Exxon Is in a Well Defined Range

New York, December 21st (TradersHuddle.com) - Exxon Mobil Corp. (NYSE:XOM) closed the trading day at $88.89, near its 50 day and 200 day moving averages set at $89.26 and $86.69 respectively. Exxon's price action placed the stock above the 200 day moving average but below its 50 day moving average, a setup that signals a possible break out.

Exxon Mobil Corporation (NYSE:XOM) operates petroleum and petrochemicals businesses globally. The Company's 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. The biggest U.S. energy producer was founded in 1870 and is based in Irving, TX.

Exxon seems to be setting up for a tight range between the 200 day moving average as support and the 50 day moving average serving as resistance.

A tiered approach, appears to be the best strategy to maximize possible movements in the stock, as traders could establish a small position in Exxon and wait for the stock to break out above its 50 day moving average at $89.26. Then they could add to the position as momentum builds with the breakout. On the flip side, if support being referenced at the 200 day moving average set at $86.69 breaks, it could signal further downside pressure for Exxon.

Note - Automated Content Created By TradersHuddle's Technical Scanner

Related Partner Headlines

    Real Money Pro from TheStreet: Headlined by legendary hedge fund manager Doug Kass, our team of market technicians and professional traders hand you unique perspectives and breakthrough investment opportunities. Access this exciting service -- Real Money Pro -- FREE, right now!

    TradersHuddle Search

    Stock Search:

    Site Search:


    Technical Scans

    Recent Trading Ideas

    Latest Partner Headlines

    Stock Market

    o Dow Jones 17,665.23 ▼85.68 (-0.48%)
    o S&P 500 2,053.48 ▼9.89 (-0.48%)
    o NASDAQ 4,739.70 ▼23.52 (-0.49%)

    Dow Jones

    Company ID [INDEXDJX:.DJI] Last trade:17,665.23 Trade time:9:35AM EDT Value change:▼85.68 (-0.48%)

    S&P 500

    Company ID [INDEXSP:.INX] Last trade:2,053.48 Trade time:9:35AM EDT Value change:▼9.89 (-0.48%)


    Company ID [INDEXNASDAQ:.IXIC] Last trade:4,739.70 Trade time:9:35AM EDT Value change:▼23.52 (-0.49%)

    In The Wires

    Copyright © 2013 TradersHuddle.com. All Rights Reserved.