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Archive
- 4/19/2024 -
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Exxon Mobil Corp. (XOM) Technical Analysis
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| Summary:
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| | It was the negative week for the Exxon Mobil Corp. (XOM). During the week, the XOM gave back -0.49 points, or -0.41%, and closed at 119.88 on Friday, April 19, 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 123.75 on April 12, 2024. XOM gained -93.64 points, or -310.99%, in 211 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 103.05 and resistance is at 133.62. 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 123.75 on April 12, 2024. XOM gained -27.98 points, or -29.22%, in 11 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 112.73 and resistance is at 125.60. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See XOM weekly technical indicators chart]
Weekly Relative Strength Index and Williams' Percentage Range are overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index and Williams' Percentage Range or strongly overbought weekly 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, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. 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 April 17, 2024 at 117.12 and reached 120.93 on April 19, 2024. XOM gained -3.81 points, or -3.25%, in 2 days. The price is now at the 27.56% retracement level.
 Daily Technical Indicators: [See XOM daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
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