XOM Price Analysis: Is XOM Stock Price Ready To Rally Above Its 52 Week High?

• Exxon mobil stock price has seen a jump of above 25% from the past month with its strong earnings.
• Exxon has been expected to post a strong earnings in this fiscal quarter. The asset price has seen a dip of 0.35% in the intraday session.

Exxon mobil stock price is currently dabbling near its 52 week high. It has seen a strong growth in the past quarter and has exceeded the wall street expectations. The company is expected to post a strong earnings per share for the current quarter. Various analysts are expecting sales over $100 Billion  for the current quarter indicating a strong year on year growth. The company reported earnings has soared over 181% while the revenue has seen a jump of 52%. Meanwhile the company has also announced a 91 cents per share dividend for the fourth fiscal quarter.

The company has a current market cap of 466.23 Billion with an EPS of 12.25. Various analysts are expecting a strong growth in the future.

Bulls Are Looking To Push XOM To A New High

The weekly technical chart of the XOM suggests a strong upside trend for the future. On coming to the daily chart the asset price has been trading near the value of $113 with a loss of 0.35%. Resistance of the asset price can be seen near $120. Meanwhile the support of the asset can be seen near $100. The asset price is currently trading above the 50 and 100 Daily Moving Average. There can be a positive crossover in the future which can push the price to a new high.

RSI of the asset price is near 59 with a small negative slope. The overall sentiment of the RSI is bearish.

Conclusion

Exxon mobil stock price has given a strong earnings for the current quarter and can see a strong growth in the next. XOM stock price is looking to push beyond the 52 week high and looking to rally for a new high.

Technical Levels

Major Support:$100

Major Resistance: $120

Disclaimer 

The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

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Nancy J. Allen

Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.

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