Exxon Mobil (NYSE:XOM) Broke Out and is Headed North

Exxon Mobil (NYSE:XOM) Broke Out and is Headed North

$XOM

Both Chevron (NYSE:CVX) and Exxon Mobil Corporation (NYSE:XOM) are considered among the Big Oil players still winning out in Y 2030. 

Some analyst comments have been cautious based on investors having piled back into Chevron based on it having a stronger balance sheet, and perhaps it as reisen too far too fast after bottoming out at just above 50, Chevron stock price marked 103.50 this week before selling off a few points and dipping back below 100.

Exxon Mobil has a $200-B market cap but its 52.00 share price is up less than Chevron’s as its lows in panic selling wave was down closer to 30.00. But XOM broke out on 1 June at 46.28.

Exxon Mobil’s consensus price target is at 50.15, but my work has the Key technical indicators flashing Very Bullish Wednesday and my price target is at 80/85/share and higher later. Exxon Mobil out-yields Chevron with a 6.5% dividend.

My view is that Exxon Mobil will see a strong recovery after yrs of lagging. XOM has begun more than 30 major projects with stronger cash margins compared to its legacy base business.

Have a healthy day, Keep the Faith!

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Paul Ebeling

Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he it the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.