Is Momentum Changing for Exxon Mobil? Price Just Crossed Below Its 100 Day Moving Average

The Hourly View for Exxon Mobil

  • Currently, XOM’s price is down $-0.1 (-0.11%) from the hour prior.
  • Exxon Mobil has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on Exxon Mobil. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Exxon Mobil’s hourly price chart is shown below.

XOM

The Daily View for Exxon Mobil

  • Currently, XOM’s price is up $2.01 (2.31%) from the day prior.
  • Exxon Mobil has seen its price go down 4 out of the past 5 days, thus creating some compelling opportunities for bears.
  • If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 day timeframes.
  • Most noteworthy in the world of moving averages on the daily chart is that the 100 and 20 day moving averages have been crossed, with price now being above them. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
  • Divergence between XOM’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in XOM’s price.

Below is a daily price chart of Exxon Mobil.

XOM

Featured Exxon Mobil Idea From TradingView

Below is a trading comment entitled Exxon Mobil Could Be Stalling you may find interesting:

Energy stocks have dominated the market this year, but now the biggest of the bunch is showing signs of weakness: Exxon Mobil.The first pattern on today’s chart is the jump following strong quarterly results on July 29. While that may have been impressive, it soon faded – a potential sign of marginal selling. Next, the peak was below the $97.77 level where XOM gapped lower on June 13. The result was a lower high versus June 8’s all-time high. Again, not a great sign for people expecting bullish follow-through.Yesterday’s drop also planted the stock back below its 50-day simple moving average (SMA). Interestingly, that SMA provided support in March, April and May. (See the white arrows.)Finally, stochastics are slipping from an overbought condition. TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more. Important Information TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wh…

TradeStation