Positive dynamics are supported by the company’s announcement of a partnership with BASF SE to develop methane pyrolysis technology for the production of low-emission hydrogen and solid carbon. As part of this initiative, a new plant is expected to be built in Baytown, Texas, opening additional opportunities to expand supplies to the industrial hydrogen market. Investor demand for the stock is also supported by reports that the oil major may acquire stakes in Kazakhstan’s Karachaganak and Tengiz fields, as well as Iraq’s West Qurna-2 field — assets previously owned by PJSC Lukoil, which is now under U.S. sanctions.
On the other hand, the stock’s growth is limited by concerns about a potential oversupply of crude oil, which many analysts expect in the medium term, as well as uncertainty around the future policy of the U.S. Federal Reserve. In December, the regulator may choose to refrain from further monetary easing, a factor that strengthens the U.S. dollar relative to alternative assets.
Support and resistance levels
The trading instrument is currently near 118.75 (Murray level [8/8]). A breakout and consolidation above this level would open the way toward 121.88 (Murray level [+2/8]) and 125.00 (Murray level [8/8], W1). However, if the price falls below 115.62 (Murray level [6/8]), which lies below the middle line of the Bollinger Bands, a decline toward 112.50 (Murray level [4/8]), 109.38 (Murray level [2/8]) and 106.25 (Murray level [0/8]) becomes likely.
Technical indicators maintain a buy signal: the Bollinger Bands are turning upward, the MACD histogram remains stable in the positive zone, and the Stochastic is trending downward, allowing for a limited correction before a potential reversal.
Resistance levels: 118.75, 121.88, 125.00.
Support levels: 115.62, 112.50, 109.38, 106.25.
Trading scenarios and ExxonMobil forecast
Long positions may be opened above 118.75 with targets at 121.88 and 125.00 and a stop-loss at 116.60. Implementation horizon: 5–7 days.
Short positions may be opened below 115.62 with targets at 112.50, 109.38 and 106.25 and a stop-loss at 118.10.
Scenario
| Timeframe | Weekly |
| Recommendation | BUY STOP |
| Entry Point | 118.80 |
| Take Profit | 121.88, 125.00 |
| Stop Loss | 116.60 |
| Key Levels | 106.25, 109.38, 112.50, 115.62, 118.75, 121.88, 125.00 |
Alternative Scenario
| Recommendation | SELL STOP |
| Entry Point | 115.60 |
| Take Profit | 112.50, 109.38, 106.25 |
| Stop Loss | 118.10 |
| Key Levels | 106.25, 109.38, 112.50, 115.62, 118.75, 121.88, 125.00 |