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Marathon oil to a record 52 weeks low October 3, 2011

Posted by mytruthaboutoil in Oil (general), Oil giants.
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Marathon Oil traded today at a new 52-week low of $20.83. So far today approximately 7.2 million shares have been exchanged, as compared to an average 30-day volume of 8.5 million shares.

Marathon Oil Corporation, through its subsidiaries, is an integrated oil firm with operations worldwide. The Company explores for and produces and markets liquid hydrocarbons and natural gas on a worldwide basis. Marathon also mines, extracts and transports bitumen from oil sands deposits in Alberta, Canada and refines, markets and transports crude oil and petroleum products.

There is potential upside of 73.5% for shares of Marathon Oil based on a current price of $21.19 and an average consensus analyst price target of $36.76. Marathon Oil shares should first meet resistance at the 50-day moving average (MA) of $26.13 and find additional resistance at the 200-day MA of $41.59.

Marathon Oil share prices have moved between a 52-week high of $54.33 and the current low of $20.83 and are currently at $21.19 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has declined 3.3%.

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