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

EXXON MOBIL CORP (XOM)       115.15   -0.86 (-0.74%)


News Image
Good technical signals and a possible breakout for EXXON MOBIL CORP.8 days ago - Chartmill

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.

XOM Daily chart on 2023-01-24

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.

Back

XOM Links

XOM News

News Image2 hours ago - CNBCExxonMobil, Chevron's big cash shows cheap gas isn’t coming back

Big Oil companies led by ExxonMobil and Chevron are paying shareholders bigger buybacks and dividends, evidence their outlook on oil prices is confident.

News Image2 hours ago - Barron'sBP May Be Cutting Back on Renewable Spending--and Its Stock Is Rising

The European oil giant's shares have lagged U.S. majors like Exxon Mobil and Chevron.

News Image3 hours ago - CNBCHere are Wednesday's biggest analyst calls: Apple, Amazon, Target, AMD, Exxon, Snap, Nike & more

Snap, Hasbro and Funko were all downgraded Wednesday, while Foot Locker was upgraded by Credit Suisse.

News Image3 hours ago - The Motley FoolThese Energy Stocks Are Beating Exxon and Chevron at Their Own Game. And It's Not Even Close.

The big buybacks of Chevron and Exxon are less impactful than they might seem.

News Image8 hours ago - New York TimesOil Giants, After Surge in Profits, Are Wary About Spending

Economic and military uncertainty clouds the outlook for Exxon, Chevron and other energy companies, whose bonanza from high prices is already fading.

News Image16 hours ago - The Motley FoolWhy ExxonMobil Stock Rallied Today

The energy colossus posted record profits.

News Image16 hours ago - Wall Street JournalOpinion | Joe Biden’s Big Oil Profits

Exxon’s shareholders can thank the President for his limits on U.S. fossil-fuel production.

News Image17 hours ago - InvestopediaExxon Mobile Posts Record Annual Profit

Exxon Mobil (XOM) reported 2002 profits that smashed its previous record, boosted by surging oil and gas prices after Russia's invasion of Ukraine.

News Image17 hours ago - InvestopediaUS Markets Close Out a Strong Month With Gains

U.S. equities indexes posted a positive performance to end a strong month of January, with positive financial reports contributing to the advance.

News Image18 hours ago - Yahoo FinanceU.S. refiners expect Russian fuel sanctions to keep margins high

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.

News Image19 hours ago - Yahoo FinanceUPDATE 1-White House blasts Exxon over historical $56 bln annual profit

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.

News Image19 hours ago - Yahoo FinanceMore oil is coming our way

Global energy firms are carefully developing new oil and gas projects—mostly outside the United States.

Follow us for more