Exxon MobilFirst up is integrated oil and gas supermajor Exxon Mobil ( XOM). Exxon has been swinging in a wide range this year, dragged behind the ebb and flow of oil prices. While that's resulted in underperformance vs. the S&P 500 so far this year, the setup in this stock is signaling higher prices for shareholders in the coming weeks. >>4 Stocks Poised to Pop on Earnings That's because Exxon is currently forming an ascending triangle pattern, a bullish setup that's formed by a horizontal resistance level above shares and an uptrending support level below them. Essentially, as shares bounce in between those two technical price levels, they're getting squeezed closer and closer to a breakout above resistance (in XOM's case at $92.50). When that happens, traders have a buy signal. Exxon's setup is very short-term, but it's got some extra evidence pointing to upside from the pattern. Momentum, measured by 14-day RSI, is still in an uptrend, a good sign since momentum is a leading indicator of price. Trading volume points to upside too in Exxon - volume has been declining over the course of the pattern (which is the textbook volume behavior for an ascending triangle). Ideally, we'll want to see a volume spike when shares move above $92.50; that indicates that buyers are participating in the breakout. I'd recommend sitting on the sidelines until that happens.