For Exxon Mobil (XOM) stock, “V” stands for volatility and V-shaped moves. The volatility part is due in part to the previous two bouts of European contagion (and whiff of deflation), while the “V” shaped moves are the correlating pattern related to the fear-relief trade. Now above resistance, XOM is attempting to break out.
Near term, XOM needs hold above 86ish. Question is does it have the gas in the tank?
Exxon Mobil (XOM) stock chart with price support and resistance levels. XOM stock chart with technical analysis as of August 15, 2012. XOM stock attempting to break out.
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