MPC
MPC - Earnings play. Expected to increase Q/Q by a wide margin1 1/2 month H&S bottom bullish pattern. Pull backs light and normal. Today's print is a hammer candle.
You don't need to know what's going to happen next to make money ~Mark Douglas
Lose like a pro and keep trading, or lose like a novice and quit ~Mark Ritchie
MPC oil going to $65 global slowdown on the horizon$7 a gallon gasoline here in California, layoffs have begun, 6.5-7% interest rates on a 30 year mortgage, demand will slow as the layoffs pick up speed and worldwide slowdown has begun. Too many have been crowding the energy trades and longer term oil will be much lower. MPC has experienced a dead cat bounce likely nothing more....
10-15% in the next 2 weeks opportunities..!Entry: at the opening price
Stop loss: 74.7
Reward/Risk: 2
Target range: 88-90
Time Frame: 1-2wks
Possible gain: 10-15%
Possible loss: 5%
Position size: % of trading capital
You can see the most important support(green line) and resistance (red line) levels.
Best,
Dr. Moshkelgosha M.D
DISCLAIMER
I’m not a certified financial planner/advisor, a certified financial analyst, an economist, a CPA, an accountant, or a lawyer. I’m not a finance professional through formal education. The contents on this site are for informational purposes only and do not constitute financial, accounting, or legal advice. I can’t promise that the information shared on my posts is appropriate for you or anyone else. By using this site, you agree to hold me harmless from any ramifications, financial or otherwise, that occur to you as a result of acting on information found on this site.
MPC Trending Higher Towards 75Trend Analysis
The main view of this trade idea is on the 2-Hour Chart. The stock MPC appears to have broken out from a symmetrical triangle setup, with the resistance line making lower highs of 65.30 and 60.50 and the support line making higher lows of 50 and 53.30. The stock broke 2 levels of resistance, one at the resistance trend line of the symmetrical triangle and the other at a horizontal resistance level of 65.30. Expectations are for MPC to continue higher and test the 75 price level. If the pattern fails, MPC can decline back below the 65.30 resistance.
From a longer term perspective MPC is trending higher, with support observed around the 64.72 price level.
Technical Indicators
The technical indicators corroborate the bullish trending nature of MPC. The stock is trading above its short (50-MA), medium (100-MA) and long (200-MA) fractal moving averages. The RSI is above 50 and the KST just recently had a positive crossover.
Recommendation
The recommendation will be to go long at market, with a stop loss at 64.70 and a target of 75. This produces a risk/reward ratio of 1.75.
Disclaimer
The views expressed are mine and do not represent the views of my employers and business partners. Persons acting on these recommendations are doing so at their own risk. These recommendations are not a solicitation to buy or to sell but are for purely discussion purposes.
GBPUSD: SELL signal on BOE meeting (3/3).In a few hours, the Bank of England is to publish data on the interest rate, the volatility on GBPUSD will increase significantly as usual, and a range of price consolidation is already being traced. I believe that until the moment of publication, we will grow a little more and after that we will fall by the traditional 100-150 points.
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1.4000 SELL
1.3930 target 1
1.3870 target 2
If you like my idea, please get the like and write your opinion in the comments.
MPC - 8.83% or 32.75% Profit Potential - Bearish PennantBearish Pennant formed out of a 2-month correction.
Target price set at new potential 2-month Support bounce. If we break through this new support line, rather than bouncing at $33.47, there is a possibility to hit a 2-year downtrend support line at $23.71.
- Historical Downtrend (1 year)
- RSI and STOCH below 50
- MACD below Signal
Suggested Entry $36.04
Suggested Stop Loss $37.15
Target price $33.47 (moderate) or $23.71 (aggressive)
Note that I tend to adjust stop losses in order to secure profits early and preserve capital. This means that the target price is going to be achieved as long as there are no strong pullbacks that trigger my new adjusted stop loss.
MPC - 6.02% Potential Profit - Bullish PennantClear uptrend Support with a Bullish Pennant forming and price about to break-out.
Target price set at a new potential resistance line. Once broken, it might have the potential for a greater run.
- 5-month uptrend
- RSI above 50
- STOCH approaching 50
- MACD above Signal
Suggested Entry $39.35
Suggested Stop Loss $38.61
Target price $41.72
Note that I tend to adjust stop losses in order to secure profits early and preserve capital. This means that the target price is going to be achieved as long as there are no strong pullbacks that trigger my new adjusted stop loss.
$MPCEarnings tomorrow + very bullish news.
