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Exxon -- Still Room to Run?

Started by pkamm, 10/08/2004 09:12PM
Posted 10/08/2004 09:12PM Opening Post
Trying to evaluate overbought/oversold conditions of oil stocks. This is a 35-year chart of Exxon, and for all the run-up in oil stock the last year or so, while they may appear short-term overbought interestingly enough in the long term they are just now finally reverting to the mean trendline. Many of the blue-chip oil stocks are fairly similar. Exxon is just below the mean, Conoco-Phillips is just above its, and Chevron-Texaco is right about on its mean trendline.

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