The Greedy Trader Weekly Analysis
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Uptrend Exhaustion

Uptrend Exhaustion stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Stock market alert is a warning signal. Uptrend Exhaustion alert indicates that long term uptrend is exhausted and probability of long term trend reversal is high. Uptrend exhaustion stock market alert presents relatively low to medium risk - high reword stock pick for overvalued stocks.

The strategy is based on selling (or taking a short) position on anticipation of uptrend reversal.

Uptrend Exhaustion

Archive
- 3/15/2024 -
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Exxon Mobil Corp. (XOM) Technical Analysis

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Summary:
Weekly :Overbought sectorBroken trend support lineLane's Stochastic is overboughtWilliams' Percentage Range is strongly overboughtBroken trend resistance line
Daily :Broken uptrend resistance line - uptrend exhaustionWilliams' Percentage Range is overboughtLane's Stochastic is strongly overbought
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It was a fifth consecutive positive week for the Exxon Mobil Corp. (XOM). During the week, the XOM gained 2.89 points, or 2.67%, and closed at 111.27 on Friday, March 15, 2024. It was the best weekly gain since January 26, 2024. Weekly volume was 18% above average.

XOM is a member of Energy Sector. Energy is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See XOM long-term trend chart]
A long-term uptrend had started on March 23, 2020 at 30.11 and reached 120.70 on September 28, 2023. XOM gained -90.59 points, or -300.86%, in 183 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (116.70) is broken. A broken support is considered to be a long-term bearish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a long-term trend.

Medium-term trend: [See XOM medium-term trend chart]
A medium-term downtrend had started on September 28, 2023 at 120.70 and reached 95.77 on January 22, 2024. XOM lost 24.93 points, or 20.65%, in 16 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (93.27) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. XOM may retest the broken resistance line. It is considered to be a support line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.

Weekly Technical Indicators: [See XOM weekly technical indicators chart]
Weekly Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is above its signal line since February 16, 2024. Use the following link to access a MACD help.

Short-term trend: [See XOM short-term trend chart]
A short-term uptrend had started on February 14, 2024 at 100.42 and reached 112.30 on March 15, 2024. XOM gained -11.88 points, or -11.83%, in 30 days. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (105.65) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a short-term trend.

Daily Technical Indicators: [See XOM daily technical indicators chart]
Daily Williams' Percentage Range is overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range or strongly overbought daily Lane's Stochastic.

The daily MACD line is above its signal line since February 14, 2024. This is an indication that the short-term trend is up.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 78.72
Williams' Percentage Range (W%R) 15.00
Overbought
Lane's Stochastic (%D-Slow) 90.56
Strong Overbought
Greed/Fear Indicator (GFI) 84.75
Overbought
Moving Average Converg./Diverg. (MACD) 1.58
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 69.93
Williams' Percentage Range (W%R) 8.80
Strong Overbought
Lane's Stochastic (%D-Slow) 87.20
Overbought
Greed/Fear Indicator (GFI) 78.88
Moving Average Converg./Diverg. (MACD) -1.45
Trading Signals
Description Value Chart
Yearly Trendline Support 116.70
Upper Bollinger Band 111.80
Daily Stochastic Crossing 111.60
Price 111.27
Weekly Stochastic Crossing 110.88
Parabolic System 109.08
Weekly Trendline Resistance 108.12
Monthly Trendline Support 107.14
20 Day Moving Average 106.25
Weekly Trendline Support 105.65
Monthly Trendline Resistance 105.36
50 Day Moving Average 103.03
Lower Bollinger Band 101.61
Quarterly Trendline Support 93.27
Quarterly Trendline Resistance 92.77
Sector and Industry
Description Name Rank
Sector Energy 9
Industry Integrated Oil & Gas 79
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 104.03
Low Date 03/04/2024
High 112.30
High Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 108.12
Support 105.65
Low 100.42
Low Date 02/14/2024
High 112.30
High Date 03/15/2024
Description Value
Direction Up
Chart Pattern Ascending Triangle
Status Broken Resistance
Resistance 105.36
Support 107.14
Low 95.77
Low Date 01/22/2024
High 112.30
High Date 03/15/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 92.77
Support 93.27
High 120.70
High Date 09/28/2023
Low 95.77
Low Date 01/22/2024
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 141.64
Support 116.70
Low 30.11
Low Date 03/23/2020
High 120.70
High Date 09/28/2023
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.