Exxon Mobil Corporation (NYSE:XOM) HEFFX Highlights

Exxon Mobil Corporation (NYSE:XOM) HEFFX Highlights

Exxon Mobil Corporation (NYSE:XOM) HEFFX Highlights

  • Exxon Mobil Corp. today announced it has discovered additional oil in the Payara reservoir offshore Guyana, increasing the total Payara discovery to approximately 500 MMboe.
  • These positive well results increase the estimated gross recoverable resource for the Stabroek Block to between 2.25 Bboe and 2.75 Bboe.
  • The well was successfully drilled by Exxon Mobil affiliate Esso Exploration and Production Guyana Limited and encountered 59 ft (18 m) of high-quality, oil-bearing sandstone in Payara field.
  • It was safely drilled to 19,068 ft (5,812 m) in approximately 7,000 ft (2,135 m) of water. The well is only 12 mi (20 km) northwest of the recently funded Liza phase 1 project on the Stabroek Block, which is approximately 130 mi offshore Guyana.

Exxon Mobil Corporation is engaged in energy business. The Company is engaged in the exploration, production, transportation and sale of crude oil and natural gas, and the manufacture, transportation and sale of petroleum products. The Company also manufactures and markets commodity petrochemicals, including olefins, aromatics, polyethylene and polypropylene plastics, and a range of specialty products. The Company’s segments include Upstream, Downstream, Chemical, and Corporate and Financing. The Upstream segment operates to explore for and produce crude oil and natural gas. The Downstream operates to manufacture and sell petroleum products. The Chemical segment operates to manufacture and sell petrochemicals. The Company has exploration and development activities in projects located in the United States, Canada/South America, Europe, Africa, Asia and Australia/Oceania.

Overall, the bias in prices is: Sideways.

Short term: Prices are stalling.

Intermediate term: Prices are ranging.

By the way, prices are vulnerable to a correction towards 82.02.

The projected upper bound is: 83.04.

The projected lower bound is: 79.30.

The projected closing price is: 81.17.

EXXON MOBIL closed up 0.930 at 81.200. Volume was 100% below average (consolidating) and Bollinger Bands were 29% narrower than normal.

Open        High          Low            Close        Volume
81.200      81.200      81.200      81.200      200

Technical Outlook
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish

Moving Averages: 10-period      50-period       200-period
Close:                       80.69            81.31                83.89
Volatility:                11                    15                     16
Volume:                  8,125,154      11,181,561       11,367,135

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 light volume. Possibility of a Common Gap which usually coincides with a lack of interest in the security. Common Gaps are fairly irrelevent for forecasting purposes. Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.
EXXON MOBIL is currently 3.2% below its 200-period moving average and is in an downward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect moderate flows of volume out of XOM (mildly bearish). Our trend forecasting oscillators are currently bearish on XOM and have had this outlook for the last 23 periods. Our momentum oscillator has set a new 14-period high while the security price has not. This is a bullish divergence.

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 39.6916. This is not an overbought or oversold reading. The last signal was a buy 0 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 52.32. 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 114 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 102.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 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 0 period(s) ago.

 

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John Heffernan

John Heffernan is a Junior Analyst at HEFFX. John is studying Economics and is a contributor on equities at Live Trading News.

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