Long Position on MRO @ $20.50 on 7/6/2018 (Momentum)

Marathon Oil Corporation (MRO) operates as an energy company in the United States, Equatorial Guinea, the United Kingdom, and Libya.

It operates in two segments, United States E&P and International E&P.

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 of December 31, 2017, it had estimated proved developed reserves totaling 903 million barrels of oil equivalent (mmboe); and estimated proved undeveloped reserves totaling 546 mmboe. 

Shares of this stock have formed a bullish "cup and handle" and are expected to head higher from this formation. The 50-day moving average (shown in brown) is acting as a support for the formation. 

Entry Point: $20.50

Stop Loss: $19.48

52-Weeks Trading Range: $10.55 - $22.12

Target Price: $22.55

Updates

2/25/2019 11:58:57 AM

MRO closed at $16.75

Position closed on 2/25/2019 at price of $16.75 with a -18.29% loss in 234 days.

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