The Hourly View for MRO
At the moment, MRO (Get Ratings)’s price is up $0.09 (0.81%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
Out of Petroleum and Natural Gas stocks, MRO ranks 72nd in regards to today’s price percentage change.
MRO’s Technical Outlook on the Daily Chart
At the moment, MRO’s price is down $-0.6 (-5.11%) from the day prior. MRO has seen its price go down 5 out of the past 5 days, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 50 day timeframe. Of note is that the 100 and 50 day changed directions on MRO; they are now pointing down. The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend. The chart below shows MRO’s price action over the past 90 days.
MRO: Daily RSI Analysis
- MRO’s RSI now stands at 0.
- MRO and RSI both have consistent trends, as they are both heading down.
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