Research Excerpts

Marathon Petroleum (MPC): New All-Time Highs?

Posted on: Saturday, August 11th, 2018

One of the components of our investment research is providing buy and sell ideas in individual stocks and ETFs.  We have two quantitative models, Asbury Momentum and Asbury Value, that find and identify these opportunities.  A simple way to describe them is that Asbury Momentum buys strength and Asbury Value buys weakness.  Asbury Research Subscribers can access all of these by logging into our Research Center.

On July 10th we alerted subscribers to a new Asbury Value buying opportunity in Marathon Petroleum Corporation (MPC).  Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States.

MPC daily since January

The green highlights on the chart above show that MPC proceeded to rise by 4% by July 25th, the day before Q2 earnings were due to be reported, at which time we suggested that more risk averse subscribers may wish to exit with a small profit rather than take on additional earnings-related event risk.

Since then, however, the green highlights also show that MPC has risen by an additional 8% for a total of a 12% gain since our initial July 10th Asbury Value signal.  The red highlights show that this post-earnings rally has resulted in a test of overhead resistance at 83.27, which is the April 26th all-time high that had already been re-tested on June 4th and July 31st.

The more times an overhead resistance level is tested, the more likely it is to eventually be broken by new highs.  A sustained rise above 83.27 in MPC would clear the way for a much more significant and sustained move higher.


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