Exxon Mobil: bearish confirmation, earnings today
Exxon Mobil stock: confirmation week dips 1% on earnings day
Exxon Mobil: bearish confirmation, earnings today
Our view last week
Exxon Mobil stock opens a fresh buy signal right on earnings day: the week just closed with a 6.5% gain and five straight higher lows from the 135 area toward 146. Price, though, is boxed between the first resistance and the first support - a tight range - and our model flags trading as not recommended: better to watch the earnings reaction before moving.
This week's summary
Exxon Mobil stock closes its confirmation week down 1%, right on earnings day. The daily chart still looks solid: 4 higher lows from the 137 area to the 152 area keep the bullish structure intact, even though price action flags a distribution phase underway. The buy signal, which fired last week, stays unchanged: today's earnings call for a bit more caution.
IQS Phase
65
ordinary
Signal Strength
55
medium
Sizing
STANDARD
Ranking
#52 / 120
US stocks in progress
Trade P&L %
-0.96%
from signal to date, no stop loss
Rank position
ranks 52nd among the 120 Longs already running for US stocks in our ranking, with a signal strength of 55 out of 100.
Sector context
SectorEnergy
Benchmark ETFXLE
Sector regimein positive regime
Performanceweekly -0.12% · monthly +12.76%
XOM belongs to the energy sector (reference ETF XLE). The sector is classified in positive regime according to our weekly reading.
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