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Strategies & Market Trends : Underexposed Technical Analysis
AQN 5.795+0.4%9:49 AM EST
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To: Underexposed who wrote (395)8/12/2019 5:40:28 PM
From: Underexposed1 Recommendation

Recommended By
Blasher

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Update on XOM after almost a week.


Hi Bob, I thought I would update the charts on XOM and comment on them


Well things are really going bearish for the stock potentially now. I have coloured that inside band orange because in fact that band has been breached. the blue circle shows today's closing price at $69.61. So technically it is a breach but it could pull back tomorrow... the share price would have to drop below $69 before another zero is added.

The column SMAs are showing increased bearishness as the blue line diverges more.



Well... that pinch looked like it was completing a few days ago.... but it did not happen. The MACD has resumed its decline and the BBWidth has resumed its climb...

The Slo sto tried to get above 20 but failed and is in a slight decline again.

The share price made a normal attempt to reach for the 20day SMA... but that has failed.

All this indicates the previous few days were just a rest... we are back on the bearish track again



There is NOTHING bullish in this chart...The share price did not reach the Par Sar, the Force (30) is in decline as well as the RSI (30).... the DI +/- is diverging Bearishly

Conclusion

I think you are going to get your wish for a fall to $64 (the next support). Whether the fall will end there cannot be determined at this time... We shall just have to wait and see.

UE
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