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- 1 XOM stock price is trying to sustain at the current level to surge towards the upper recovery level.
- 2 XOM shares are trying to remain above the 20, 50, 100, and 200-day daily moving averages.
- 3 Exxon Mobil Corp. (NYSE: XOM) is an American multinational oil and gas corporation and the largest direct descendant of John D. Rockefeller’s Standard Oil.
XOM stock price is trying to sustain at the current level to surge from the neckline and recover maximum over the daily time frame chart. XOM shares need to maintain the upside trend to recover maximum. However, sellers may approach to sell Exxon Mobil Corp shares if it falters at the neckline during the day’s trading session. Meanwhile, XOM share price initiated its recovery from the accumulation phase and is heading towards the distribution phase to recover maximum over the daily time frame chart.
XOM stock price was at $107.24 and gained 2.96% of its market capitalization during the day’s trading session. Meanwhile, trading volume can be seen above average which signifies the accumulation rate of buyers. Investors in XOM shares need to wait until the XOM stock price sustains and continues the recovery phase.
Will XOM Stock Price Continue Its Recovery?
XOM stock price is gaining a strong upside trend towards the distribution phase over the daily time frame chart. XOM shares need to maintain this recovery phase of XOM towards the distribution phase and keep on surging. Meanwhile, XOM shares are trying to remain above the 20, 50, 100, and 200-day daily moving averages.
Moreover, XOM share price gained 2.76% in a week and has lost 0.07% in a month. Also, XOM shares dropped around 5.88% in the last three months and 7.42% in the last six months. Nevertheless, XOM stock price has gained around 13.54% in a year.
Technical indicators suggest the upside trend of XOM stock price. The relative strength index and moving average convergence divergence show the upward momentum of XOM shares.
RSI was at 57 and is heading towards the overbought territory from neutrality. The MACD line is above the signal line after a positive crossover and also the MACD line is entering the positive zone from the zero line.
Investors in Exxon Mobil Corp (NYSE: XOM) need to wait for the recovery of XOM stock price towards the distribution phase.
Summary
The XOM stock price is attempting to hold at the present level in order to surge from the neckline and recover as much as possible on the daily time frame chart. However, if Exxon Mobil Corp shares weaken at the neckline throughout the day’s trading session, sellers may approach. Furthermore, the XOM share price increased by 2.76% in a week and decreased by 0.07% in a month. Technical indicators point to an upward trend in the XOM stock price. Investors in Exxon Mobil Corp (NYSE: XOM) must wait for the XOM stock price to rebound before entering the distribution phase.
Technical Levels
- Support Levels: $105.00 and $102.40
- Resistance Levels: $108.40 and $110.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
