Is Momentum Changing for Exxon Mobil? Price Just Crossed Below Its 20 Day Moving Average

The Daily View for Exxon Mobil

  • Currently, XOM’s price is up $0.24 (0.43%) from the day prior.
  • It’s been a feast for bears operating on the daily timeframe, as Exxon Mobil has now gone down 4 of the past 5 days.
  • From a daily perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 day timeframes.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on Exxon Mobil. Given that we see an uptrend on the 20 and 10 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • 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.

Exxon Mobil’s hourly price chart is shown below.

XOM

The Daily View for Exxon Mobil

  • At the moment, XOM’s price is up $0.52 (0.93%) from the day prior.
  • It’s been a feast for bulls operating on the daily timeframe, as Exxon Mobil has now gone up 4 of the past 5 days.
  • As for the trend on the daily timeframe, we see the clearest trend on the 50 day timeframe.
  • Regarding moving averages, it should first be noted that price has crossed the 20 day moving average, resulting in them so that price is now turning above it. 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.

Below is a daily price chart of Exxon Mobil.

XOM

Featured Exxon Mobil Commentary From Twitter

BIG OIL EARNINGS: Very busy week with the 5 energy majors reporting 1Q earnings plus OPEC+ meeting:

📆Tue 27: BP
📆Wed 28: OPEC+
📆Thu 29: RDSB and TOT
📆Fri 30: XOM and CVX

And here our Big Oil earnings preview by @lc_hurst and @CrowleyKev | #OOTT https://t.co/TuUGVQTf6ANA

TheStalwart