XOM runs into sellers again around 83.15
Exxon Mobil Corp. (XOM) Technical Analysis Report for Sep 14, 2018
XOM ended the week 1.33% higher at 82.92 after gaining $0.60 (0.73%) today. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range.
Friday's trading range was $0.88 (1.07%), that's slightly below last trading month's daily average range of $1.01. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.
During the whole day, prices traded within the prior day's range, unable to trade above the previous day's high or below the prior day's low forming an Inside Bar.
Breaking through the key resistance level at 82.62 today, it is now likely to act as support going forward. Prices are trading close to the key resistance level at 83.75. After having been unable to move above 83.25 in the previous session, the share ran into sellers again around the same price level today, failing to move higher than 83.15.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Buying might speed up should prices move above the close-by swing high at 83.78 where further buy stops could get activated. Selling might accelerate should prices move below the nearby swing low at 82.01 where further sell stops could get triggered. Trading close to July's high at 84.40 we might see further upside momentum if potential buy stops at the level get activated.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.
Market Conditions for Exxon Mobil Corp.
Top Market Movers