Murphy USA Inc. : The upward tendency continues
By Sébastien Gatel
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
$72.69 | $76.4 | $70 | +5.1% |
The economic and financial situation of the company is still strong. Debt is decreasing rapidly and the leverage is reducing at 1.03.
Technical patterns are in the green: prices are up for several months. The movement should continue in the coming trading sessions. The 20-day moving average should help to reach the USD 81.71 long term resistance.
Therefore, taking into account the strong fundamentals and technical patterns, it seems opportune to take a long position at the current price. The first target price is the USD 76.4 resistance. A breakout of this level will be a new bullish signal for higher target price (USD 81.4 resistance). A stop loss will be placed under the USD 70 threshold, that would invalidate this trading strategy.