Good technical signals and a possible breakout for EXXON MOBIL CORP.

Our stock screener has spotted EXXON MOBIL CORP (NYSE:XOM) as a possible breakout candidate. A technical breakout setup pattern occurs when the stock is consolidating after a nice uptrend. Whether the actual breakout occurs remains to be seen of course, but it may be interesting to keep an eye on NYSE:XOM.

Technical Analysis Observations

ChartMill assigns a Technical Rating to every stock. This score ranges from 0 to 10 and is updated daily. The score is determined by evaluating multiple technical indicators and properties.

We assign a technical rating of 8 out of 10 to XOM. 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.

• The long and short term trends are both positive. This is looking good!
• Looking at the yearly performance, XOM did better than 92% of all other stocks. We also observe that the gains produced by XOM over the past year are nicely spread over this period.
• XOM is one of the better performing stocks in the Oil, Gas & Consumable Fuels industry, it outperforms 79% of 393 stocks in the same industry.
• XOM is currently trading near its 52 week high. This is a good sign, certainly because the S&P500 Index is not trading near new highs.
• In the last month XOM has a been trading in the 104.10 - 114.59 range, which is quite wide. It is currently trading near the high of this range.

Why is NYSE:XOM a setup?

Next to the Technical Rating, the Setup Rating of a stock determines to which extend the stock is consolidating. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. For NYSE:XOM this score is currently 8:

XOM has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. 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 111.73, a Stop Loss order could be placed below this zone.

How to trade NYSE:XOM?

One way to play this would be to wait for the actual breakout to happen and buy when the stock breaks out above the current consolidation zone. A possible place for a stop loss would be below this 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.

Our Breakout analyzer lists more breakout setups and is updated daily.