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Exxon Mobil Corp Looks to Continue to Trade Below its Annual-Low Share Price Today

By Nick Russo

Shares of Exxon Mobil Corp (NYSE:XOM) traded at a new 52-week low today of $31.20. This new low was reached on below average trading volume as 2.7 million shares traded hands, while the average 30-day volume is approximately 35.7 million shares.

Exxon Mobil Corporation operates petroleum and petrochemicals businesses on a worldwide basis. The Company operations include exploration and production of oil and gas, electric power generation, and coal and minerals operations. Exxon Mobil also manufactures and markets fuels, lubricants, and chemicals.

There is potential upside of 174.6% for shares of Exxon Mobil Corp based on a current price of $31.46 and an average consensus analyst price target of $86.38. The stock should run into initial resistance at its 50-day moving average (MA) of $56.33 and subsequent resistance at its 200-day MA of $67.54.

Over the past year, Exxon Mobil Corphas traded in a range of $31.20 to $83.49 and are now at $31.46. In the last five trading sessions, the 50-day moving average (MA) has fallen 6% while the 200-day MA has slid 1.4%.

SmarTrend recommended that its subscribers protect gains by selling shares of Exxon Mobil Corp on January 21st, 2020 by issuing a Downtrend alert when the shares were trading at $67.97. Since that call, shares of Exxon Mobil Corp have fallen 51.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows exxon mobil corp

Ticker(s): XOM