okay just what can we expect from
ExxonMobil where is this stock going stick around and I’ll show you hi I’m
Robert Edinger and this is your stock market minute okay today we’re looking
at Exxon Mobil ticker symbol XOM this is going to be a pretty easy and pretty
quick analysis from a technical standpoint so what can we expect from
one of the world’s largest oil companies so we can see in the past Exxon had been
following this long term diagonal trend line and we’ve had a few anchor points
here one of the most recent strong ones 2010 and 2014 and we can see it really
tried to break and it did eventually break in 2014 so anybody that would have
held this for any amount of time would have been getting about a 13 and a half
percent return annually meaning as long as a stock stayed above this trendline
your return would have been thirteen and a half percent but as we can see we
broke through and has not really done much sense could not break the $90 price
there so then what is going on with Exxon so this is a possibility we have a
strong support at 25 right there we can see there’s level of interest there but
it would really have to sell off to come to that so I don’t know if I really see
this happening there’s also a possibility some other support and
resistance levels it is possible that this thing could trend between these two
levels for years until finding some sort of diagonal support but this is what I
really think is going on so let’s get rid of all of this if you’ve seen any of
my videos in the past you’ll know that stocks routinely will trade between two
diagonal trend lines an upper and a lower and sometimes if I’m having
trouble identifying a lower trendline I will try to identify a trend line on the
top like this and this might give us a better idea of what this stock is gonna
be doing so this trend line is an eleven point three one
percent annual trend meaning if this stock just held this line right here
you’d be looking at a return of eleven point three one percent so how can we
use this to find the bottom trend well what I will do many times is I will just
transpose this trend line to the bottom so let’s do that and see what happens
see what it looks like so now I’ve taken this eleven point three one percent
trend line and just transposed to here to the bottom so I just copied over and
this is also an eleven point three one percent trend line and this might shed
some more light of what I think is a good possibility for ExxonMobil now as I
showed you before this can continue on trend in between these two levels so
here we’re looking at about $90 as a strong resistance and here we’re looking
at seventy five is a fairly strong support so even though it is broke
through these are definite levels here so we could possibly trend between these
two lines until we get to this diagonal trend line we could be looking at 2018
somewhere in there to be reaching a sixty five dollar mark again at some
point it’s gonna want to start trending up again unless of course Exxon Mobil
just really gets in trouble and breaks through this diagonal trend and goes to
no-man’s land remember these are etched stone and
this is not a prediction this is just a possibility this has been your stock
market minute so until next time remember to spend a minute today to make
a million tomorrow see you later