Resistance

Million

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Marathon Oil’s stock price is currently trading at the level of $27.11 with a hike of 2.88% in the last 24 hours.</a> </li> 
 <li> <span>2</span> <a>MRO stock price was trading with strong uptrend momentum in Monday’s trading session.&nbsp;</a> </li> 
 <li> <span>3</span> <a>MRO share price has recovered above 20-EMA to reach the 50, 100, and 200-day daily moving average.</a> </li> 
</ul> 
<p>The price of MRO stock emphasizes bulls’ dominance and is trying to reach the round figure of the $30 mark. This positive development indicates a potential upward movement for MRO stock, with a projected target of $30. Consequently, buyers are expected to maintain their long positions in the stock.</p> 
<p>Marathon Oil stock is now trading beyond the key moving averages and is showing signs of bullishness. Additionally, based on the recent trading sessions, the chart structure indicates a favorable preference for buyers. The stock has gained momentum and is poised for a potential up move with the target of reaching $30. The renewed action and increasing traction further support the positive outlook for buyers in the market.</p> 
<p>At press time, <a href="https://www.thecoinrepublic.com/2023/08/16/mro-stock-price-prediction-will-mro-price-fly-beyond-30/">MRO stock</a> was trading at $27.11 with an intraday gain of 2.88%, showing bullishness and a positive outlook on the charts. Furthermore, the intraday trading volume was 9.786 Million and the market cap was $16.42 Billion.</p> 
<p>However, if buying volume adds up, then the price might support bullish momentum by making higher highs and new highs. Hence, the&nbsp; Marathon Oil price is expected to move upward giving bullish views over the daily time frame chart.</p> 
<h2 class="wp-block-heading" id="strong-will-mro-stock-price-break-the-30-mark-strong"><strong>Will MRO Stock Price Break the $30 Mark?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <img decoding="async" src="https://lh5.googleusercontent.com/OEJsLlbNLoVqZDkWuRIhmYsxABRqWN8c691fpsbdxIizPL97K75ttc9cvFiMMPSL0QgINFuyY9BPSJhnvPz9Jxx2OBSmbT2dxXAG7NGpSJYxFSckiI6BCr4U5m68fl4YVm9hKYrx_SwEPglQ9rzxZTY" alt="MRO Stock: Marathon Oil Stock in Bulls’ Hand, Targeting $30 Mark">
  <figcaption class="wp-element-caption">
   Source:&nbsp; Marathon Oil.1D.NYSE by <a href="https://www.tradingview.com/x/0BTeyLhn/">TradingView</a>
  </figcaption>
 </figure>
</div> 
<p>Currently, Marathon Oil stock (NYSE: MRO) is trading above the 50 and 200-day EMAs (exponential moving averages), which are supporting the price momentum.&nbsp;</p> 
<p>The current value of RSI is 65 points. The 14 SMA is above the median line at 55 points which indicates that the&nbsp; Marathon Oil stock is bullish. The MACD line at 0.3039 and the signal line at 0.2925 are above the zero line. A bearish crossover is observed in the MACD indicator which signals weakness in the momentum of the MRO stock price.</p> 
<p>Stochastic RSI is consolidating near the overbought level. The %D and %K lines make a positive crossover between them though it is yet to intercept the 80 RSI zone. The present value of stochastic RSI is 72.29 points.</p> 
<h2 class="wp-block-heading" id="strong-analysts-take-on-marathon-oil-stock-strong"><strong>Analysts’ Take on Marathon Oil Stock</strong></h2> 
<p>Out of 29 analysts covering&nbsp; Marathon Oil stock, 19&nbsp; are recommending&nbsp; Marathon Oil as a “Strong Buy”, 1 is recommending MRO as a “Buy”, 6 are recommending&nbsp; Marathon Oil as a “Hold”, 2 are recommending MRO as a “Sell”, and 1&nbsp; are recommending MRO as a “Strong Sell”.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter is-resized">
  <img decoding="async" loading="lazy" src="https://lh5.googleusercontent.com/97esGRGPH-zTMzcpUCBJLwtDXCRvWcwR9Z0HXADn6LM3Nni1NVQ55mebCq5V1768CpiHGS7tebY2nYkK-y8gSm6Oe96a23iVd6anHHYfYv3CPslEdn5edN2VM56jhWBzZ0VtS5BcGMR-1GnmXZgVIlc" alt="MRO Stock: Marathon Oil Stock in Bulls’ Hand, Targeting $30 Mark" style="width: 100%;height:586px" width="1171" height="586">
  <figcaption class="wp-element-caption">
   Source:&nbsp; Marathon Oil.1D.NYSE by TradingView
  </figcaption>
 </figure>
</div> 
<p>The average MRO stock price target is $32.91, which implies a potential upside of 21.39% from the current price of $27.11. The highest MRO stock price target is $40.00, while the lowest Marathon Oil stock price target is $26.00.</p> 
<h4 class="wp-block-heading"><strong>Summary</strong></h4> 
<p>Marathon Oil (NYSE: MRO) is heading upward and showcasing bullishness on the technical chart. Indicators like MACD, RSI, EMAs, and Stochastic RSI support the stock indicating bullishness. Analysts are also strongly bullish on Marathon Oil by giving it a strong bullish rating and possible targets of $40 in the near future. However, investors and traders should wait for a proper setup for the next move and avoid FOMO.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li><strong>Support Levels:</strong> The most immediate support levels for the Marathon Oil stock price are $23.56 and $21.88.</li> 
</ul> 
<ul> 
 <li><strong>Resistance Levels:</strong> The most immediate resistance levels for the MRO stock price are $33.42 and $29.90.</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The analysis provided in this article is for informational and educational purposes only. Do not rely on this information as financial, investment, or trading advice. Investing and trading in stock involves risk. Please assess your situation and risk tolerance before making any investment decisions.</p>

MRO Stock: Marathon Oil Stock in Bulls’ Hand, Targeting $30 Mark

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