🔥 $MPC
Marathon Petroleum announces agreement for $21B sale of Speedway (thefly.com)
Marathon Petroleum announced that it and certain of its subsidiaries have entered into a definitive agreement with 7-Eleven, a wholly owned, indirect subsidiary of Seven & i Holdings, whereby 7-Eleven will acquire Speedway for $21B in cash. The transaction is expected to close in the first quarter of 2021, subject to customary closing conditions and regulatory approvals.
Better Alternatives to MPC in Petroleum Sector Clearly, moving averages show that MPC is headed towards increased gains. However, it is having a difficult time convincingly breaking through downward short-term resistance. Moreover, oscillators at the monthly chart suggest a sell as do oscillators for the daily chart, primarily RSI and momentum. However, if you look at the comparison between other ways to invest in oil such as Brent crude, WTI, or one of the most liquid oil ETFs, MPC clearly is under-performing recently. MPC just barely beat out the S&P 500's energy sector while more of the liquid petroleum assets all greatly outperformed. The dividend yield per share is only 1.8 percent while the stock price is 11 times earnings. Overall, I am not confident in this stock's strength compared to its peers or its technicals. However, this does not mean the price won't go up, it just won't go up as high as other alternatives if the price of oil continues to climb. Because of this, if you are bearish on oil then you should get into the sector, but MPC is probably not the best way to do that.
Crak'n Up - Refiners Are Not At A Level Worth Buying Yet"Refinery stocks are not ripe just yet, especially with crack spreads as weak as they are. We're already seeing three of the top four holdings in CRAK begin to roll over, including Marathon, Velaro, and Holly Frontier. Phillips 66 is the outlier.
We continue to wait for CRAK to reach to range bottom with a confluence of crack spreads. If refiners continue to breakdown, we'll revisit prior to the summer gas demand season."
CRAK intermediate TACVOL
CRAK 31.88/26.16
MPC 71.04/56.04
PSX 104.02/82.85
HFC 67.49/45.38
VLO 92.70/69.64
$MPC Marathon Petroleum - Inverse Head & Shoulders Breakout$MPC Marathon Petroleum - Headed for a close above neckline resistance. Expecting continued follow through into next week.
Medium term target $95-$100 area possible by next ER late October.
Note: Informational analysis, not investment advice.
Clear proof you should avoid shorting and HODL LTCI've followed a few posts of MagicPoopCannon and it's painful to read. This is probably going to be a lot of writing.
In early posts, he states "past success is not indicative of future success" and HODLing is for idiots. He says BTC/LTC doesn't pay dividends and shorting is for people who want to make money. He then talks about his ego and whatnot. After numerous people started following his style of things (shorting), he's now made a post about how the market is basically doomed. People also talk about intrinsic value and whatnot.
1. There is not a single Bitcoin multi-billionaire through shorting. You can argue it's because they entered the market early, but the price dropped in the past and there's been shorters in the past.
2. To short, you have to have your coin on an exchange, this is not only insecure (the exchange can be hacked & some don't offer insurance), but you potentially miss out on a fork.
3. A fork is the closest thing we have to dividends. There's no real reason to be discussing dividends anyway, as cryptocurrencies are, by their very name, a currency. However, if you want to draw parallels to stocks, I'd argue a fork is a better payout than what the GBP gave with the brexit crash.
4. Forks are why it is logically impossible for Bitcoin to go to 0. You see, if Bitcoin drops to 0, I will buy all of them. Then when someone thinks of a better currency based on Bitcoin, I'll be the worlds most wealthy person.
5. Intrinsic value doesn't really exist. We have no worth. What we make has no real worth. The world will go on without us. A phone has no worth if no one else uses it. The internet has no worth if no one else connects. A car has no worth if you have no destination to go to. Paper cash has no worth if tomorrow the government says it's banned. The only value to something is belief. If you believe something is valuable, it becomes valuable.
6. When traders trade, they look for patterns i.e. they use past success and failure, to indicate future success and failure (yes, I know, MPC said past success isn't indicative of future success, shocker, he was wrong). If people think the value is going to increase and then stop at point X, they will sell just before point X. When this creates waves, the waves get smaller over the same time scale because people stop slightly before each time, to make sure they make the sale. When the waves flattern out or at the end of the wedge, their belief changes which is why the price suddenly changes more. This creates instability.
7. Whether you chart 1min, 5min, 15min, 1hr, 4hr, 1day, 1week, 1month, 1year, doesn't matter. By believing the price will change and following the same patterns as others, you instigate the price changing. It is a self-fulfilling prophecy.
