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ExxonMobil Corp. Technical Analysis

2/13/2023 3:26 PM

The shares of ExxonMobil Corp., an American oil company, are moving within a long-term ascending channel, actively testing its upper limit around 118.75 (Murrey level [6/8]). In case of consolidation above it, further growth targets will be 125.00 (Murrey level [8] /8]) and 128.12 (Murrey level [+1/8]). The key “bearish” level is the central mark of the Murrey trading range 112.50 (Murrey level [4/8]) below the middle line of Bollinger bands, the breakdown of which will give the prospect of quotes returning to levels 106.25 (Murrey level [2/8]) and 100.00 (Murrey level [2/8] Murrey [0/8]).

Technical indicators point to the continuation of the upward trend: Bollinger bands and Stochastic are directed upwards, while the MACD histogram is increasing in the positive zone.

Resistance levels: 118.75, 125.00, 128.12. | Support levels: 112.50, 106.25, 100.00.

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