EXXON MOBIL CORP (XOM.N)

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Every week Tech Charts Global Equity Markets report features some of the well-defined, mature classical chart patterns under a lengthy watchlist and the chart pattern breakout signals that took place during that week. Global Equity Markets report covers single stocks from developed, emerging and frontier markets, ETF’s, select commodities, cryptocurrencies and global equity indices. Below chart, Exxon Mobil Corporation is from the breakouts sections of the weekly report. It is featuring a possible rectangle breakout to all-time highs.

EXXON MOBIL CORP (XOM.N)

Exxon Mobil Corporation is an international energy and petrochemical company. The Company’s primary businesses include exploration for, and production of, crude oil and natural gas; manufacture, trade, transport and sale of crude oil, natural gas, petroleum products, petrochemicals, and a variety of specialty products; and pursuit of lower-emission business opportunities including carbon capture and storage, hydrogen, lower-emission fuels, and lithium. The stock is listed on the New York Stock Exchange. Price chart formed a 15 month-long rectangle with the horizontal boundary acting as strong resistance at 119.40 levels. The horizontal boundary was tested several times over the course of the chart pattern. The daily close above 123.00 levels confirmed the breakout from the 15 month-long rectangle with the possible chart pattern price target of 141.00 levels.

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