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Exxon Mobil (XOM) Approaches New Downside Target of $90.90

Published on Wed, 01/30/2013 - 10:38
By Mallory Stone

Exxon Mobil (NYSE:XOM) has opened bearishly below the pivot of $91.63 today and has reached the first level of support at $91.33. Analysts will be watching for a cross of the next downside pivot targets of $90.90 and $90.17.

Exxon Mobil Corporation operates petroleum and petrochemicals businesses on a worldwide basis. 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.

In the past 52 weeks, Exxon Mobil share prices have been bracketed by a low of $77.13 and a high of $93.67 and are now at $90.94, 18% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.3%.

Exxon Mobil (NYSE:XOM) has potential upside of 4.6% based on a current price of $90.94 and analysts' consensus price target of $95.17. The stock should discover initial support at its 50-day moving average (MA) of $88.60 and subsequent support at its 200-day MA of $87.12.

By Mallory Stone