Marathon Oil Corp (MRO) is down 2.5% at $24.90 at last glance, headed for its fourth-straight daily loss. The shares are down 9.3% in just the last week, though the pullback could provide an entry opportunity for bulls.
The recent dip has MRO within one standard deviation of its 160- and 200-day moving averages, which have both been bullish for the stock in the past. Both trendlines have seen three similar signals over the past three years, after which the stock was higher one month later each time, with the 160-day trendline averaging a 3.3% gain, while the 200-day averaged a 6.1% gain.
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