fb&XOM/BRENT Forecast | Getting ready for Exxon Mobil reporting release | IFCM

Technical Analysis &XOM/BRENT : 2020-07-15

Recommendation for XOM Oil:

Buy
Strong SellSellNeutralBuyStrong Buy

Above 0.46

Buy Stop

Below 0.43

Stop Loss

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IndicatorValueSignal
RSI Neutral
MACD Buy
MA(200) Neutral
Fractals Neutral
Parabolic SAR Buy
Bollinger Bands Neutral

Chart Analysis

IFC Markets Tech Analysis

On the daily timeframe, XOM_Brent: D1 reached the support level and a 6-year low and could not break it down. Then it started to rise, went up from the downtrend, and is trying to continue the upward correction currently. A number of indicators of technical analysis formed signals for a further increase. We do not exclude bullish movement if XOM_Brent rises above its last maximum: 0.46. This level can be used as an entry point. We can set a stop loss below the Parabolic signal, a 6-year low, and the last lower fractal: 0.43. After opening the pending order, we move the stop loss after the Bollinger and Parabolic signals to the next fractal minimum. Thus, we change the potential profit/loss ratio in our favor. After the transaction, the most risk-averse traders can switch to a four-hour chart and set a stop loss, moving it in the direction of the trend. If the price meets the stop loss level (0.43) without activating the order (0.46), it is recommended to delete the order: the market sustains internal changes not taken into account.

Fundamental Analysis

In this review, we propose to consider the XOM_Brent personal composite instrument (PCI). It reflects the price dynamics of the stocks of Exxon Mobil Corporation, an American oil company, against the Brent crude oil futures. Will the XOM_Brent quotations increase ?

The growth of this PCI means that Exxon Mobil shares are rising in price, while oil is getting cheaper or is traded narrowly. The quarterly reports are expected on July 31, 2020. According to forecasts, Exxon Mobil may suffer a loss estimated in a very wide range from - $ 0.61 to - $ 1.24 per stock (current price is $ 43.7). Exxon Mobil is now about 39% cheaper than at the beginning of 2020, and Brent is 35% up. At the end of April this year, Brent dropped to $ 20 per barrel and even lower. At the same time, the company's shares value was approximately the same as now. Theoretically, the current stabilization of oil prices above $ 35-40 may help the rise of the company's stocks and the overall growth of the XOM_Brent PCI.

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