MRO Analysis
After an eventful day in which we saw large amounts of volume drive down MRO, I still believe long term this stock is gold and how even today, a red day can be reflective of how sturdy this stock is. Furthermore, I predict the price could consolidate in this range for a little bit of time due to the fact it will need to push through .236 level of resistance once again now and continue upwards, however, the market fluctuation is natural and as you can see also we have a very low RSI with the W shape and on top of that if we use the nice convergence point of the MAC D - I think tomorrow we will sill this stock hold and not break and could potentially have a day in the green tomorrow. I firmly believe we can potentially see $6 easily by next week's end if reopening goes as planned even if slow and incremented. Bottom line IMO this stock is a tank and is one well worth investing in whether through options trading or buying and holding shares. Lastly, by looking at MACD we can see the obvious divergence that is occurring as sellers are losing momentum giving a potential chance for a jump upwards tomorrow at market open - times we are in may feel like things are over, but they are not and I believe in this stock and this economy long term. Let me know ab any feedback!!
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