The logic is that price will gravitate to liquidity. Exxon Mobile seems to have an abnormal amount of liquidity sitting above all time highs. Gut says we take out those highs pretty soon.
Here are some other considerations:
-Exxon Mobil also currently has the highest percentage of short interest in modern history.
-The company has a low valuation of 11x earnings, pays a 3.66% dividend yield with over 40 years of consecutive annual dividend growth, and its balance sheet has a AA- credit rating.
-Exxon earns twice as much income and 7.5x as much revenue as Nvidia.
-Warren Buffett has been adding to their oil positions (Buffet Effect).