Observing the one-day chart of Exxon Mobil, I’ve spotted an upward trend highlighted in yellow. Recent price action shows strength, with a bounce just before the support level. And, we’re seeing a breakout from a smaller downward channel, followed by a return to test it.
The stock closed a gap at 107.73, reinforcing its upward potential. With strong momentum and this backtest, I believe XOM could aim for new highs. My first profit target is 114.45, coinciding with gap fill.
The stock closed a gap at 107.73, reinforcing its upward potential. With strong momentum and this backtest, I believe XOM could aim for new highs. My first profit target is 114.45, coinciding with gap fill.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.