Will ExxonMobil’s Earnings Push Its Moving Averages?



ExxonMobil’s moving average trend in the first quarter

Before we discuss ExxonMobil’s (XOM) moving average this month, let’s look at its moving average trend in the first quarter.

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In the first quarter, ExxonMobil’s 50 DMA (50-day moving average) moved closer to its 200 DMA (200-day moving average). This move was due to an 18.5% rise in ExxonMobil stock, which was driven by an increase in oil prices and equity markets. In the first quarter, oil prices rose 32.4% and equity markets rose 13.0%.

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ExxonMobil’s moving average in April 2019

In April so far, ExxonMobil’s 50 DMA has risen 0.9%, led by a 1.5% rise in ExxonMobil stock. The surge in ExxonMobil’s 50 DMA has moved very close to its 200 DMA. ExxonMobil’s 50 DMA now stands just 1.3% below its 200 DMA.

ExxonMobil’s 50 DMA is on the verge of crossing over its 200 DMA. Usually, when a short-term DMA crosses over a long-term DMA, it’s considered a technically bullish sign.

If ExxonMobil posts better-than-expected first quarter earnings, it’s stock price and its 50 DMA could surge. ExxonMobil is expected to post its Q1 2019 earnings on April 26. Stronger market conditions and better oil prices could further support the stock.

Peers’ moving averages

BP’s (BP) 50 DMA has just crossed over its 200 DMA. Now, BP’s 50 DMA stands 0.1% above its 200 DMA. Chevron’s (CVX) 50 DMA also stands 1.5% above its 200 DMA. However, Royal Dutch Shell (RDS.A) and Total’s (TOT) 50 DMAs are 2.1% and 4.1% below their 200 DMAs, respectively.


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