AFTER EXXON MOBIL EARNINGS -MARKET LOOKING MIXED/BEARISH

Exxon Mobil shares fell after the oil major reported quarterly earnings that fell short of market’s expectations .Exxon Mobil earnings per share for the second quarter was 92 cents while its Revenue for the same period is $ 73.50 billion. Exxon Mobil stocks are currently trading at $81.33 fell about 3.5% from the previous trading session. Exxon Mobil constitutes 1.46 % of S&P500.S&P500 fell around 0.079% at the time of writing.

On the technical front, the RSI is currently at 46.06% and suggests that the market may head downwards. The %K has crossed the %D from above to the downside at 64.25% and suggests that market may move downwards. The MACD indicator has also generated an Initial Selling signal or reversal of trend, as the Fast line is below the slow line while both are above zero.

 

TRADE SUGGESTION-SELL AT 81.10 TAKE PROFIT AT 80.60  STOP LOSS AT 81.35

 

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