8. MPC's calls were most accurate when he had the most viewers. He had 1 million viewers in 1 month. Imagine 1 million people all betting $10k on LTC at a resistance level. That is more than enough to influence the price. In other words, it's an elaborate pump and dump group, a self-fulfilling prophecy at best. He's not the only trader to do this. There are millions of traders influencing people to buy and sell.
9. Millions of people buying and selling on cue != Whales pumping/dumping.
10. If everyone holds, the price rises. The price can ONLY rise if people don't sell. You can argue that if you hold, the price drops and you lose money, but that ONLY works if people are shorting. HODLing works, but don't criticise the strategy if it's not being followed.
11. HODLing forever is bad because you don't want exponential increase all the time. However, things are very new still. Companies like amazon, ebay, etc. haven't got aboard, but while the price is jumping around and mostly going down, they're going to be less interested. If you HODL, you help stabilise the market or at least help it look positive.
12. Lasers, microwaves, cars, the internet, books, phones, television, smartphones, etc. were all hated. Tech prevails
Bitcoin Bulls, Billionares and FOMO, love this game!Hello again friends, I am pleased to bring you my report after the last few days of carnage on the markets.
Even the most technical trader should always be mindful of the fundamentals and check with themselves if it has an effect on the market.
So as a rare treat here is a little fundamental breakdown, just my opinion.
The media manipulated fudstorm really gave the newbies a run for their money, with the “China Ban” news regurgitated I think 4 times, the India news told in every bearish setting imaginable and naturally the cryptopians in the USA were FREAKING OUT (well some anyway).
As soon as America heard that it was going to be ok, and that the fed probably bought the dip, we saw the bulls piling back into the picture. So bubbles get created out of some misunderstanding, they pop and correct themselves (some need help from the media) and birth new understanding for many new market participants.
So fundamentally I would say the entire crypto space is still incredibly bullish and I am still a bull. (and a bear when I need to be)
Lets take a look at the very long term picture, I will examine certain events in the past to help us get an idea of where the market might be heading.
I know markets are very different than they were in 2013 and 2012, the reason I want to show this rsi is that we can clearly see the first drop in 2013 was met by the rally of 2014, before crashing and going sideways before the next bubble popped, where we find ourselves today.
Given all the bullish fundamentals, and there are really too many to mention – more positive crypto news every day, not even to mention the masses of people getting into crypto:
I am going to opt in for the first option (1st purple arrow) as a probability. Which means we could see the next major bull run this year taking us into 2019.
However please be mindful of the bearish pressure on the chart, I am pretty sure it will be a choppy ride until we recover above $8600, however it could be as soon as Feb 16th when Asia gets back from holiday.
This was your Humble Market Wizard, weak hands will go cry to mommy, hodl my hodlums.
Come hang out with us here for free .
Still listening to MPC and waiting at $7500!? Don't miss out YO!Quick update on the BTCUSD market for the short term. Some analysts will have you guys waiting till you are old and grey at unrealistic SHORT TERM targets.
We can see a lot more positive fundamental news coming out this weekend and the chart is reflecting that confidence.
We can see that there is a nice channel building and the RSI is ticking higher confirming, at least on the very near term, that the bulls are here.
We have some bullish candlestick formations within our channel and I would expect a break above the channel to gather some good bullish momentum.
I think the futures closed a lot higher than many expected and this has summoned some confidence back into the market.
We broke out of our immediate down trend but prices are still getting rejected by the 10 MA, which could mean a bit more see-saw action in the 10500 – 12200 zone.
Please note there is heavy resistance around 13k and we will wait for that level to break to confirm a bullish trend.
SCARED ABOUT GOING BELOW 10k?
Here is the deal, to all those fearing the drop to $7500, set up some low buy order in those zones, should btc fall below 10k (some miraculous disaster), short that sucker with leverage and buy back even more lower.
Just take care your shorts don't get rekt while we prepare to test 20k again. ;)
Feel free to come and hang out with real Crypto traders for free.
MPC: Long term uptrend signal$MPC has an excellent long term uptrend signal at play here. If not long you should average in over 3 days at least, risking a drop to 43.42, or 3 daily average ranges down. Targets are 89.66 and potentially up to 143.09 in the long run, to be hit by or before Q4 2019.
My mentor, Tim West has been adamant about $MPC's strengt, and so far he's been right. This stock has shown relative strength, selling off less than its peers and rallying more and with lower volatility, indicating that there are some big players involved, buying in the background.
Fundamentals are great for this company, and valuation is compelling, so it's a really low risk trade.
I'd reccomend holding this and $PBF for exposure in this sector.
Good luck,
Ivan Labrie.