• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Exxon Mobil Corp (NYSE:XOM)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Exxon Mobil Corp (NYSE:XOM) based on the price action in the company's shares. Yesterday's price range of $41.47 and $42.44 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Exxon Mobil Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Potential upside of 97.0% exists for Exxon Mobil Corp, based on a current level of $43.85 and analysts' average consensus price target of $86.38. The stock should find initial resistance at its 50-day moving average (MA) of $48.65 and further resistance at its 200-day MA of $65.13.

In the past 52 weeks, Exxon Mobil Corp share prices have been bracketed by a low of $30.11 and a high of $83.49 and closed yesterday at $43.85, 46% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has declined 2.8%.

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.

SmarTrend is monitoring the recent change of momentum in Exxon Mobil Corp. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Exxon Mobil Corp in search of a potential trend change.

Keywords: bearish am inside day candle exxon mobil corp

Ticker(s): XOM