xom nyse

Exxon Mobil Stock Drops Amid Falling Oil Prices (NYSE: XOM)

Yesterday, Exxon Mobil shares indicated a 9-month low, falling since the beginning of October, after management claims to significantly reduce quarterly earnings amid falling oil prices. According to the Q3 results, the company expects a 50% YoY decline in profit to 3.1 billion US dollars. Exxon Mobil will release quarterly results on November 1.

Over the past week, Exxon Mobil shares fell 4.21%. Over the same period, the S&P 500 index fell 2.26%.

xom nyse

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EXON XOM Support and resistance

The stock is dominated by “bearish” sentiment. The issuer has reached key lows. At the moment, #XOM quotes are testing the support level of 67.00. The level of 69.00 is the nearest resistance. There is potential for further decline. Indicators reflect the strength of sellers: the price has fixed below MA (50) and MA (200); the MACD histogram is in the negative zone and continues to decline. It is advisable to open positions from key levels.

A comparative analysis of the multiples of the company and competing companies in the industry indicates the neutrality of #XOM.

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Resistance levels: 69.00, 70.70, 72.80.

Support levels: 67.00, 65.00.

Trading tips

Short positions can be opened after the price consolidates below the level of 67.00. The closing of the profitable positions is possible at 65.00, 63.00 and 62.00. Stop loss will be located at 69.00.

Long positions can be opened after the price consolidates above the level of 69.00 with the targets at 72.00–74.00. Stop loss – 67.00.

Implementation period: 3 days.

Exxon Mobil Corporation investigates crude oil and natural gas in the United States, Canada / other Americas, Europe, Africa, Asia, and Australia / Oceania. It operates through upstream, downstream, and chemical segments. The company is also involved in the manufacture, trade, transportation, and sale of crude oil, petroleum products, and other specialty products; and manufactures and markets petrochemicals, including amines, polyamides, aromatics, and various other petrochemicals. As of December 31, 2018, there were about 24,696 net well-workers with proven reserves of 24.3 billion equivalent oil barrels. The company was founded in 1870 and has its headquarters in Irving, Texas.

XOM Oscillators

Relative Strength Index (14)30.95Neutral
Stochastic %K (14, 3, 3)19.47Neutral
Commodity Channel Index (20)−112.14Buy
Average Directional Index (14)32.87Neutral
Awesome Oscillator−3.59Sell
Momentum (10)−2.97Sell
MACD Level (12, 26)−1.01Sell
Stochastic RSI Fast (3, 3, 14, 14)17.32Neutral
Williams Percent Range (14)−68.41Neutral
Bull Bear Power−2.99Neutral
Ultimate Oscillator (7, 14, 28)36.24Neutral

XOM Moving Averages

Exponential Moving Average (5)68.09Sell
Simple Moving Average (5)67.81Buy
Exponential Moving Average (10)68.89Sell
Simple Moving Average (10)69.26Sell
Exponential Moving Average (20)69.88Sell
Simple Moving Average (20)70.38Sell
Exponential Moving Average (30)70.29Sell
Simple Moving Average (30)71.26Sell
Exponential Moving Average (50)70.60Sell
Simple Moving Average (50)70.87Sell
Exponential Moving Average (100)71.34Sell
Simple Moving Average (100)70.75Sell
Exponential Moving Average (200)72.86Sell
Simple Moving Average (200)73.03Sell
Ichimoku Cloud Base Line (9, 26, 52, 26)70.19Neutral
Volume Weighted Moving Average (20)70.17Sell
Hull Moving Average (9)66.74Buy
Aug-21-19InitiatedBMO Capital MarketsMarket Perform
Aug-19-19InitiatedBarclaysEqual Weight$73
Jul-18-19DowngradeRBC Capital MktsOutperform → Sector Perform$100 → $90
Apr-08-19InitiatedTudor PickeringHold
Apr-01-19InitiatedMorgan StanleyEqual-Weight$84
Mar-08-19DowngradeCowenOutperform → Market Perform$100 → $75
Feb-14-19UpgradeMacquarieUnderperform → Outperform$83
Nov-20-18DowngradeRaymond JamesMkt Perform → Underperform
Oct-23-18ResumedPiper JaffrayNeutral
Sep-11-18InitiatedBerenbergHold$84
May-30-18UpgradeRBC Capital MktsSector Perform → Outperform
Apr-23-18UpgradeRaymond JamesUnderperform → Mkt Perform
Mar-15-18UpgradeHSBC SecuritiesReduce → Buy
Mar-08-18ReiteratedCitigroupNeutral$84 → $81
Feb-06-18DowngradeBarclaysOverweight → Underweight$91 → $84
Feb-05-18ReiteratedCredit SuisseNeutral$84 → $80
Dec-12-17InitiatedCredit SuisseNeutral$83
Nov-16-17ReiteratedRBC Capital MktsSector Perform$90 → $85
Nov-07-17DowngradeHSBC SecuritiesHold → Reduce
Jul-06-17ResumedRBC Capital MktsOutperform$95

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