In the past few sessions, Murphy USA shares have suffered from a sharp fall and is now coming back to significant level support.

From a fundamental viewpoint, Murphy USA seems undervalued in terms of enterprise value. Based on the current price, its market capitalization plus its net debt, represents 0.2 times its revenues.
This valuation is only 15.93 and 15.78 times the two next years estimates earnings.
Moreover, recently, EPS estimates for the two coming years have been revised upward by analysts. This positive fact opens the way for a better evaluation of the security by investors.

The security follows a downward trend in the short term, under the USD 58.3 resistance area. The trend is bearish also in the mid-term. However, the selling pressure could soon run out of steam. Indeed, while the stock shows an oversold condition, the USD 56.6 support area currently tested might stop the bearish trend in the short term. Moreover a signal will be given by the breakout of the USD 58.3.

Considering technical and fundamental elements, it seems to be an appropriate timing to immediately open a long position in Murphy USA in order to benefit from the USD 56.55 support area. A first target price will be the USD 60.45 resistance. A stop loss order will be placed under the mid-term support currently tested.