Friday, November 19, 2010

Where is ExxonMobil Headed From Here?

With the recent beating crude oil bulls have taken is it time to bail on industry leader ExxonMobil (XOM)? A quick look at our "Smart Scan Chart Analysis" technology confirms that a short term counter trend move is underway.

When this action is over look for the longer term positive trend to resume. Be sure to trade this uptrend with tight money management stops.

Based on a pre-defined weighted trend formula for chart analysis, XOM scored +85 on a scale from -100 (strong downtrend) to +100 (strong uptrend):

+10......Last Hour Close Above 5 Hour Moving Avg
-15......New 3 Day Low on Tuesday
+20......Last Price Above 20 Day Moving Average
+25......New 3 Week High, Week Ending Nov. 13th
+30......New 3 Month High in November
+85......Total Score

Here is a preview of our MarketClub Trade Triangle Chart Analysis and Smart Scan technology


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