Exxon Mobil Corp. (NYSE: XOM) stock delivered a powerful performance on Friday, closing with significant gains and signaling strong investor confidence. With after-hours trading reinforcing this positive trend, traders are now keenly watching to see if this bullish momentum will carry over into the new trading week. This article analyzes all the critical data from Friday’s session to provide a forecast for what to expect from Exxon stock on Monday.
Review of Friday’s Strong Market Performance
Friday, June 16, was an emphatically positive day for Exxon Mobil. The stock concluded the session at 112.12 USD, surging by +2.39 USD, which translates to a robust 2.18% gain.
The intraday price action tells a story of clear buying strength:
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The stock gapped up significantly at the open (112.35 USD) compared to the previous close (109.73 USD).
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Despite a dip to a low of 110.68 USD, buyers stepped in and pushed the price back up.
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The stock closed very near its session high of 112.53 USD, a classic sign that buyers maintained control straight into the closing bell. This strong finish is often a precursor to continued strength.
Pre-Market Signals Pointing to a Higher Open
Further fueling optimism, pre-market activity shows that the upward pressure continued after the market closed. The stock was seen trading at 112.27 USD, a modest but important gain of +0.15 USD (0.13%).
This after-hours strength suggests that the positive sentiment was not a one-off event and is holding steady. Barring any negative weekend news, this positions XOM stock for another higher open on Monday morning.
Will Exxon Stock Go Up or Down on Monday? The Key Indicators
Based on the available data, the evidence overwhelmingly points toward a continuation of the upward trend on Monday.
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Bullish Momentum: A 2.18% gain followed by a positive pre-market is a powerful combination. It shows sustained buying interest.
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Strong Close: Finishing the day near the high indicates a lack of selling pressure and suggests that investors are comfortable holding the stock over the weekend, expecting higher prices.
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Supportive Fundamentals: The stock carries a respectable P/E ratio of 14.83 and an attractive dividend yield of 3.53%. This high yield can attract income-seeking investors, providing a supportive floor for the stock price.
Key Price Levels to Watch on Monday:
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Immediate Resistance: $112.53 – This was Friday’s high. A clean break above this level on Monday would be a very strong bullish confirmation, likely triggering further buying.
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Immediate Support: $110.68 – This was Friday’s low. For the bullish outlook to remain intact, the stock should stay comfortably above this level. A drop below it would signal a significant shift in momentum.
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52-Week High Resistance: $126.34 – While not an immediate threat, this is the next major long-term target for bulls if the current rally continues.
Is It Right to Invest Today (Monday)?
For a trader considering a position on Monday, the signals are predominantly bullish.
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The Bullish Case (High Probability): The path of least resistance appears to be up. A strategy could be to wait for the market to open and watch for a decisive move above Friday’s high of $112.53. This would confirm the trend and could serve as a solid entry point for a trade targeting higher levels.
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The Bearish Case (Low Probability): The only immediate caution would be if broader market sentiment turns negative or if oil prices reverse sharply. If XOM fails to break Friday’s high and instead falls back below $111.00, it could signal that the rally has run out of steam.
In , the forecast for Exxon Mobil stock on Monday is positive. The combination of a strong Friday close, positive after-hours trading, and solid fundamentals suggests the stock is more likely to go up. Traders should watch the $112.53 level as the key to unlocking the next leg of this rally.
Disclaimer: This analysis is for informational purposes only and is based on the data from the provided image. It does not constitute financial advice. All stock market investments involve risk, and you should conduct your own research and consult a financial professional before making any decisions.
