MPC: Bullish Pennant, confirmed (30,71%)(31/1000)

(31/1000)

Bullish Pennant pattern on the weekly for MPC. Confirmed
30.71% possible gains.

MPC (Marathon) is part of the S&P Energy sector which has built into an ascending triangle. Not confirmed yet though.

Pros:

1- PPS above 50MA and 200MA
2- RS above 0 and climbing
3- R/R ratio above 5
4- 250RSI above 50 and climbing
5- 50MA above 200MA
6- Both 50MA and 200MA ascending
7- Golden cross circled in blue
8- Descending volume during pennant forming
9- Some volume during post forming


Cons:
1- No volume increase at break out
2- ATR flat, less volatile

Target price is 191,24$

Stay humble, have fun, make money!

MAAX