AP: Declining Nymex Crude Oil prices and the stock to use as its proxy
By Richard Suttmeier
Crude oil prices are well below my annual pivots at $76.30 and $78.40, which indicates risk to the 120-month simple moving average at $46.90, as shown on today’s chart.
Exxon Mobil is my stock of choice with a BUY rating according to ValuEngine. Fair value is $89.86 so the stock is 19.2% undervalued. Exxon is currently not a member of the model portfolio in Richard Suttmeier’s Sector Report, but it has been actively traded with my Buy and Trade Strategy. Each time the stock dips into the $65.25 to $64 a share range it is added to the model portfolio for a trade. My annual pivots at $67.86 and $77.20 have been magnets helping these trades work.
