Stock of the day: Exxon Mobil

Last week, oil prices dropped significantly, but surprisingly, this did not have a negative impact on Exxon Mobil, which is our hero for today. Generally, energy companies tend to follow the price of oil, but this time it was different. As you can see from the chart, the OPEC+ decision from the beginning of April resulted in a bullish gap on both instruments. After that, we had a sideways trend, and the last week ended with a significant slide on oil, almost closing the bullish gap. However, this slide did not affect Exxon, which remained strong, trading inside a rectangle.