Houston, TX – Exxon Mobil Corp (XOM) demonstrated significant strength on Thursday, June 20th, with its stock price climbing steadily throughout the day. The energy giant closed with a solid gain, displaying a bullish pattern that has traders optimistic about the start of the upcoming week. This article will analyze Thursday’s price action and lay out the key levels for traders to watch on Monday.
Thursday’s Bullish Session in Detail
Exxon Mobil stock concluded the trading day at
1.51 (1.33%). The intraday chart shows a picture of consistent and controlled buying:
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Positive Open: The stock opened at $113.45, immediately higher than the previous close of $113.19.
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Sustained Upward Trend: Unlike a volatile session, XOM trended upwards methodically throughout the day, indicating sustained buying pressure and a lack of significant selling resistance.
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Closing at the Highs: The stock hit a session high of $115.04 late in the day and closed just shy of that peak, a classic sign of strength. This indicates that buyers were in control right into the market close.
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After-Hours Stability: The stock held its ground in after-hours trading, inching up to $114.78, reinforcing the session’s positive sentiment.
A “trend day” like this, where the stock opens and moves in one primary direction to close near its high, is a textbook bullish signal for technical traders.
Key Data for a Trader’s Analysis
To prepare for Monday, traders should keep these critical metrics on their radar:
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Immediate Resistance: The day’s high of $115.04 is the key level to watch. A decisive break above this price on Monday would signal a continuation of the uptrend.
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Solid Support: The day’s low of $113.18, which is aligned with the previous day’s close, now acts as a firm support level. As long as the stock remains above this area, the bullish thesis remains intact.
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Attractive Fundamentals: With a low P/E ratio of 15.17 and a very strong dividend yield of 3.45%, XOM is attractive to both value and income-oriented investors. This strong fundamental profile can provide a cushion and attract buyers on any potential dips.
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Room to Run: The stock is trading well below its 52-week high of $126.34, suggesting there is significant room for upward movement before it encounters major long-term resistance.
Outlook: Will XOM Stock Go Up or Down on Monday?
All signs from Thursday’s session point towards a bullish continuation on Monday.
The Bullish Case (The Most Probable Scenario):
The sustained buying pressure, strong close, and positive fundamentals create a compelling case for further upside. The most likely scenario for Monday is that buyers will attempt to push the stock through the $115.04 resistance level. A successful breakout could attract more momentum traders and fuel a move higher. The consolidation near the highs after 4:00 PM suggests the stock is gathering energy for its next leg up.
The Bearish Case (A Lower Probability):
A bearish scenario would involve the stock failing to break the
113.18**. Given Thursday’s strength, this seems unlikely without a significant negative catalyst.
The Verdict for Traders
Investing today (i.e., on Monday) presents a compelling bullish setup. The technical and fundamental pictures are aligned, suggesting the path of least resistance is to the upside.
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Strategy for Bulls: Traders could look for an entry on a break above the $115.04 high, which would confirm the trend’s continuation. Alternatively, any small dip towards the $114 level that holds could be seen as a buying opportunity.
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Risk Management: A stop-loss placed below the $113.18 support level would be a prudent way to manage risk in case of an unexpected reversal.
In conclusion, Exxon Mobil stock finished the week on a very strong note. Traders should watch for a potential breakout on Monday as the bulls appear to be firmly in control.
