Forex Trading :-  Exxon Mobil Corporation (XOM/NYSE/S&P500)

Current trend

Exxon Mobil considers selling a half of its 2.5 thousand gas stations in Italy for USD 0.5 bln. The stations are operated by its subsidiary Esso. The stations need to be sold due to oversupply: the country has 21 thousand has stations two times more than in France and almost three times than in the UK. Private company Apollo is named one of the possible purchasers.

During the previous week Exxon Mobil shares grew by 0.48%. S&P500 index for the same period dropped by 0.13%.

Comparative analysis of multipliers of the company and its competitors shows that Exxon Mobil shares are neutral.

Key levels

During the latest trade sessions Exxon Mobil shares were trading within flat market. The trade goes both directions. Currently certain key levels can be determined: support is 81.80, and resistance — 82.25. The signals of indicators are mixed: the price crossed 50 MA, and MACD is located near zero line. Positions are to be opened if the price consolidates above or below key levels.

Support levels: 81.80, 81.40, 80.80.

Resistance levels: 82.25, 82.60.

Trading tips

In case of breakout and retesting the local resistance level of 82.25, bullish tendencies are possible. Stop-loss will be at 81.85. Potentially, the growth can be up to 83.00-83.50.

If the price is consolidated below 81.80, the sale of #XOM may be considered. There is a potential of movement to 81.00-80.50. Stop-loss order may be placed at 82.20.

forex-trading

Exxon Mobil Corporation (XOM/NYSE/S&P500)

Scenario

Timeframe Intraday
Recommendation BUY STOP
Entry Point 82.30
Take Profit 83.00, 83.50
Stop Loss 81.85
Key Levels 80.80, 81.40, 81.80, 82.25, 82.60

Alternative scenario

Recommendation SELL STOP
Entry Point 81.70
Take Profit 81.00, 80.50
Stop Loss 82.20
Key Levels 80.80, 81.40, 81.80, 82.25, 82.60
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