Has Exxon Mobil Peaked?

Exxon Mobil (XOM), a large petrochemical company, has been on the upside as oil prices topped $50 per barrel. In February 2005 the price of XOM rose sharply and broke out of its two-year price channel.

Can the price of XOM continue to rise at these high levels? Probably not. Generally, when a stock breaks out of a price channel it eventually retreats back into the channel. After that prices can stay in the existing channel or form a new upside or downside channel.