Can Exxon Mobil Break Out of Its Range?

About: Exxon Mobil Corporation (XOM)
by: Bespoke Investment Group
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Bespoke Investment Group
Registered investment advisor, macro, ETF investing

As the biggest stock in the world, Exxon Mobil's (NYSE:XOM) stock performance significantly impacts the cap-weighted indices that it is in.

The stock has basically been trading in a range from about $65 to $75 since May, so it hasn't been one of the names really leading the S&P 500 higher over the last six months. Exxon is currently testing the top end of its recent sideways trading range, however, and a break above the $75 level could provide a nice spark for both XOM shares and the S&P as a whole.

If Exxon really gets going and forms a new uptrend, the major indices should have no problem closing out the year