Exxon stock price ended on $103.22 on Wednesday after gaining 0.84%
(Updated on Jan 03, 2024)
The Exxon stock price gained 0.84% on the last trading day (Wednesday, 3rd Jan 2024), rising from $102.36 to $103.22. During the last trading day the stock fluctuated 1.93% from a day low at $101.66 to a day high of $103.62. The price has risen in 6 of the last 10 days and is up by 1.54% over the past 2 weeks. Volume fell on the last day by -1 million shares and in total, 19 million shares were bought and sold for approximately $1.96 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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- Exxon stock price ended on $103.22 on Wednesday after gaining 0.84% (Updated on Jan 03, 2024)
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Ready to grow your portfolio? Here’s your free beginner’s guide to buying XOM stock.
The stock lies the upper part of a falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $103.94 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -9.60% during the next 3 months and, with a 90% probability hold a price between $86.39 and $93.97 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
XOM Signals & Forecast
Mostly positive signals in the chart today. The Exxon stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $101.64 and $102.05. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, December 12, 2023, and so far it has risen 5.27%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
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Support, Risk & Stop-loss for Exxon stock
Exxon finds support from accumulated volume at $102.99 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $1.96 between high and low, or 1.93%. For the last week the stock has had daily average volatility of 1.56%.
Our recommended stop-loss: $98.57 (-4.51%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 14 days ago.)
Trading Expectations (XOM) For The Upcoming Trading Day Of Thursday 4th
For the upcoming trading day on Thursday, 4th we expect Exxon Mobil Corporation to open at $102.83, and during the day (based on 14 day Average True Range), to move between $101.37 and $105.07, which gives a possible trading interval of +/-$1.85 (+/-1.79%) up or down from last closing price. If Exxon Mobil Corporation takes out the full calculated possible swing range there will be an estimated 3.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $102.99 (0.22%) than the resistance at $106.47 (3.15%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Insiders are neutral buying more shares than they are selling in Exxon
In the last 100 trades there were 3.08 million shares bought and 2.29 million shares sold. The last trade was made 3 days ago by Kellner Lawrence W who bough 2.5 thousand shares. The large amount of stocks bought compared to stocks sold indicate that the insiders believe there is a potential good upside. In some cases larger purchases can be explained by due date for stock options.
Is Exxon Mobil Corporation stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.