Friday, April 7, 2017

Annual Trading Forecast for XOM (2017)

Exxon Mobil stock (NYSE:XOM) is an equilibrium market at the present. This equilibrium phase is February, following the massive sell-off that was witnessed in January 2017.

Price is currently located within the upper and lower Trendlines, and a rise in momentum is expected any week from now, which would push price outside the Trendlines.

The lower Trendline has been tested many times without any breach, and price is now inching towards the upper Trendline, which may be breached to the upside as suggested by the RSI period 14 (which is also above the level 50, indicating some strength in the market).

Exxon Mobil is currently a flat market, but it is expected to become a bull market soon. The outlook on the market is bullish for this year.    

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

Traders’ Mindset:  Super Strategies 

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