Home Commodities Exxon Mobil Corporation (NYSE:XOM) blacklisted from Legal & General Investment Management

Exxon Mobil Corporation (NYSE:XOM) blacklisted from Legal & General Investment Management

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Exxon Mobil Corporation (NYSE:XOM) blacklisted from Legal & General Investment Management

Britain’s biggest investment manager has released its second blacklist of companies which are failing to address environmental concerns.

Legal & General Investment Management, which manages more than £1 trillion of savers’ and pensioners’ money, assesses more than 80 of the world’s largest firms every year.

London-listed oil company Rosneft remained on the list for the second year in a row.

Five companies were added, including oil and gas giant Exxon Mobil, US food firms Hormel Foods and Kroger, Korean Electric Power Corporation and US insurer Metlife.

L&G has vowed to take a stand against the companies which it feels are not doing enough to address climate change, by voting against their chairmen at shareholder meetings.

Meryam Omi, L&G’s head of sustainability, said: ‘Talks without action are no longer fit for purpose given the urgency to address climate change.’

Overall, the bias in prices is: Upwards.

The projected upper bound is: 79.02.

The projected lower bound is: 73.99.

The projected closing price is: 76.50.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 3 white candles and 7 black candles for a net of 4 black candles. During the past 50 bars, there have been 22 white candles and 28 black candles for a net of 6 black candles.

A rising window occurred (where the top of the previous shadow is below the bottom of the current shadow). This usually implies a continuation of a bullish trend. There have been 4 rising windows in the last 50 candles–this makes the current rising window even more bullish.

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 76.8616. This is not an overbought or oversold reading. The last signal was a sell 6 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 58.11. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 12 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 155.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 1 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 10 period(s) ago.

Rex Takasugi – TD Profile

EXXON MOBIL closed up 1.290 at 76.610. Volume was 32% above average (neutral) and Bollinger Bands were 3% narrower than normal.

Open High Low Close Volume___
76.390 76.970 76.085 76.610 5,090,060

Technical Outlook
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bearish

Moving Averages: 10-period 50-period 200-period
Close: 75.01 76.87 77.99
Volatility: 15 21 24
Volume: 3,478,584 3,662,882 4,368,325

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

EXXON MOBIL gapped up today (bullish) on normal volume. Possibility of a Runaway Gap which usually signifies a continuation of the trend. Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.
EXXON MOBIL is currently 1.8% below its 200-period moving average and is in an upward trend. Volatility is high as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of XOM.N at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on XOM.N and have had this outlook for the last 3 periods.

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