Published On: Tue, Mar 7th, 2017

Exxon Mobil Corporation: analytical review

InstaForex

Fundamental analysis

Industry: Oil and Gas.

Exxon Mobil is planning to invest around $ 20 billion on refineries and other projects around the region of the Gulf of New Mexico. Projects completion is planned until 2022. US President Donald Trump cheered their investment projects and highlighted their importance for the energy industry in the US.

After Exxon Mobil’s decline in reserves in 2016 and shares fall since the beginning of this year, investors’ attention is focused on descriptive coefficients of the company and its competitors. Exxon Mobil shares are trading at a premium compared to their competitors. Forward P/E ratio amounts to 16.88, which is above the industry average.

For the last week, Exxon Mobil shares showed a 1.58% growth. The S&P 500 in the same period fell by 0.28%.

Keylevels

Last week, aggressive purchases prevailed in the instrument. Yesterday, #XOM held the region made up of 50%-61.8% Fibonacci corrections having added 0.45%. The technical picture suggests a Bullish sentiment continuation: the price remains above the 50 МА and 200 МА; MACD entered the positive zone.

Support levels: 82.60, 82.00, 81.40.

Resistance levels: 83.20, 84.00.

Trading tips

Long positions can be opened after the price consolidation above the level of 83.20 with targets at 83.70, 84.15, 84.50 and stop-loss at 82.75.

Short positions can be opened after the price consolidation below the level of 82.60 with targets at 81.75, 81.50 and stop-loss at 83.00.

Forex Analysis

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