Exxon Mobil Corp. (XOM/NYSE): general review
Exxon Mobil Corp. (XOM/NYSE): general review
22 January 2019, 13:28
| Scenario | |
|---|---|
| Timeframe | Intraday |
| Recommendation | BUY STOP |
| Entry Point | 73.00 |
| Take Profit | 76.00, 78.00, 80.00 |
| Stop Loss | 72.00, 70.00 |
| Key Levels | 66.00, 70.00, 73.00, 75.00, 78.30 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 70.00 |
| Take Profit | 66.00, 63.00 |
| Stop Loss | 73.00 |
| Key Levels | 66.00, 70.00, 73.00, 75.00, 78.30 |
Current trend
At the end of last week, shares of Exxon Mobil have consolidated at a new monthly high showing an increase by 11.4% from the December 52-week low. At the end of next week, the company will publish the results for the past quarter. The market expects a 38% (YoY) increase in earnings per share to USD 1.22 with an increase in revenue by 11% (YoY) to USD 74 billion.
In the previous week, the stock of ExxonMobil grew by 1.77%. S&P500 index went up by 2.90% during the same period.
Support and resistance
At the moment, #XOM shares are consolidating. No single direction tendencies are observed. Local support and resistance levels are at 70.00 and 73.00, respectively. The emitter has the potential for further recovery after a prolonged fall.
Indicators don't give a clear signal: the price has consolidated between MA(50) and MA(200), and MACD histogram started to grow. Positions are to be opened from key levels.
Comparing company's multiplier with its competitors in the industry, we can say that #XOM shares are overvalued.
Support levels: 70.00, 66.00.
Resistance levels: 73.00, 75.00, 78.30.
Trading tips
If the price consolidates above the resistance level of 73.00, one should expect the company's shares to correct. Potential profits should be locked in by orders 76.00, 78.00, and 80.00. Stop loss – 70.00.
If the price consolidates below 70.00, one may consider selling #XOM. The target level for profit taking is 66.00-63.00. Stop loss – 73.00.
Implementation period: 3 days.
At the end of last week, shares of Exxon Mobil have consolidated at a new monthly high showing an increase by 11.4% from the December 52-week low. At the end of next week, the company will publish the results for the past quarter. The market expects a 38% (YoY) increase in earnings per share to USD 1.22 with an increase in revenue by 11% (YoY) to USD 74 billion.
In the previous week, the stock of ExxonMobil grew by 1.77%. S&P500 index went up by 2.90% during the same period.
Support and resistance
At the moment, #XOM shares are consolidating. No single direction tendencies are observed. Local support and resistance levels are at 70.00 and 73.00, respectively. The emitter has the potential for further recovery after a prolonged fall.
Indicators don't give a clear signal: the price has consolidated between MA(50) and MA(200), and MACD histogram started to grow. Positions are to be opened from key levels.
Comparing company's multiplier with its competitors in the industry, we can say that #XOM shares are overvalued.
Support levels: 70.00, 66.00.
Resistance levels: 73.00, 75.00, 78.30.
Trading tips
If the price consolidates above the resistance level of 73.00, one should expect the company's shares to correct. Potential profits should be locked in by orders 76.00, 78.00, and 80.00. Stop loss – 70.00.
If the price consolidates below 70.00, one may consider selling #XOM. The target level for profit taking is 66.00-63.00. Stop loss – 73.00.
Implementation period: 3 days.
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