MRO trade ideas
MRO UpdateLooks like we're in a bit of a consolidation period/bull flag with MRO. This is looking great for the long-term as demand will go up in the near term. Long-term calls are very cheap around $1.00 per contract for October 2020 and January 2021. We have $5 and $6 strikes and a a chunk of shares to hold for >1 year.
MRO BUY? Ive been following this stock since March 20th when it was at $3.33. I bought volume, and the profits have been pretty solid with the stock now at $6.03 as I write this. The earnings are being released tomorrow, which will either bump the price up, or knock it down. Judging how its been trading for the past 4 months, I believe the earnings will be DECENT, and the price may very well end up being $8.00 after the earnings are released. I'm not telling you what to do with your money, but this stock has some serious potential to bring some long term gains into play.
MRO: Finally pops! Up 24% in one day!The accumulation we were seeing finally popped MRO above $6 after hours. All of our options are now ITM with the June calls up nearly 200%. We saw this coming with the amount of accumulation we saw last week. Huge momentum now to the upside. Holding a mix of shares and options into earnings next week. Congrats to those who played this with us and held out!
MRO Get In While You Can - WAIT for Re-TestAll,
MRO opened above resistance as expected. Be patient and wait a few hours or so for conformation and testing of support. Remember this is a gap. Could even fill gap same day. Be careful and set stop losses.
Marathon Oil Possibly Long SoonI want it to break above into that blue line and re test it. Which is a demand zone typically for Marathon Oil.
Cup and Handle Formation for a Possible Long SetupWhat I see...
+ Cup & Handle
+ Significant accumulation since early April
+ Rising MACD
+ Very strong weekly chart with multiple bullish break-out signals
+/- Earnings ahead!
- Multiple gap-ups in the past few days
- -1d high breached Cup/Handle high but retraced
- Price approaching falling 50MA = potential resistance
- Lots of upper shadows throughout past week
Game Plan...
Long entry above -1d high
Stop at -2d low
Target at Low back in early March to fill the gap
MRO: An Alternative to USO for those who want to trade OILFrom our last post, we are STILL diverging to the upside with MRO. It is pretty impressive how it has remained at this level despite the huge swings in oil futures and the decimation of USO. Even with the increase in futures prices today, USO still went down. I understand this is frustrating for traders who are new to USO, but this is expected unless futures rise DRAMATICALLY. Research how USO works and you'll see what I mean.
Despite all this, MRO has been holding up well and we have accumulated June and October CALLS around $5 and $6 strikes. The greeks look great and project more than 100% gain if MRO pops to $6, which it very may well do.
MRO update 04-21-20Wow, finally figured out my problem. I cant switch between charts when recording.
MROLong term hold for myself.
Bought at 4$, looking to hold at least until 25$ and more. Through my Backtesting, structure always play out very well on this Stock and Patterns are very reliable.
Descending Channel visible on all TF´s, 3 touch Pattern with a Middle Section just before the 3rd Rejection, which means completion.
On the 4H we can see a lovely Descending Channel with 3 touches and a strong push up. At the moment price is forming a nice Bull Flag which can be the beginning of a Up move.
Looking to complete this Pattern all the way to the upside.
Even if price drops lower, which is possible, I am happy to enter here and playing this High Valuable Area. Is the Area that I am playing.
MRO DivergenceAlthough MRO has stayed mostly flat for past few weeks, the RSI has been showing very strong divergence to the upside and the accumulation has been going up. This stock may be getting ready to make a move. However, note the upcoming earnings and play accordingly.
weird dinosaur mud makes my new car go vrooom.like 0% chance of losing money in this trade, ISIS and the homo-haters are making a deal to slow down the amount of Dino mud barrels.
MRO on the weekly! BULLISHYou got to be kidding me oil is way over sold on the RSI. I know I made a TA for MRO yesterday but that's for the lower time frames. On the weekly, this is a freebie. BUT can we go lower first?
*Not financial adviser
MRO heavy volume and tightening rangeMRO seems to be floating around 3.50 lately, however there is a lot of consolidating going on and the weekly shows this stock is oversold. We are now forming a rising channel on the lower time frame as well. A big move is bound to happen very soon possibly in the next couple days. Could be a dollar move. It's not easy to tell where this one exactly will be going at the moment.
Bulls have advantage because they are above the 55 purple moving average line.
Bears have divergence on the RSI and the MACD looks freshly red but could change if bulls show up tomorrow.
If bulls move more above the EMA lines I would change from neutral to long and buy.
*Not financial advisor
MRO - MARATHON OIL CORP ---- Is it Bottom? Any Thoughts?NOTE:
These are just my opinions. My messages or chart analysis are
NOT intended as a recommendation to buy or sell any FX, cryptocurrency or asset.
Do Your Own Research.
MRO 3/31 - MARATHON OIL CORPORATIONMRO 3/31 - MARATHON OIL CORPORATION
NYSE:MRO
Potential to grow again to $18.97 (3/4). Price very Cheap and hold it. We're going to start seen grow and profit at soon the coronavirus disappear.
Different between: 8.26 - 3.30 = $4.96 per share
Excellent Profit!!!
$MRO Trading At Trendline Support$MRO is an oil name that looks interesting with crude at $20 a barrel. $MRO is pretty strong financially and trades at just 0.21x book, 3.28x cash, and 1.13x FCF.
There's also been a lot of insider buying recently.
Insider Trading Relationship Date Transaction Cost #Shares Value ($) #Shares Total SEC Form 4
TILLMAN LEE M Chairman, President and CEO Mar 24 Buy 3.62 28,600 103,406 1,137,230 Mar 25 04:50 PM
TILLMAN LEE M Chairman, President and CEO Mar 23 Buy 3.38 28,000 94,581 1,108,630 Mar 25 04:50 PM
TILLMAN LEE M Chairman, President and CEO Mar 16 Buy 4.00 27,500 110,000 1,080,630 Mar 17 04:34 PM
TILLMAN LEE M Chairman, President and CEO Mar 13 Buy 4.21 22,500 94,660 1,053,130 Mar 16 04:32 PM
TILLMAN LEE M Chairman, President and CEO Mar 12 Buy 3.84 25,000 95,998 1,030,630 Mar 16 04:32 PM
Marathon Oil Corporation operates as an independent exploration and production company in the United States and Equatorial Guinea. The company engages in the exploration, production, and marketing of crude oil and condensate, natural gas liquids, and natural gas; and the production and marketing of products manufactured from natural gas, such as liquefied natural gas and methanol, as well as owns and operates 32 central gathering and treating facilities and the Sugarloaf gathering system, a 42-mile natural gas pipeline through Karnes and Atascosa Counties. As of December 31, 2019, it had estimated proved developed reserves totaling 721 million barrels of oil equivalent (mmboe); and estimated proved undeveloped reserves totaling 484 mmboe. The company was formerly known as USX Corporation and changed its name to Marathon Oil Corporation in July 2001. Marathon Oil Corporation was founded in 1887 and is headquartered in Houston, Texas.
As always, trade with caution and good luck to all!
