XOM has traded well post COVID shrugging off much of the weakness across its related commodity space. With concerns creeping into financial markets around US economic fragility we are reticent to advocate XOM close to its all-time highs with tests back under $US100 feeling a strong possibility, especially with OPEC continuing to pump more oil. The stocks trading around the mid-point of the last 2+ years trading range and we see no reason to fight the current trend.
- We like the risk/reward towards XOM if we see a pullback towards $US100.
MM is neutral towards XOM around $US110
Add To Hit List
