Exxon Mobil (XOM) Looks Like A Good Buy Here
Taking a look at the 2009 chart of Exxon Mobile Corporation (XOM) reveals a pretty strong trend line support.
While typically not the type of company I am looking to in the energy sector (too big, not that high of a dividend yield), Exxon is still a great company and their recent acquisition of XTO Energy will be a good investment over the long term in my opinion.
I think it’s a pretty safe buy at current levels. Put a stop loss in just under the trend line, in case the trend breaks. Otherwise, you might be good for a pop of a few bucks a share if it bounces off support as its done this year.
Disclosure: I own a small stake in XOM and might be adding at current levels. My XOM holding is a part of the oil story that I’m following in my Major Trends.