Marathon Petroleum Corporation : USD 107 as a target
By Etienne Veber
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
$101.33 | $0 | $98.9 | -100% |
The company shows strong fundamentals. Firstly, the security is undervalued compared to its peers with an EV/Sales ratio estimated at 0.44 by the Thomson Reuters consensus for the current year. Moreover, the consensus revised upward EPS estimates and that let see a great potential for the security on the stock market.
Technical patterns are in the green: prices are up for several months. The movement should continue in the coming trading sessions as it is supported by the USD 101 level and the 20 and 50-day moving averages. The technical analysis of the stock gives us a target near the USD 107 resistance.
Thanks to these good indicators, it seems relevant to open a long position in Marathon Petroleum at the current prices. The target price is the USD 107 resistance. A stop loss will be set under the USD 101 short term support because a breakdown of this level would damage technical pattern.