1
Exxon stock price (NYSE: XOM) is stuck in the narrow range of consolidation.
2
XOM stock price sustains above the 50-day and 200-day EMA.
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The volatility in the Exxon Mobil stock is quite low.
Exxon Mobil Corp., XOM stock price is consolidating in a wide range between $100.00 to $112.00. Buyers had tried multiple times to break the higher range and expand upward but were rejected. It shows that $112.00 is a strong supply zone.
XOM stock price sustains above the 50-day and 200-day EMA. It showcases that the trend is still in the upward direction.
Exxon stock formed a strong base near $100 so any short-term downfall will get absorbed by the buyers. In the past 8 months, bears had made multiple attempts to break the $100 support. But they failed and prices bounced back.
Slow and steady prices recovered to reach the higher range. In the mid of August, Exxon Mobil’s stock price broke out the $110 with a higher volume. It created a
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