The bullish DailyPlay we chose for Wednesday April 11th is Marathon Petroleum (MPC). MPC is part of the Energy Sector (XLE). Over the last month, XLE has experienced a 2.13% move higher and its 1m trend has turned bullish on 4/9 and broke above its $69 resistance level which now becomes support.
Marathon Petroleum’s 1m and 6m trends turned bullish on 3/8 and recently bounced higher off its $70 support level. With a technical score of 9 (out of 10), MPC is a strong bullish stock that will likely continue higher.
As a stop loss, if MPC was to trade below $70 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
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