📅 June 23, 2025
📍 New York | By Stock Market Rulers
Shares of XOM (Exxon Mobil Corporation) saw a significant sell-off on Monday, plunging 5.55% to close at $99.93, down $5.87 for the day. This steep drop in XOM stock comes after a strong recent rally and marks a potential reversal in short-term momentum.
🔍 XOM Stock Technical Analysis:
- Price Movement: XOM opened at $103.71 and hit a low of $97.80 before settling near the $100 mark. The sell-off pulled prices sharply back within the Bollinger Bands, suggesting a cool-off from recent highs near $116.57.
- Bollinger Bands Indicator: XOM had been trading above its upper Bollinger Band—often a sign of an overbought condition. Monday’s breakdown indicates a potential mean reversion, which could lead to consolidation or further downside.
- RSI (Relative Strength Index): The 14-day RSI for XOM now stands at 70.87, down from overbought territory. A falling RSI points to weakening bullish strength and a possible trend shift in the short term.
- Volume Spike: Volume surged to 34 million shares, far above the daily average, confirming strong selling pressure in XOM stock. Such high volume during a price decline can signal institutional exits or broader market caution.
- Support & Resistance: Immediate support is around $97.50, while major resistance stands at $116.57, the recent high.
📈 Should You Buy XOM Now?
While XOM stock has been a top performer in recent weeks, the latest technical breakdown signals that investors should proceed with caution. Short-term traders may look for further downside, while long-term investors may wait for consolidation near key support levels before re-entering.
📌 For more XOM stock updates and market news, visit: www.stockmarketrulers.com
