StockCall Early Morning Insight into Exxon Mobil, Encana, BP plc, and Total

Tue Mar 19, 2013 8:01am EDT

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LONDON,  March 19, 2013  /PRNewswire/ --

The Energy Information Administration (EIA) earlier this year reported that
global crude oil consumption rose by an estimated 0.9 million barrel per day in
2012 to 89.2 barrels per day. The growth in oil consumption was decent given the
weakness in the global economy last year. The EIA expects oil demand to grow by
0.9 million barrels per day in 2013 as well. The outlook is based on the fact
that global oil production is expected to rise due to strength in  North America
 and demand is expected to remain soft due to weakness in the global economic
environment, especially  Europe. Oil companies such as Exxon Mobil Corporation
(NYSE: XOM), EnCana Corporation (NYSE: ECA), BP Plc (NYSE: BP), and Total S.A.
(NYSE: TOT) can expect oil prices to hover around  $90  per barrel in 2013. Oil
and gas stocks fell sharply on Monday as the broad market finished lower for a
second straight trading session. StockCall has issued technical analysis and
charting reports on XOM, ECA, BP, and TOT. Download these free reports now at

Energy sector was among the worst performers in the S&P 500 on Monday. Among the
major losers in the sector was oil and gas giant Exxon Mobil Corporation, which
ended the day 0.67% lower at  $88.77  on volume of 11.55 million. The oil and
gas giant's shares have traded sideways in the last two weeks even as the broad
market rallied. The stock has been struggling to break through  $90  resistance
level. Yesterday, Exxon Mobil's shares slipped below their 50-day moving
average, which is a bearish signal. The bearish trend is further confirmed by
recent volume activity and the stock's MACD chart. Download the free research on
XOM today by registering at   

Shares of EnCana Corporation fell sharply in Monday's trading session. The stock
ended the day 1.87% lower at  $19.96  on volume of 4.38 million. Despite the
sharp decline, the oil and gas major's shares have gained more than 5% in the
last three sessions. However, year-to-date, the stock has gained just a little
over 1%, underperforming the S&P 500. EnCana Corp.'s shares slipped after
failing to break through  $20.50  resistance level. The stock's MACD chart is
still giving bullish signals. The stock is also trading well above its 50-day
moving average. Sign up and have access to our free report on ECA at   

Shares of BP Plc saw a sharp decline in trading yesterday, ending the day 1.02%
lower at  $40.66  on volume of 4.70 million. BP's shares have been trading in a
tight range over the past two weeks, struggling to break through  $41 
resistance level. The stock is trading well below its 50-day and 200-day moving
averages, which is a bearish signal. The stock's MACD is also trading below the
zero-line, further confirming the bearish trend. Sign up and read the
complimentary report on BP at   

Shares of Total S.A. slipped in Monday's trading session. The stock closed 1.59%
lower at  $50  on volume of 1.56 million, taking its losses for the year to
nearly 4%. Total's shares fell to an intra-day low of  $49.73  on Monday. The
stock currently has strong support at around  $49. It faces resistance at around
 $51. The MACD chart for TOT is currently giving bearish signal. The bearish
trend is further confirmed by recent volume activity. The free report on TOT can
be downloaded by signing up now at   

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