Exxon Mobil Hasn’t Done This All YearExxon Mobil has been drifting since the late spring along with other energy stocks. But now it’s trying to do something it hasn’t done all year.
The main pattern on today’s chart is the 200-day simple moving average (SMA), one of the most basic measures of long-term support. XOM tested that level yesterday for the first time since December, which could draw some investors from the sidelines.
Second is the trendline running along the lows of February and July.
Next, stochastics are turning up after dipping to an oversold condition.
Finally you have the recent price gap between $90.52 and $87.50. Will traders look for XOM to fill that void?
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