Analyzing ExxonMobil’s Moving Averages in Q1


Mar. 27 2019, Published 11:02 a.m. ET

ExxonMobil’s moving averages

ExxonMobil (XOM) stock has risen 15.5% in the first quarter. We’ll discuss ExxonMobil’s moving averages in the first quarter. We’ll see how the moving averages trended in the past few quarters.

At the beginning of the third quarter, ExxonMobil’s 50-day moving average crossed over its 200-day moving average. The company’s 50-day moving average stayed above its 200-day moving average and rose in the quarter. The rise in ExxonMobil’s 50-day moving average was due to an increase in the stock led by better markets and higher oil prices. In the fourth quarter, ExxonMobil stock fell steeply, which led to a decline in its 50-day moving average. ExxonMobil’s 50-day moving average broke below its 200-day moving average at the end of the fourth quarter.

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Do the moving averages suggest positivity?

The rise in ExxonMobil stock in the first quarter has made positive changes in its moving averages. The gap between ExxonMobil’s 50-day moving average and 200-day moving average, which has risen steeply by the middle of the quarter, has narrowed. ExxonMobil’s 50-day moving average, which was 7.8% below its 200-day moving average on February 22, is 3.4% below its 200-day moving average.

The fact that the gap between ExxonMobil’s 50-day moving average and 200-day moving average has reduced is a favorable sign. The movement implies that with another rise in the stock price, ExxonMobil’s 50-day moving average could cross over its 200-day moving average, which will be a positive breakthrough for the stock.

Peers’ moving averages

Like ExxonMobil, its peers’ 50-day moving averages are below their 200-day moving averages. Total (TOT), ENI (E), and Suncor Energy’s (SU) 50-day moving averages are 5.1%, 3.7%, and 8.3%, respectively, below their 200-day moving averages. BP’s (BP) 50-day moving average is 1.6% below its 200-day moving average.


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