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Stocks to watch at new highs: Exxon Mobile and Petroleo Brasileiro


Two energy stocks and one shipbuilding stock are the stocks to watch as they hit 52-week highs and top buy points on Friday.




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Petrobras (PBRA), Exxon Mobil (XOM) and Huntington Ingalls Industries (HI) near their base’s buying points. Remember, the stock market continues to correct, which makes buying stocks riskier. For now, it’s best to do side research.

Stocks to watch: Energy stocks Petrobras, Exxon Mobil

Brazilian petrol producer Petrobras recovers, breaks out of cup base with 14.06 buy points. The energy source is extended from 5% regional purchasebased on MarketSmith pattern recognition.

Stocks are at a 52-week high, with the relative strength line hitting a news high represented by the blue dot on the weekly MarketSmith chart. PBRA holds 99 pristine Synthetic and Relative Strength Ratings. It has a high return of 31% on equity.

Exxon Mobil bounced off an unspecified base after hitting a buy level of 105.67. Stocks are hitting all-time highs. Its relative strength line also hit a new high.

Energy stocks have posted impressive quarterly EPS growth since the company posted a loss in 2020. Quarterly sales growth has ranged from 53% to 83% over the past four quarters. The company is expected to report third-quarter earnings on October 28.

Shipbuilders exhibit relatively high strength

Military shipbuilder Huntington Ingalls is trading above a 243.56 buy point of a flat base and is in a 5% buy zone. The stock has an RS 94 Rating and an 88 Composite Rating. Its Relative Strength Line hits new highs on the weekly chart.

Huntington Ingalls has a low EPS Rating of 67 due to volatile quarterly EPS numbers. Analysts are predicting 16% annual EPS growth for 2022 and again in 2023.

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