18 Jan

Shell’s Moving Average before Its 4Q17 Earnings

WRITTEN BY Maitali Ramkumar

Shell’s moving averages in 9M17

In 1Q17, despite the fall in Royal Dutch Shell (RDS.A) stock, its 50-day moving average stayed above its 200-day moving average. The downtrend in Shell stock paused in 2Q17 due to earnings expectations. Shell published its 1Q17 numbers, which exceeded the estimates. However, as WTI continued the fall, Shell stock was pressurized and fell again.

In 3Q17, Shell’s 50-day moving average remained above its 200-day moving average. While Shell stock mainly moved up and down with oil prices in 3Q17, solid 2Q17 numbers had a positive impact on its stock price.

Shell’s Moving Average before Its 4Q17 Earnings

Shell’s moving averages since October 2

Since October 2, 2017, Shell’s 50-day moving average has stayed above its 200-day moving average. Shell stock was likely impacted by higher oil prices in the quarter and higher-than-expected 3Q17 earnings.

Currently, Shell’s 50-day moving average stands 12.1% above its 200-day moving average. The wide gap between the 50-day and 200-day moving average suggests that marginal declines in Shell stock probably won’t lead to its 50-day moving average breaking below its 200-day moving average. The moving averages suggest that Shell stock is placed in technically bullish terrain.

Peers’ moving averages

Shell’s peers’ 50-day moving averages also trade above their 200-day moving averages. PetroChina’s (PTR) 50-day moving average trades 4.9% above its 200-day moving average. Also, YPF (YPF) and Eni’s (E) 50-day moving averages trade 1.4% and 3.8% above their 200-day moving averages. The broader market indicator, the SPDR S&P 500 ETF’s (SPY) 50-day moving average trades 6.0% above its 200-day moving average.

Next, we’ll discuss Shell’s stock price range forecast for the 16-day period before its earnings.

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