Marathon Petroleum Corporation : Benefit from the uptrend
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
$64.01 | $0 | $60.2 | -100% |
The company shows strong fundamentals. Firstly, the security is undervalued compared to its peers with an EV/Sales ratio estimated at 0.26 by the Thomson Reuters consensus for this year. Moreover, the consensus revised upward EPS estimates for this year and that let see a great potential for the security on the stock market.
Technically, the security shows a bullish configuration on all time scales. Prices are supported by increasing moving averages. In daily data, 20-day moving average helps the stock to keep its uptrend.
Therefore, taking into account the strong fundamentals and technical patterns, it seems opportune to take a long position at the current price in order to benefit from a possible reversal. The first target price is the USD 73.1 resistance. A stop loss will be fixed under the USD 61.1 short term support, threshold that would invalidate this trading strategy.