On June 4, we noted, “Keep an eye on oversold oil stocks, like Exxon Mobil (XOM). For one, XOM is technically oversold at strong support dating back to early April. It’s also slowly pivoting from over-extensions on RSI, MACD, Money Flow, and on Full Stochastics. Two, oil prices are starting to gush higher — especially with an intensifying war with Russia and Ukraine.  

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At the time, XOM traded at about $103. Today, it’s up to $112,48 and could run even higher – especially with the Israel-Iran war, and troubles in the Strait of Hormuz. Plus, with growing fears of an escalating regional war, there’s also the possibility of $100 oil again. 

While we wait to see what happens next with oil and XOM, we can collect is 3.52% yield.  

XOM just paid a 99-cent quarterly dividend on June 10 to shareholders of record as of May 15. Its next payout should be in September.

Sincerely,

Ian Cooper

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