Exxon Mobil Corporation (XOM/NYSE/S&P500)
18 September 2017, 12:17
| Scenario | |
|---|---|
| Timeframe | Intraday |
| Recommendation | BUY STOP |
| Entry Point | 80.25 |
| Take Profit | 80.60, 81.00, 81.25 |
| Stop Loss | 79.80 |
| Key Levels | 78.60, 79.60, 80.20 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 79.50 |
| Take Profit | 79.00, 78.60 |
| Stop Loss | 80.00 |
| Key Levels | 78.60, 79.60, 80.20 |
Industry: oil and gas
Current trend
Despite the consequences of Harvey and Irma storms still putting pressure on the investors, energy sector including the stock of Exxon Mobil is showing a stable rebound tendency. Texas refinery of Exxon Mobil is the second biggest in the country with the volume of production of over 560K barrels a day, and it has already resumed operations. UBS analysts increased the outlook for Exxon Mobil shares and expect the company's shares to restore before the stock of its competitors Chevron Corporation and Valero Energy Corporation.
During the previous week Exxon Mobil shares grew by 1.59%. S&P500 gained 0.26% within the same period of time.
Comparing company's multiplier with its competitors, we can say that Exxon Mobil shares are neutral.
Key levels
#XOM has been dominated by aggressive sales since the beginning of the month. On Friday the emitter kept the mirror support level of 79.6 which caused further growth of the company's stock. The nearest resistance level is at 80.20. Indicators show "bullish" tendencies in the trading instrument. Positions should be opened within the current trend.
Support levels: 79.60, 78.60.
Resistance levels: 80.20.
Trading tips
If the price consolidates above the local resistance level of 80.20, one may consider buying #XOM. Potential profits may be locked in by orders at 80.60, 81.00, 81.25. Stop-loss will be placed at 79.80.
Technical correction of the company's shares is also possible. If the price consolidates below 79.60, short positions could be opened. There is potential of movement to 79.00-78.60. Stop-loss should be placed at 80.00.
Trading tips will be relevant for 3 days.
Current trend
Despite the consequences of Harvey and Irma storms still putting pressure on the investors, energy sector including the stock of Exxon Mobil is showing a stable rebound tendency. Texas refinery of Exxon Mobil is the second biggest in the country with the volume of production of over 560K barrels a day, and it has already resumed operations. UBS analysts increased the outlook for Exxon Mobil shares and expect the company's shares to restore before the stock of its competitors Chevron Corporation and Valero Energy Corporation.
During the previous week Exxon Mobil shares grew by 1.59%. S&P500 gained 0.26% within the same period of time.
Comparing company's multiplier with its competitors, we can say that Exxon Mobil shares are neutral.
Key levels
#XOM has been dominated by aggressive sales since the beginning of the month. On Friday the emitter kept the mirror support level of 79.6 which caused further growth of the company's stock. The nearest resistance level is at 80.20. Indicators show "bullish" tendencies in the trading instrument. Positions should be opened within the current trend.
Support levels: 79.60, 78.60.
Resistance levels: 80.20.
Trading tips
If the price consolidates above the local resistance level of 80.20, one may consider buying #XOM. Potential profits may be locked in by orders at 80.60, 81.00, 81.25. Stop-loss will be placed at 79.80.
Technical correction of the company's shares is also possible. If the price consolidates below 79.60, short positions could be opened. There is potential of movement to 79.00-78.60. Stop-loss should be placed at 80.00.
Trading tips will be relevant for 3 days.
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