Uncovering Noteworthy Technical Analysis Findings for EXXON MOBIL CORP (NYSE:XOM).

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.

Zooming in on the technicals.

At ChartMill, a crucial aspect of their analysis is the assignment of a Technical Rating to each stock. This rating, ranging from 0 to 10, is calculated daily by considering numerous technical indicators and properties.

Overall XOM gets a technical rating of 7 out of 10. XOM has been a medium performer in the overall market. Some doubts are observed in the medium time frame, but recent action was very positive.

• The short term trend is positive, while the long term trend is neutral. So this is evolving in the right direction.
• In the last month XOM has a been trading in the 100.42 - 107.98 range, which is quite wide. It is currently trading near the high of this range.
• When comparing the performance of all stocks over the past year, XOM turns out to be only a medium performer in the overall market: it outperformed 45% of all stocks.
• XOM is an average performer in the Oil, Gas & Consumable Fuels industry, it outperforms 49% of 215 stocks in the same industry.
• XOM is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so XOM is lagging the market.

Our latest full technical report of XOM contains the most current technical analsysis.

How do we evaluate the setup for NYSE:XOM?

ChartMill incorporates a Setup Rating in its analysis, which measures the extent of consolidation in a stock over recent days and weeks. This rating, ranging from 0 to 10, is updated daily and takes into account multiple short-term technical indicators. The current setup rating for NYSE:XOM is 8:

XOM has an excellent technical rating, but the quality of the setup is only medium at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.

How can NYSE:XOM be traded?

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.

Please note that this article should not be construed as trading advice. The information provided is solely based on automated technical analysis and serves to highlight technical observations. It is important to conduct your own analysis and make trading decisions based on your own judgment and responsibility.

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

Disclaimer

This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.