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Marathon Petroleum Corp Sprinting Into Key Resistance

|Includes:Marathon Petroleum Corp. (MPC)

Shares of oil refiner Marathon Petroleum Corp (NYSE:MPC) are racing higher today, as the stock is up over 6.0%. This is a very impressive move as the overall markets are seeing some severe selling pressure. The company reported earnings today that beat the street expectations, couple that with a sharp decline in Crude Oil and you have the perfect elixir for a strong move up in the share price. However, Marathon Petroleum Corp (NYSE:MPC) is into a fair bit of resistance as seen on the chart below. A break through of this down sloping trendline and you could see a move right back up to the 52 weeks highs.

Parm Mann

Stocks: MPC