Shell Stock

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Shell stock is near a 56.23 buy point after rebounding from its 21-day line. It has built a bullish base-on-base formation due to firm support at the 50-day line. SHEL stock edged higher last week, flirting with breakout on Friday before backing off.

The stock has bounded away from its 10-week line of late. And while the RS line has been choppy in recent weeks it is still in the midst of a general uptrend since the start of the year.

Stock market performance is a key strength for Shell stock. It is the top 5% of stocks in terms of price performance over the last 12 months, with shares popping nearly 40% during that period.

Earnings are also solid, though its EPS Rating of 77 out of 99 is nowhere near as impressive. Nevertheless, analysts expect the company’s earnings to jump this year. They see EPS surging 61% to $8.04. They also see sales jumping 40% to $365.5 billion.

The recent IBD Stock Of The Day has been attracting investment from Big Money of late. This is reflected in its Accumulation/Distribution Rating of A-. It also boasts a low P-E rating of 11, which is about half that of the broader S&P 500.

SHEL stock is gaining after Russia’s invasion of Ukraine drove energy costs higher and, after some early missteps, Shell joined other energy leaders in exiting all of its operations in Russia.

But questions remain about the impact from China’s recent Covid lockdowns, efforts to lower gas prices and whether those efforts can effectively provide any relief for consumers.

Oil prices tumbled 13% last week to $99.76 per barrel, as the U.S. led many nations in releasing emergency oil reserves

Shell executives are among of a group of six big oil names set to testify before a House hearing this coming week, looking into allegedly disproportionate increases in gasoline prices.

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Time Stamp: April 12, 2022