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The Exxon stock price gained 3.35% on the last trading day (Tuesday, 22nd Nov 2022), rising from $110.55 to $114.25. During the last trading day the stock fluctuated 2.54% from a day low at $111.43 to a day high of $114.27. The price has fallen in 6 of the last 10 days but is still up by 0.22% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 11 million more shares were traded than the day before. In total, 11 million shares were bought and sold for approximately $1.31 billion.
Piper Sandler is very positive about XOM and gave it a "$113.00 - $131.00" rating on Nov 11, 2022. The price target was changed from 113 to 131.Over the last 90 days, this security got 7 buy, 1 sell, and 0 hold ratings.
The stock lies in the upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $116.20 will firstly indicate a stronger rate of rising.Given the current short-term trend, the stock is expected to rise 24.39% during the next 3 months and, with a 90% probability hold a price between $122.62 and $144.54 at the end of this 3-month period.
The Exxon stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $112.85 and $107.38. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, November 15, 2022, and so far it has fallen -0.149%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
On the downside, the stock finds support just below today's level from accumulated volume at $98.00 and $95.59.There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Exxon finds support just below today's level at $98.00. If this is broken, then the next support from accumulated volume will be at $95.59 and $93.21.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $2.83 (2.54%) between high and low. For the last week, the stock has had daily average volatility of 2.39%.
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Exxon stock to perform well in the short-term.
Check full Exxon forecast and analysis here.