Exxon Mobil Bearish Moving Average Crossover Alert (XOM)
Today, shares of Exxon Mobil (NYSE: XOM) have crossed bearishly below their 10-day moving average of $66.88 on volume of 23 million shares.
This may provide swing traders with an opportunity for a short position as such a crossover often suggests lower prices in the near term. Watch for a close below this moving average level for confirmation.
SmarTrend issued a Downtrend Alert for Exxon Mobil on December 08, 2009 at $72.95. In approximately 3 months, Exxon Mobil has returned 8.5% as of today's recent price of $66.74.
We will continue to monitor XOM's share price relative to this moving average.
Write to Chip Brian at cbrian@tradethetrend.com
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