June 27, 2022

Market and Financial News

Market and Financial News Aggregator

Exxon Mobil, Google Lead Five Stocks Near Buy Points For Resilient Portfolio

2 min read

Investors have a wide variety of stocks to follow, as the market sprinkles pixie dust over some key industries. Oil stock Exxon Mobil (XOM), tech giant Alphabet-owned Google (GOOGL) and drugmaker Eli Lilly (LLY) are among the names to watch. Diversified management firm Ares (ARES) and infrastructure play W.W. Grainger (GWW) round out the group.




X



Russia’s Ukraine invasion has pushed energy prices higher on supply concerns. That’s bad news for consumers at the pump. But it’s also pushed up profits for oil and gas producers like Exxon Mobil and others. XOM stock and other energy plays are holding up well even with crude prices off March highs.

Pharmaceutical companies like Eli Lilly have benefited from the need for Covid vaccines and treatments, while the Biden administration’s huge spending bill improves the outlook for industrial suppliers like W.W. Grainger.

Holding a diverse portfolio of leaders reduces the risk of big losses in a particular stock or sector.

LLY stock is on Leaderboard. Google stock is on IBD Long-Term Leaders and the IBD 50. XOM stock is on the IBD Big Cap 20,

Exxon Stock

Irving, Texas-based Exxon Mobil found support at its 10-week line on March 15. XOM stock is just 2.9% above the 10-week line, well within range for a buying opportunity. Using this week’s 10-week line test, 80.83 would be the low end of the buy range, according to MarketSmith chart analysis. XOM stock could also consolidate and form a base in a couple of weeks.

Exxon stock fell 2.4% to 83.12 last week, but that was well off lows. Its relative strength line is ticking upward. Exxon Mobil’s RS Rating is 96 out of a best possible 99. Its EPS Rating is 72.

Exxon Mobil’s stock fell slightly Thursday, after President Joe Biden said he would release some U.S. oil reserves to reduce pain at the pump for consumers, who are paying around $6 a gallon for gasoline in some states. Crude oil prices plunged 13% last week to below $100 a barrel.

Exxon Mobil is involved in…



2022-04-02 08:00:43

All news and articles are copyrighted to the respective authors and/or News Broadcasters. VIXC.Com is an independent Online News Aggregator


Read more from original source here…

Leave a Reply

Copyright © All rights reserved. | Newsphere by AF themes.