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Technical Analysis Alert for Exxon Mobil Corp. (XOM)
NEW YORK (Market Intellisearch) -- Today the stock price of Exxon Mobil Corp. crossed below
the much followed 50-day moving average. The moving average crossover was accompanied by
lighter than normal volume of 29,354,058 shares. Exxon Mobil Corp. settled the day
down $0.66(-1.09%) to $59.68. Today's trading range is between $59.60 and $60.51 respectively.
Traders and investors who follow the application of technical analysis will find that today's closing
price of $59.68 relative to the stock's moving average of $59.93 may signal a bearish trend.
Other relevant figures to examine are the support and resistance levels. Based on the pivot points, the current support
and resistance levels for XOM are 59.35 and 60.26 respectively. If the support point price is broken in an downward movement, then the bearish trend is likely to continue and vice versa.
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