Annual Trading Forecast on Exxon Mobil (2015)

PUBLISHED: 01 Apr 2015 @ 08:51 | Comments (0) | More info about Azeez Mustapha

Exxon Mobil stock (NYSE:XOM) is very weak right now. The stock trended downwards towards the end of last year (2014), and it went further downwards this year. Things have been bearish so far.

In the chart, 4 EMAs are used and they are EMAs 10, 20, 50 and 200. The color that stands for each EMA is shown on the top left part of the chart. As it can be seen, all the EMAs are sloping downwards, signifying a serious weakness in the market. The weakness is supposed to continue as new sellers join the market, going short anytime the price tests the EMA 20 or 50.

The bull often tries to push up the price in the market, but this is countered by the bear, and therefore, any rally in this market is an opportunity to sell (unless there is a Golden Cross, which is a situation in which the price crosses the EMA 200 above and closes above it). The bull has proven to be ineffectual in this market. A creature calls itself a hawk, but it is unable to carry a mouse or a lizard.

The accumulation territories at 60.00 and 50.00 may be tried this year.

This forecast is ended by the quote below:

“Trading and investing are games of possibility. We know from quantum physics that the universe is a place of infinite possibility. Isn’t it time that you found your own individual self and expressed that in your trading and investing?”– Mercedes Oestermann van Essen

Learn from the Generals of the Markets: Market Generals

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

Follow @ItuGlobal

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.