Getting ready for Exxon Mobil reporting release
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.
Summary of technical analysis
|Buy stop||Above 0.46|
|Stop loss||Below 0.43|
Market Analysis provided by IFCMarkets
Get our Weekly Commitment of Traders Report: - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
Get Our Free Metatrader 4 Indicators - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter