Exxon Mobil Corporation (XOM Stock): Breakout or Fakeout?

Exxon Mobil Corporation (XOM Stock): Breakout or Fakeout?

1
Exxon Mobil stock price closed at $113.52 while witnessing a gain of 2.1% during the last intraday trading session.
2
XOM stock price has climbed above 20, 50, 100, and 200-day exponential moving averages. 
3
The year-to-date return of Exxon Mobil is 3.41%. 
Exxon Mobil (XOM) stock price has been in a strong bullish trend since mid-July 2023, rising from the low of $100.50. The stock price has surged roughly 13% from the low. The energy sector has been witnessing notable strength which has turned energy stocks like Exxon Mobil and Chevron bullish. 
However, during mid-August, the bullish momentum was halted as the price reached near $112. The stock price retraced and consolidated between the range of $112 and $106 for several days. 
Since the last six trading days, the stock price printed a bullish candle and the last candle was successful in breaking and closing above $112. 

Source: XOM Stock Price By TradingView.
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We współpracy z: https://www.thecoinrepublic.com/2023/09/04/exxon-mobil-corporation-xom-stock-breakout-or-fakeout/

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