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Marathon Petroleum(MPC - Get Report) is a petroleum product refiners, transporters and marketers in the U.S. This stock is trading up 5.2% at $57.74 in recent trading.
Today's Volume: 6.1 million
Average Volume: 3 million
Volume % Change: 246%
Shares of MPC are ripping higher today after the company agreed to buy BP PLC's Texas City refinery and infrastructure assets.
>>5 Stocks Poised for Breakouts
From a technical perspective, MPC is moving up here with above-average volume, and it's started to push into breakout territory since it's taken out some near-term overhead resistance at $56.22.
Traders should now look for long-biased trades in MPC as long as it's trending above that breakout level of $56.48 with strong upside volume flows. I would consider any upside volume day that registers near or above 3 million shares as bullish. If MPC can maintain that trend, then this stock has a great chance of trading north of $60 in the near future.