Energy company Exxon Mobil Corp. reported profit in Q3 2023 amounting to 9.1 billion USD. It decreased compared to last year's results but still managed to exceed analysts' expectations.
The recovery in energy prices played a significant role in achieving this profit level. The ongoing tensions in the Middle East have, to some extent, positively impacted the issuer's financial results. If the situation in the energy market changes, Exxon Mobil's profits might begin to fall.
Therefore, today, we focus on the Exxon Mobil Corp. (NYSE: XOM) stock chart.
On the D1 timeframe, support has formed at 105.11, with resistance at 116.44. There were attempts to break through support, and a "false" breakout at 105.11 is likely to develop. There are attempts to rebound in the premarket, but they are very weak.
On the H1 timeframe, if there is a rebound from the 105.11 level, there is a chance that the new upward movement will start with the short-term target at 114.55. In the medium term, the target for the price increase can be around 120.52.
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Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67.85% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
The recovery in energy prices played a significant role in achieving this profit level. The ongoing tensions in the Middle East have, to some extent, positively impacted the issuer's financial results. If the situation in the energy market changes, Exxon Mobil's profits might begin to fall.
Therefore, today, we focus on the Exxon Mobil Corp. (NYSE: XOM) stock chart.
On the D1 timeframe, support has formed at 105.11, with resistance at 116.44. There were attempts to break through support, and a "false" breakout at 105.11 is likely to develop. There are attempts to rebound in the premarket, but they are very weak.
On the H1 timeframe, if there is a rebound from the 105.11 level, there is a chance that the new upward movement will start with the short-term target at 114.55. In the medium term, the target for the price increase can be around 120.52.
—
Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67.85% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.