MUR - Reading the Charts in Murphy Oil #MUR to Generate Trading Plans

When we read the #charts for Murphy Oil (NYSE: MUR) we are able to reach a #conclusion that may not be otherwise discernable.  We can see where buy signals exist, where sell signals exist, and where risk controls should be implemented.  These are what create trading plans.  The example here is for MUR and it demonstrates this practice.  This data is current, but it is not real time. If you want real time updates, or data on a different stock, please get one here Unlimited Real Time Reports .

Technical Summary

Long Term Trading Plans for MUR

May 7, 2021, 12:30 am ET

The Technical Summary and Trading Plans for MUR help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this MUR Report.

MUR - (Long) Support Plan

The technical summary data tells us to buy MUR near 15.14 with an upside target of 18.88. This data also tells us to set a stop loss @ 15.1 to protect against excessive loss in case the stock begins to move against the trade. 15.14 is the first level of support below 18.39 , and by rule, any test of support is a buy signal. In this case, support 15.14 is being tested, a buy signal would exist.

MUR - (Short) Resistance Plan

The technical summary data is suggesting a short of MUR as it gets near 18.88 with a downside target of 15.14. We should have a stop loss in place at 18.93though. 18.88 is the first level of resistance above 18.39, and by rule, any test of resistance is a short signal. In this case, if resistance 18.88 is being tested, a short signal would exist.