From a technical viewpoint, the security is trading in a bullish trend in the short and the long term. Increasing moving averages let think there will be no reversal in the coming trading sessions. This growth should help to reach soon the USD 69.65 long term resistance in weekly data.

Therefore, taking into account the strong fundamentals and technical patterns, it seems opportune to take a long position at the current price in order to benefit from a possible reversal. The first target price is the USD 69.65 resistance. A breakout of this level will be a new bullish signal for higher target price. A stop loss will be fixed under the USD 53 level, threshold that would invalidate this trading strategy.