Boston, MA 04/10/2014 (wallstreetpr) – Exxon Mobil Corporation (NYSE:XOM) (Closed at $97.33, Down 0.12%) after its positive opening immediately fell and traded negative whole day the result of which closed negative. The traded volumes of 10.5 million were a bit less against the average volumes of 11.62 million suggesting a regular trading session. Exxon Mobil Corporation operates petroleum and petrochemicals businesses over the globe. The Company’s operations include exploration and production of electric power generation, oil and gas and coal and minerals operations. Exxon Mobil additionally produces and lubricants, markets fuels, and chemicals.
On price charts Exxon Mobil Corporation (NYSE:XOM) is in secular uptrend with trading above all the major moving averages and in all larger time frames. In the last week of the year 2013 this stock made all time highs of $101.74. Currently the stock seems to have completed its corrective phase and ready to make a big bull rally. The previous swing low is near $84. If one finds stock near $86 and $88 then there will be a very good opportunity to grab the stock with a very high reward. This stock has been trading in a channel for the last 2-3 years where its long term support is near $84 and resistance near $112. The high readings of accumulation and distribution line signify huge buying interest in the stock of Mobil Corporation (NYSE:XOM). Its been trading in a channel from many years where its long term support is near $84 and resistance near $112.
Currently the stock is trading at $97.33 and this stock is a buy on every dip. Investors having positions in the shares of Exxon Mobil Corporation (NYSE:XOM) can remain in the position with the stop losses below the levels of $82 and if wants to book profits can book near $110 as the stock looks strong and may touch these prices in vary short term. The stock is available at attractive valuations where its P/E ratio is 13.20 and EPS is 7.37.
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