Open long, week 15 of management
Marathon Petroleum stock gains just 1.5% as the 367 area high rejects it again
Our view last week
After last week's pullback, buyers came back in force on Marathon Petroleum stock: +19.2% in five sessions, 92% of volume on the buy side, and a weekly RSI already at 75.3. On the daily chart, though, a sequence of lower highs — from the 327 area down to the 316 area — points to a short pause. Marathon Petroleum stock is boxed between support in the 352 area and resistance in the 356 area, with the trade's residual capital up 45.15% since entry.
This week's summary
Marathon Petroleum stock closed the week with a modest +1.5%, after last week's 19.2% surge, and the 7-day high, in the 367 area, rejected the price for the third time in a row. Sellers slightly prevailed on the last bar and money flow turned lower after a week of growth: the rally is catching its breath. The trade is up 47.3% since entry.
IQS Phase
68
in tension
Signal Strength
66
medium
Sizing
STANDARD
Ranking
#28 / 167
US stocks in progress
Trade P&L %
+47.31%
from signal to date, no stop loss
Rank position
ranks 28th among the 167 Longs already running for US stocks in our ranking, with a signal strength of 66 out of 100.
Sector context
SectorEnergy
Benchmark ETFXLE
Sector regimein strong phase
Performanceweekly +2.79% · monthly +7.50%
MPC belongs to the energy sector (reference ETF XLE). The sector is classified in strong phase according to our weekly reading.
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