Exxon Mobil Corporation (XOM) Is Now On The Radar Because Of Its Technical Chart
Exxon Mobil Corporation (XOM) is now trading with a very clear set of technicals. Taken together they paint a very compelling picture of how investors and traders should be approaching XOM. Technical charts are very important tools for traders, but they can only be unlocked provided they are being used sensibly.
XOM’s most recent trading session saw the stock achieve a high of $81.34 and a low of $81.04. The high in the most recent session compares poorly to the established 52-week high of $95.55 which was set by XOM on 07/15/16. The recent low represents a 0.25% since 04/19/17 which is a good sign for traders looking to capitalize on the stock’s upside. The current trading pattern for the stock is very telling when one looks at the overall sentiment of analysts. Presently there is a target price of $87.50 set for XOM, a figure which is below the most recent high set by the stock. The stock also has a beta of 0.85. Since the beta is less than 1, it can be interpreted that the stock is theoretically less volatile than the market – something traders will surely be keeping an eye on.
There are other technical factors that have started to present an impactful picture based on the state of play for the stock. Both the Relative strength indicator (RSI) and Stochastic measures have come into play for XOM. Based on current readings for XOM, the 14-day RSI is 36.88%. This suggests that XOM is neutral, suggesting that the stock is relatively stable in terms of upward or upward price movement. The stochastic reading is also very revealing based on current readings. In this case, XOM has a stochastic reading of 14.11%. This suggests XOM is oversold at current levels. XOM also paints a compelling picture via its 50 and 200 SMAs. XOM, based on the current trend can be considered bearish. This sentiment has created an attitude towards the stock which can be reasonably said to be negative.
One more set of technicals when explored are capable of providing a better picture for the stock’s upside. XOM’s -1.55 has created a negative sentiment when measured over the past 30 days. XOM has underperformed the S&P 500 by -24.18. This, has concluded initially, has created lower volatility levels when compared to other stocks in the same sector. Historical volatility for XOM is showing a reading of 9.69%. XOM also presents with an Average True Range reading of 0.99. XOM, unlike many other similar stocks of the same technical profile, has shown a clear hand. The signals produced by the technical chart is near-enough infallible so traders should make the best of the clarity while it lasts.