Marathon Oil Corp. (MRO) Share Price Heads Below Balance Step
Marathon Oil Corp. (MRO) shares are being placed on chartists radar as the recent share price of 11.76 is pushed below the balance step moving average.
The balance step is a simple Moving Average calculated from last 5 Balance Points (MA/3),5) of the weekly period bar plotted in step formation on the daily chart. This chart is used to project 1 bar forward (one day). The weekly steps can be used to determine a near-term trend. When the price is above, this typically indicates a bullish trend. When the price is below the Balance Step, this generally spells a bearish trend.
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