Marathon Petroleum Corporation : The bullish trend is not over
By Alexandre Nutte
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
$50.92 | $0 | $48.7 | -100% |
From a fundamental viewpoint, the company is strong. It has a reasonable valuation with an EV/Sales ratio of 0.24x. The Thomson Reuters consensus revised regularly upward EPS estimates of the company for the current year.
Technical patterns are in the green: prices are up for several months. The reversal should continue in the coming trading sessions. The 20-day moving average should help to reach new highs.
Thanks to these good indicators, it seems relevant to take a long position in Marathon Petroleum Corp at the current price. The target price is the USD 54.5. A stop loss will be fixed under the USD 48.75 short term because a breakdown of this level would damage technical pattern.