Backtesting Analysis On Marathon Petroleum

Marathon Petroleum (MPC) traded down 6 consecutive sessions and it lost 1.17% on Monday. What is more likely to happen next?

This has happened to this stock 15 times in the past. There is a bullish bias to this trading setup as the stock has returned on average a positive 0.51% on the session right after being down 6 days in a row with a winning rate of 60%. But please remember that "on average" does not mean "every single time." I would also like to add that the average winning trade was higher than the average losing trade (1.92% and -1.59%).



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