Marathon Petroleum Corp. (MPC) shares traded as low as $129.10 on Thursday, entering oversold territory according to the Relative Strength Index (RSI), which is currently at 28.9. A stock is deemed oversold when the RSI falls below 30. This contrasts with the average RSI of 43.5 for the broader energy sector. The stock has fallen about 11.9% on the day, with a recent trading price of $130.34, compared to a 52-week high of $221.11.
Investors interpreting the low RSI may consider this a signal that selling pressure is waning, potentially indicating entry points for buying. The performance of WTI Crude Oil stands at an RSI of 38.6, Henry Hub Natural Gas at 53.4, and the 3-2-1 Crack Spread at 54.0, highlighting a relatively weak momentum for MPC among its peers.
