Marathon Petroleum (MPC) - Trade Stocks

Marathon Petroleum (MPC)

By Mon, Jan 3, 2022

Happy 2022!

This is the last winning trade of the year, and we’re making it a good one.

This week’s trade is from our Follow the Flow Report, which tracks unusual options activity looking for heavy aggressive directional bets in the options market in both long and short positions.

The FTF report specifically looks for big splashes, from which we then handpick the best of the best.

That’s today’s Chart of the Week, Marathon Petroleum (MPC).

Oil is back above $76 and going strong as inflation keeps rising.

MPC is one of the best plays in the sector with a surge of bullish bets going on.

We are long in MPC above 68.5 with a target of 88.

That’s some great risk vs reward to end the year.

Happy New Year all.

Til next year, good trading,

JC Parets

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About the Author

JC Parets, founder of All Star Charts, specializes in finding the most opportunistic risk vs. reward propositions while at the same time bringing a top/down approach to the marketplace whose wide spectrum is rivaled by few. JC begins with a long-term global macro perspective and then works his way down to the individual sector and industry level before ultimately isolating the stocks that best portray a particular thesis. Price is the most important technical indicator, but JC uses supplements such as Momentum, Relative Strength, and Fibonacci analysis to complete the process.