Exxon Mobil Vs Chevron: A Technical Analysis

Sometimes stocks of companies that are in the same industry have similar features on there charts. That’s the case with Exxon Mobil Corporation XOM and Chevron Corporation CVX.

Both are trading above well-defined support levels. and both companies are scheduled to report earnings Friday morning.

At support levels, there is more demand for a stock than there is supply. Downtrends end when they reach them, and if the support holds it could be a good time to buy. Sometimes stocks rally off of support levels.

For Exxon, there has been support at the $55 level since March. If the stock drops back to it, there’s a good chance it finds support again.

For Chevron, the support is at the $95 level. If the stock starts to trend lower, there’s a good chance the trend ends when the stock reaches it.