Marathon Petroleum Corp is an independent oil refining company based in Ohio. It also happens to be the largest refinery operator in the US, with a capacity of 3 million barrels per day spread across 16 refineries. Marathon is also part of the Fortune 500 list. Also owns and operates midstream assets through other listed entities. The oil price is expected to remain high as there are expectations of higher inflation and a commodity upcycle. Therefore, the future prospects of Marathon currently look bright.
The long-term monthly chart for Marathon Petroleum shows an uptrend from 2012 to 2018. From late 2018 to early 2020, the price fell by a staggering 80% and went way below the bottom of the long-term trend. However, starting April 2020, things have reversed, and the price has gained more than 100%. The price is now back above the bottom of the long-term trend and looks set to test the $68 level. A minimum stop loss can be placed below the bottom of the long-term trend, at around $47
Position entered into our long-term tracking portfolio today. The entry point is at $57.80, and the stop loss is placed at $25.42, which is 57% below the entry point. The short-term to medium take profit is at the top of the trend set at $92, giving a profit of 57%.
On the video and images above you will see the reason this stock was selected.
You will see the image is of a monthly chart of the stock showing the long-term upwards trend formed over the years. You will also see the entry point and the where the stop loss is placed. For more information please watch the video given.
Once it is time to move the original stop loss up you will see an additional image.