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Exxon Mobil Corp (XOM) Crosses Pivot Point Resistance at $32.28

Mar 24, 2020 (SmarTrend(R) News Watch via COMTEX) --
Shares of Exxon Mobil Corp (NYSE:XOM) have bullishly opened above the pivot of $31.20 today and have reached the first resistance level of $32.28. Should the shares continue to rise, the resistance pivots of $33.79 and $36.38 will be of interest.

In the past 52 weeks, shares of Exxon Mobil Corp have traded between a low of $30.11 and a high of $83.49 and are now at $33.75, which is 12% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has declined 3.8%.

Potential upside of 155.9% exists for Exxon Mobil Corp, based on a current level of $33.75 and analysts' average consensus price target of $86.38. Exxon Mobil Corp shares should first meet resistance at the 50-day moving average (MA) of $55.56 and find additional resistance at the 200-day MA of $67.32.

SmarTrend recommended that its subscribers protect gains by selling shares of Exxon Mobil Corp on January 21st, 2020 by issuing a Downtrend alert when the shares were trading at $67.97. Since that call, shares of Exxon Mobil Corp have fallen 53.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Write to SmarTrend at cs@mysmartrend.com

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