Oversold MPC May Be Primed for Bounce at $163.69

Marathon Petroleum Corp (MPC) closed down 1.24% at $163.69 on December 27.

Technical indicators paint a bearish picture:

• Moving Averages: Price sits below both the 9-day ($170.45) and 21-day ($178.44) EMAs, suggesting short-term weakness.
• Momentum: RSI at 21.0 is approaching oversold territory, which may present buying opportunities. MACD is bearish (-7.19 vs signal -5.00).
• Volatility: Bollinger Band width at 24.7% indicates normal volatility.

Despite the bearish EMA structure, oversold RSI suggests patient buyers may find opportunity near $159.10.

Key levels to watch: Support at $159.10, Resistance at $204.00.