Stock Of The Day: Exxon Mobil Hits A Ceiling?
Portfolio Pulse from Mark Putrino
Exxon Mobil Corp (NYSE:XOM) is facing a resistance level at $119.75, where sell-offs have occurred since May. This resistance is due to a concentration of sell orders, causing the stock to reverse and head lower each time it reaches this level. The resistance may persist due to buyer's remorse, leading to potential future sell-offs.
August 27, 2024 | 5:04 pm
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Exxon Mobil is encountering a resistance level at $119.75, leading to repeated sell-offs since May. This resistance is likely to persist, potentially causing future price declines.
The article highlights a clear resistance level for Exxon Mobil at $119.75, where repeated sell-offs have occurred. This suggests a strong likelihood of future price declines if the stock reaches this level again, due to persistent sell orders and buyer's remorse.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100