Marathon Oil Corp. (MRO) Share Price Heads Below Balance Step



  • Summary:

     

    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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