Exxon Mobil Is Still Not a Buying Opportunity

Global oil company Exxon Mobil (XOM) gapped lower Friday as crude oil futures sank around 6%. Not pretty but the rising 200-day moving average line is not far below the market. Is this a buying opportunity or a sign that “everything is up for sale”?

 

Let’s check.

 

In this daily bar chart of XOM, below, we can see that the price of XOM has largely moved sideways the past four months. The longer-term trend is up as XOM is still above the rising 200-day moving…

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