Exxon Mobil's decline stalls in a tight trading range
Exxon Mobil gains 1.3% yet stays locked in a very tight range
Exxon Mobil's decline stalls in a tight trading range
Our view last week
Week 12 of the sell signal on Exxon Mobil, and the week closed essentially flat instead of extending the decline. Sell volume stays in the majority, but technical momentum has recovered ground versus a month ago. The stock remains squeezed between a nearby support and resistance, with earnings due in three-four weeks, on July 24.
This week's summary
Exxon Mobil's Sell signal is stuck in a very tight box, between the wall in the 139.3 area and the floor in the 138.3 area: after last week's flat close, this week the stock gained just 1.3% without breaking either side. Beneath the surface money flow keeps worsening, even as sellers carry a bit less weight in the tape. The trend is losing conviction, and in two weeks earnings could decide which way the range finally breaks.
IQS Phase
68
in tension
Signal Strength
2
decline losing steam
Sizing
MINIMUM
Ranking
#135 / 137
US stocks
Trade P&L %
+5.16%
from signal to today
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