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Upgrade Alert for Exxon Mobil (XOM)

By Nick Russo

Exxon Mobil (NYSE:XOM) was upgraded from Hold to Buy at Argus Research today. The stock closed yesterday at $89.35 on volume of 9.7 million shares, below average daily volume of 10.5 million.

Exxon Mobil (NYSE:XOM) defies analysts with a current price ($89.35) 6.5% above its average consensus price target of $83.58. The stock should discover initial support at its 50-day moving average (MA) of $84.43 and subsequent support at its 200-day MA of $79.62.

Over the past year, Exxon Mobil has traded in a range of $66.55 to $90.09 and closed yesterday at $89.35, 34% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has risen 0.2%.

Exxon Mobil Corporation operates petroleum and petrochemicals businesses on a worldwide basis. The Company's operations include exploration and production of oil and gas, electric power generation, and coal and minerals operations. Exxon Mobil also manufactures and markets fuels, lubricants, and chemicals.

SmarTrend recommended that subscribers consider buying shares of Exxon Mobil on February 5th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $79.33. Since that recommendation, shares of Exxon Mobil have risen 12.9%. We continue to monitor XOM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades Exxon Mobil

Ticker(s): XOM