USDforecaster
Long

Exxon Mobil Corp (XOM) time for BREAKOUT or FAKEOUT

BATS:XOM   EXXON MOBIL CORPORATION
92 0 0
(hi mods, please delete the other XOM             chart i posted, i forgot the 2.00 extension, thank you)

I'd error on the side of this being a breakout, despite the divergence we are seeing. Divergence can take a while to play out. On a monthly chart with a very long stochastic (55 periods), it could take a couple years even.

Why I favor bulls? Japanese and emerging market capital flows. As their currencies continue to weaken vs the USD, they will continue to seek yield in safe large cap.

Also we have a multi-year cup and handle .

It is not unrealistic to think this company could add an additional $400 billion in market cap.
Global equities increased over $10 trillion in 2013 alone. Apple             shed over $200 billion (then gained some back).


Of course, if emerging markets can make a recovery in 2014, that may limit the potential of the breakout.
However I do not see much in the way of currency strength for emerging markets in 2014.
If anything, a consolidation of the weakness we have seen in 2013.

This is about the safest stock you could ever own, so when technical show bullish , you better go with it.

--- 1/1/2014
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