Technical outlook: RDSA.as bullish scenario:
We have technical figure Falling Wedge in Dutch company Royal Dutch Shell PLC (RDSA.as) at daily chart. Shell, is an Anglo-Dutch multinational oil and gas company headquartered in the Netherlands and incorporated in England. It is one of the oil and gas "supermajors" and the third-largest company in the world measured by 2018 revenues (and the largest based in Europe). In the 2020 Forbes Global 2000, Royal Dutch Shell was ranked as the 21st-largest public company in the world. Shell was first in the 2013 Fortune Global 500 list of the world's largest companies; in that year its revenues were equivalent to 84% of the Dutch national $556 billion GDP. The Falling Wedge has broken through the resistance line at 31/10/2020, if the price holds above this level we can have possible bullish price movement with forecast for the next 29 days towards 12.878 EUR. Our stop loss order should be placed at 9.863 EUR if we decide to enter this position.
Fundamentals:
- Royal Dutch Shell on Thursday raised its dividend after easily beating quarterly profit forecasts and CEO Ben van Beurden said the group’s oil output probably peaked in 2019 as he spearheads a transition to low-carbon energy. The Anglo-Dutch company hit record earnings from its vast retail division, despite the impact on demand of the COVID-19 pandemic, which it said continued to generate “significant uncertainty”.
Fundamentals:
- Royal Dutch Shell on Thursday raised its dividend after easily beating quarterly profit forecasts and CEO Ben van Beurden said the group’s oil output probably peaked in 2019 as he spearheads a transition to low-carbon energy. The Anglo-Dutch company hit record earnings from its vast retail division, despite the impact on demand of the COVID-19 pandemic, which it said continued to generate “significant uncertainty”.
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