Followers | 679 |
Posts | 140989 |
Boards Moderated | 36 |
Alias Born | 03/10/2004 |
Tuesday, July 30, 2019 12:58:23 PM
By: Schaeffer's Investment Research | July 30, 2019
• The equity is among the 25 worst stocks to own in August
• Plus, 24 other stocks that tend to struggle in August
The major market indexes are set to wrap up July with a win, with the S&P 500 Index (SPX) pacing for a monthly gain of 2.4%. However, several stocks could underperform next month, if history is any indicator. While this FAANG stock tends to shine in August, fellow blue chip Exxon Mobil Corporation (NYSE:XOM) could slump -- especially if the oil titan kicks off the month with a negative earnings reaction.
Below are the 25 worst stocks to own in August, looking back 10 years. Per data from Schaeffer's Senior Quantitative Analyst Rocky White, XOM has ended the month higher just 20% of the time, averaging a loss of 2.93% -- making it the worst blue chip on the list.
As alluded to earlier, Exxon Mobil is slated to report earnings this Friday, Aug. 2. The shares have moved lower the session after five of the last eight earnings reports, including a one-day drop of 2.1% in late April, and a 2.8% decline this time a year ago. Regardless of direction, XOM shares have averaged a post-earnings swing of 2.6% after the last eight reports.
From its Dec. 24 seven-year closing low of $65.51 to April's year-to-date closing high above $83, XOM rallied more than 27%. The equity ultimately took a spill to the $71 area in late May, with subsequent rebound attempts halted at its 200-day moving average. Now, XOM is trading around $75.04 -- and just above a 50% Fibonacci retracement of the aforementioned early 2019 rally. From a longer-term standpoint, the security has been in a channel of lower highs since 2016.
Despite the oil stock's struggles of late, options traders have been upping the bullish ante ahead of earnings. Exxon's 10-day call/put volume ratio at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) sits at 2.31, indicating traders have bought to open more than two XOM calls for every put in the past two weeks. What's more, this ratio stands higher than 86% of all other readings from the past year, pointing to a healthier-than-usual appetite for long calls over puts of late.
The overhead August 77.50 call is home to peak open interest across all series, with more than 17,000 contracts outstanding. In the short term, this abundance of bullish bets overhead could translate into an added layer of options-related resistance for XOM.
Read Full Story »»»
• DiscoverGold
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Your Due Dilegence is a must!
• DiscoverGold
Recent XOM News
- Tiny Firm With Big Plans Seeking to Revolutionize Oil & Gas Industry • AllPennyStocks.com • 04/29/2024 10:01:00 PM
- Exxon Mobil Net Profit Drops 28% to $8.22 Billion, Atlassian Surprises with Revenue Boost and Co-CEO Exit, and More in Earnings • IH Market News • 04/26/2024 11:47:51 AM
- U.S. Futures Climb in Pre-Market Trading Amid Tech Gains and Upcoming Inflation Data • IH Market News • 04/26/2024 11:47:25 AM
- ExxonMobil Announces First-Quarter 2024 Results • Business Wire • 04/26/2024 10:30:00 AM
- U.S. Stocks Climb Well Off Worst Levels But Close Mostly Lower • IH Market News • 04/25/2024 08:40:00 PM
- Futures Pointing To Extended Rebound On Wall Street • IH Market News • 04/23/2024 01:11:27 PM
- U.S. Stocks Close On Bright Note Despite Coming Off Day’s Highs • IH Market News • 04/22/2024 08:38:04 PM
- Nasdaq, S&P 500 Extend Losing Streaks On Tech Weakness But Dow Advances • IH Market News • 04/19/2024 08:32:14 PM
- ExxonMobil Makes Application to Cease to be a Reporting Issuer in Canada • Business Wire • 04/15/2024 10:26:00 PM
- ExxonMobil to Release First Quarter 2024 Financial Results • Business Wire • 04/12/2024 04:43:00 PM
- ExxonMobil Guyana moves forward with sixth offshore development • Business Wire • 04/12/2024 11:15:00 AM
- Paramount Global Board Shrinks, Morgan Stanley Faces Regulatory Probe, and More News • IH Market News • 04/12/2024 11:05:29 AM
- Exxon Mobil Forecasts Earnings Decline, Twilio Seeks Board Tenure Changes, and More News • IH Market News • 04/04/2024 11:30:20 AM
- Cal-Maine Surges on Strong Quarterly Performance, Taiwan Earthquake Disrupts Tech Supply Chain, and More • IH Market News • 04/03/2024 11:12:20 AM
- Double E Pipeline Announces Open Season for Available Capacity • PR Newswire (US) • 04/01/2024 09:00:00 PM
- Apple Pre-Market Drop Due to Antitrust Threats, Surprising Profit Boosts Micron Shares, and Latest Market Updates • IH Market News • 03/21/2024 11:17:26 AM
- Unilever Initiates Ice Cream Division Spin-Off and Announces Job Cuts; Berkshire Ramps Up Share Buyback Efforts, and More • IH Market News • 03/19/2024 11:33:10 AM
- Intel Loses Pentagon Funding, Shell Plans 20% Business Team Reduction, and Latest News • IH Market News • 03/13/2024 11:02:03 AM
- CNOOC Oil Field Discovery in South China Sea, Grifols Surges 18% After KPMG Approval, and Latest News • IH Market News • 03/08/2024 11:19:59 AM
- ExxonMobil to Speak at Morgan Stanley’s Energy & Power Conference • Business Wire • 03/05/2024 12:05:00 AM
- Form 8-K/A - Current report: [Amend] • Edgar (US Regulatory) • 02/28/2024 04:44:18 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/28/2024 04:20:12 PM
- Expedia Announces 1,500 Job Cuts; Hims & Hers Surges 19.8% Post Financial Results, and More News • IH Market News • 02/27/2024 11:15:07 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/23/2024 03:39:33 PM
- Nike Workforce Reduction, The Trade Desk Soars 19% on $606 Million Revenue, and Latest News • IH Market News • 02/16/2024 11:08:22 AM
Bantec Engaged in a Letter of Intent to Acquire a Small New Jersey Based Manufacturing Company • BANT • May 1, 2024 10:00 AM
Cannabix Technologies to Deliver Breath Logix Alcohol Screening Device to Australia • BLO • Apr 30, 2024 8:53 AM
Hydromer, Inc. Reports Preliminary Unaudited Financial Results for First Quarter 2024 • HYDI • Apr 29, 2024 9:10 AM
Avant Technologies to Implement AI-Empowered, Zero Trust Architecture in Its Data Centers • AVAI • Apr 29, 2024 8:00 AM
Bantec Reports an Over 50 Percent Increase in Sales and Profits in Q1 2024 from Q1 2023 • BANT • Apr 25, 2024 10:00 AM
Cannabix's Breath Logix Alcohol Device Delivers Positive Impact to Private Monitoring Agency in Montana, USA • BLO • Apr 25, 2024 8:52 AM