EXXON MOBIL CORP (NYSE:XOM) was identified as a Technical Breakout Setup Pattern by our stockscreener. Such a pattern occurs when we see a pause in a strong uptrend: after a strong rise the stock is consolidating a bit and at some point the trend may be continued. Whether this actually happens can not be predicted of course, but it may be a good idea to keep and eye on NYSE:XOM.
ChartMill assigns a proprietary Technical Rating to each stock. The score is computed daily by evaluating various technical indicators and properties. The score ranges from 0 to 10.
Taking everything into account, XOM scores 8 out of 10 in our technical rating. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, XOM is showing a nice and steady performance.
Besides the Technical Rating, ChartMill also assign a Setup Rating to every stock. This setup score also ranges from 0 to 10 and determines to which extend the stock is consolidating. This is achieved by evaluating multiple short term technical indicators. NYSE:XOM currently has a 8 as setup rating:
XOM has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 113.95. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 113.24, a Stop Loss order could be placed below this zone.
For a potential trade one would typically wait until the stock breaks out of the consolidation zone to enter the stock and it could be sold again for a loss when it would fall back below the zone.
Of course, there are many ways to trade or not trade NYSE:XOM and this article should in no way be interpreted as trading advice. The article is purely based on an automated technical analysis and just points out the technical observations. Always make your own analysis and trade at your own responsibility.
More breakout setups can be found in our Breakout analyzer.
Big Oil companies led by ExxonMobil and Chevron are paying shareholders bigger buybacks and dividends, evidence their outlook on oil prices is confident.
The European oil giant's shares have lagged U.S. majors like Exxon Mobil and Chevron.
Snap, Hasbro and Funko were all downgraded Wednesday, while Foot Locker was upgraded by Credit Suisse.
The big buybacks of Chevron and Exxon are less impactful than they might seem.
Economic and military uncertainty clouds the outlook for Exxon, Chevron and other energy companies, whose bonanza from high prices is already fading.
The energy colossus posted record profits.
Exxon’s shareholders can thank the President for his limits on U.S. fossil-fuel production.
Exxon Mobil (XOM) reported 2002 profits that smashed its previous record, boosted by surging oil and gas prices after Russia's invasion of Ukraine.
U.S. equities indexes posted a positive performance to end a strong month of January, with positive financial reports contributing to the advance.
The European Union's ban on Russian fuel imports that begins next week is expected to keep profit margins high this year at U.S. oil refiners, executives said on Tuesday, as global fuel trade shifts. A Feb. 5 ban on Russian fuel product imports could keep margins high this year and strain inventories of distillate fuels and vacuum gasoil (VGO), a key Russian intermediate, refiners said on first quarter earnings calls. Exxon Mobil, Marathon Petroleum and Phillips 66 on Tuesday posted strong 2022 refining results, citing high demand for diesel and jet fuel and elevated operating rates.
The White House on Tuesday expressed outrage on Tuesday at Exxon Mobil Corp's record net profit in 2022 of $56 billion, a historical high not just for the company but for the entire Western oil industry. The scale has brought renewed criticism of the oil industry and sparked calls for more countries to levy windfall profit taxes on the companies. A White House statement said Exxon's profit margin was particularly galling as Americans paid record high prices at the pump.
Global energy firms are carefully developing new oil and gas projects—mostly outside the United States.