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Downtrend Broken Resist.Archive
- 4/5/2024 -
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Exxon Mobil Corp. (XOM) Technical Analysis
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| Summary:
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| | It was a eighth consecutive positive week for the Exxon Mobil Corp. (XOM). During the week, the XOM gained 5.13 points, or 4.41%, and closed at 121.37 on Friday, April 5, 2024. It was the best weekly gain since January 26, 2024. XOM was trading at average weekly trading volume.
XOM is a member of Energy Sector. Energy is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See XOM long-term trend chart]
A long-term uptrend had started on March 23, 2020 at 30.11 and reached 122.15 on April 5, 2024. XOM gained -92.04 points, or -305.68%, in 210 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 102.28 and resistance is at 132.85. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a long-term trend.
 Medium-term trend: [See XOM medium-term trend chart]
A medium-term uptrend had started on January 22, 2024 at 95.77 and reached 122.15 on April 5, 2024. XOM gained -26.38 points, or -27.55%, in 10 weeks. The chart has formed a Ascending Triangle chart pattern. The uptrend resistance line (110.49) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.
 Weekly Technical Indicators: [See XOM weekly technical indicators chart]
Weekly Relative Strength Index is overbought while Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index or strongly overbought weekly Williams' Percentage Range and Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.
The weekly MACD line is above its signal line since February 16, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term uptrend is strong. Use the following link to access a MACD help.
 Short-term trend: [See XOM short-term trend chart]
A short-term uptrend had started on March 4, 2024 at 104.03 and reached 122.15 on April 5, 2024. XOM gained -18.12 points, or -17.42%, in 32 days. Price is near the trend high.
 Daily Technical Indicators: [See XOM daily technical indicators chart]
Daily Williams' Percentage Range is overbought while Relative Strength Index and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range or strongly overbought daily Relative Strength Index and Lane's Stochastic. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal.
The daily MACD line is above its signal line since February 14, 2024. This is an indication that the short-term trend is up.
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