Exxon Mobil Corp ( XOM) should always be included whenever we consider the energy sector. Many fundamental analysts have been negative on the sector for various reasons, and on XOM. But at least one sell-side bear on the stock finally capitulated today. 
Let's check out the charts.
In this daily bar chart of XOM, below, we can see a positive looking set up. Prices have rallied the past 12 months. XOM has not doubled in the past year but it has delivered an impressive return over the past 12 months. Prices are trading above the rising 50-day moving average line and the rising 200-day line.
The On-Balance-Volume (OBV) line shows a strong rise from September and this tells us that buyers are more aggressive as well as confirms the price gains. The Moving Average Convergence Divergence (MACD) oscillator is bullish and pointed higher telling us that the current trend is strong.
In this weekly Japanese candlestick chart of XOM, below, we can see the past three years of activity. Prices have broken out on the upside for a new high for the move up. Prices are back to levels not seen since 2019. The double bottom in 2020 is working great. Prices are above the rising 40-week line. The OBV line is bullish and so is the MACD oscillator.
In this daily Point and Figure chart of XOM, below, we can see an upside price target in the $105 area.
In this weekly Point and Figure chart of XOM, below, we used a five box reversal filter. Here the $136 area is the target.
Bottom line strategy: With crude oil prices in a strong uptrend and the charts and indicators for XOM very bullish, you have to trade XOM from the long side. Use a dip closer to $70 for your purchases. Risk to $65. The $100-$105 area is our first price objective.
