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.

Taking everything into account, XOM scores 8 out of 10 in our technical rating. This is due to a consistent overall performance, although we see some doubts in the very recent evolution. In the medium time frame things are still looking good.

• The short term is neutral, but the long term trend is still positive. Not much to worry about for now.
• Looking at the yearly performance, XOM did better than 95% of all other stocks. On top of that, XOM also shows a nice and consistent pattern of rising prices.
• XOM is currently trading in the upper part of its 52 week range, while the S&P500 Index is trading in the lower part of its yearly range. So XOM is doing quite good in this market.
• In the last month XOM has a been trading in the 79.29 - 92.05 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.
• XOM is an average performer in the Oil, Gas & Consumable Fuels industry, it outperforms 63% of 404 stocks in the same industry.

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. A pullback is taking place, which may present a nice opportunity for an entry. There is very little resistance above the current price. There is a support zone below the current price at 85.75, a Stop Loss order could be placed below this zone.

Trading setups like 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.

Every day, new breakout setups can be found on ChartMill in our Breakout analyzer.