Momentum returns
Marathon Petroleum climbs 2.3% as buyers retake control ahead of earnings
Momentum returns
Our view last week
Marathon Petroleum's rally is losing steam: sellers ruled the last session and buyer dominance is collapsing, even as the stock still sits within reach of its all-time highs after a week that gave back 1.1%. For anyone tracking Marathon Petroleum stock, our weekly technical analysis shows a mature buy setup, in its 11th week and already up 26.29% since entry, with the stop moved up to protect most of the gain.
This week's summary
Buyers are back in charge on Marathon Petroleum: the week closes up 2.3% with 93% of volume on the buy side and the ADX climbing, a sign the trend is regaining conviction after last week's pullback. Our weekly technical analysis on Marathon Petroleum stock flags some caution in the price action too, with candle-body conviction gradually softening. The company reports quarterly earnings this very week, on August 4: volatility could pick up in the coming days.
IQS Phase
78
in tension
Signal Strength
55
medium
Sizing
STANDARD
Ranking
#54 / 120
US stocks in progress
Trade P&L %
+29.24%
from signal to date, no stop loss
Rank position
ranks 54th among the 120 Longs already running for US stocks in our ranking, with a signal strength of 55 out of 100.
Sector context
SectorEnergy
Benchmark ETFXLE
Sector regimein positive regime
Performanceweekly -0.12% · monthly +12.76%
MPC belongs to the energy sector (reference ETF XLE). The sector is classified in positive regime according to our weekly reading.
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