This is just the same old cycle, which has played out time and again.
A close below $153 would be negative and a close above $168 with expanding volume would be a short-term positive.
Prices have improved, but it would be good to see more volume and a more bullish tone before committing to the long side.
The stock has spent enough time above $25 to make us more positive on the name.
It could trade sideways for a bit, building a bigger base for a more sustained rally depending on what oil prices do.
Stocks end week with listless trading even after earnings disappointment from high-flying Amazon.
Thursday's action marks a change in approach.
It's important not to get too excited by the uptick in action.
There's been strong and aggressive buying in recent weeks.

Novice Trade: XOM Real Money Pro($)

The proverbial last long might have already bailed.


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