Exxon Mobil (XOM) shares are trading at a discount of 0.8% to their monthly high, reflecting an uptrend since early December. The issuer’s quotes fall from the April 52-week high exceeded 16%. The company began oil production from the Liza field on the Guyana shelf earlier than planned, and also announced that the report for the past quarter will be published on January 31. In the previous week the stock of Exxon Mobil grew by 0.72%. S&P 500 went up by 1.07% within the same period.
US stock futures are trading flat ahead of the past two trading days of 2019, but the main averages are all close to or close to highs. The Dow and S&P 500 both closed at record highs on Friday and the S&P 500 is just 0.35% from posting its best annual gain since 1997. Nasdaq has seen a streak of 11-day wins coming to term on Friday, but the main averages are still leading with an annual gain of almost 36%. In today’s economic calendar, the Chicago Purchasing Managers Index is available at 9:45 ET. The National Association of Realtors publishes its pending home sales report for November at 10:00 am ET. In the meantime, no earnings reports are available today.
Tesla (TSLA) began delivering model 3 electric cars built in its Shanghai factory in just under a year since it started work on the $ 2 billion plant, a record for global automakers in China. Tesla said he would speed up deliveries from next month. The Shanghai plant is part of Tesla’s plans to strengthen its presence in the world’s largest automotive market and minimize the impact of the US-China trade war.
The new EU trade commissioner, Phil Hogan, has said he will try to restore EU / US trade relations on a number of controversial issues when he meets his US counterpart next month. The two sides are theoretically trying to enter into an agreement to remove the overall import duties, but are stuck on agricultural products, which DC said should be included and Brussels claimed that they cannot be present.
Exxon Mobil Stock Support and Resistance
Exxon Mobile’s stock price is in the lateral movement. No single direction tendencies are observed. However, a majority of the 1 day moving averages and oscillators are indicating a buy. (See below). The company’s shares are testing local levels of support and resistance: 68.60 и 70.60 respectively. The instrument has the potential to resumption to go higher. 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 a buy.
Resistance levels: 70.60, 73.00, 75.00.
Support levels: 68.60, 67.00, 65.00.
Exxon Mobil Stock Pivot Points
Pivot Classic Fibonacci Camarilla Woodie DM
S3 57.92 63.72 66.54 59.80 —
S2 63.72 65.94 67.07 63.56 —
S1 65.93 67.31 67.60 65.60 64.83
P 69.52 69.52 69.52 69.36 68.97
R1 71.73 71.74 68.66 71.40 70.63
R2 75.32 73.11 69.19 75.16 —
R3 81.12 75.32 69.72 77.20 —
Exxon Mobil Stock Trading Ideas
If the price consolidates above the resistance level of 70.60, one should expect the company’s shares to grow. Potential profits should be locked in by orders at 73.00, 75.00 and 76.50. Stop loss will be placed at 68.60. If the price consolidates below 68.60, the sale of #XOM may be considered. The target level for profit taking is at 65.00–63.00. Stop loss – 70.60. Implementation time: 3 days.
Exxon Mobil Stock Recommendations
Nov-26-19 Resumed Piper Jaffray Neutral $83
Aug-21-19 Initiated BMO Capital Markets Market Perform
Aug-19-19 Initiated Barclays Equal Weight $73
Jul-18-19 Downgrade RBC Capital Mkts Outperform → Sector Perform $100 → $90
Apr-08-19 Initiated Tudor Pickering Hold
Apr-01-19 Initiated Morgan Stanley Equal-Weight $84
Mar-08-19 Downgrade Cowen Outperform → Market Perform $100 → $75
Feb-14-19 Upgrade Macquarie Underperform → Outperform $83
Nov-20-18 Downgrade Raymond James Mkt Perform → Underperform
Oct-23-18 Resumed Piper Jaffray Neutral
Sep-11-18 Initiated Berenberg Hold $84
May-30-18 Upgrade RBC Capital Mkts Sector Perform → Outperform
Apr-23-18 Upgrade Raymond James Underperform → Mkt Perform
Mar-15-18 Upgrade HSBC Securities Reduce → Buy
Mar-08-18 Reiterated Citigroup Neutral $84 → $81
Feb-06-18 Downgrade Barclays Overweight → Underweight $91 → $84
Feb-05-18 Reiterated Credit Suisse Neutral $84 → $80
Dec-12-17 Initiated Credit Suisse Neutral $83
Nov-16-17 Reiterated RBC Capital Mkts Sector Perform $90 → $85
Nov-07-17 Downgrade HSBC Securities Hold → Reduce
Exxon Mobil Stock 1 Day Moving Averages
Name Value Action
Exponential Moving Average (5) 69.97 Sell
Simple Moving Average (5) 70.05 Sell
Exponential Moving Average (10) 69.83 Buy
Simple Moving Average (10) 69.84 Buy
Exponential Moving Average (20) 69.61 Buy
Simple Moving Average (20) 69.37 Buy
Exponential Moving Average (30) 69.51 Buy
Simple Moving Average (30) 69.16 Buy
Exponential Moving Average (50) 69.57 Buy
Simple Moving Average (50) 69.34 Buy
Exponential Moving Average (100) 70.39 Sell
Simple Moving Average (100) 69.59 Buy
Exponential Moving Average (200) 72.31 Sell
Simple Moving Average (200) 73.40 Sell
Ichimoku Cloud Base Line (9, 26, 52, 26) 68.93 Neutral
Volume Weighted Moving Average (20) 69.44 Buy
Hull Moving Average (9) 70.16 Sell
Evidence-based financial writer with 9 years of experience specializing in earnings, economic data coverage, and bond markets. I combine fundamentals, technicals, and macro to identify low-risk, asymmetric opportunities.