Benzinga - If history is any guide, there may be trouble ahead for shares of Marathon Oil (NYSE:MRO). A so-called "death cross" has formed on its chart and, not surprisingly, this could be bearish for the stock.
What To Know: Many traders use moving average crossover systems to make their decisions.
When a shorter-term average price crosses above a longer-term average price, it could mean the stock is trending higher. If the short-term average price crosses below the long-term average price, it means the trend is lower.
Why It's Important: The 50-day and the 200-day simple moving averages are commonly used.
The death cross occurs when the 50-day moves below the 200-day. This could mean the long-term trend is changing.
That just happened with Marathon Oil, which is trading around $23.29 at publication time.
Remember: Seasoned investors don't blindly trade Death Crosses.
Instead, they use it as a signal to start looking for short positions based on other factors, like price levels and company fundamentals & events.
For seasoned investors, this is just a sign that it might be time to start considering possible short positions.
With that in mind, take a look at Marathon Oil's past and upcoming earnings expectations:
QuarterQ4 2022Q3 2022Q2 2022Q1 2022EPS Estimate | 0.84 | 1.19 | 1.29 | 0.92 |
EPS Actual | 0.88 | 1.24 | 1.32 | 1.02 |
Revenue Estimate | 1.72B | 2.02B | 2.07B | 1.71B |
Revenue Actual | 1.73B | 2.25B | 2.30B | 1.75B |
Also consider this overview of Marathon Oil analyst ratings:
Do you use the Death Cross signal in your trading or investing? Share this article with a friend if you found it helpful!
This article was generated by Benzinga's automated content engine and reviewed by an editor.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.