HOUSTON – Shares of energy giant Exxon Mobil Corp (NYSE: XOM) finished the trading week on a sour note, closing in negative territory on Thursday and signaling potential challenges ahead as investors look toward Monday’s market session.
Exxon Mobil closed the day at
0.61, representing a loss of 0.55%. The negative close reflected a day where sellers maintained the upper hand, pushing the stock below its previous closing price of $109.99.
The day’s trading pattern tells a story of persistent weakness. After opening at
108.37** around midday. While buyers did step in to mount a recovery in the afternoon, the rally lacked conviction and ultimately failed to reclaim the opening price or breach the day’s high of $110.10.
Compounding the weak sentiment, after-hours trading saw the stock drift even lower to $109.21, a further decline of 0.16%.
Looking Ahead to Monday:
The technical signals from Thursday’s chart suggest a bearish tilt for the start of the new week.
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The Bearish Case: The stock failed to hold its ground and closed with a loss. The inability to rally back to the previous day’s close is a significant sign of weakness. Furthermore, the continued slide in the after-hours session indicates that the negative sentiment carried over after the official close, suggesting momentum is currently to the downside.
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A Glimmer of Hope: The one positive for bulls is that the stock did find support at the $108.37 level and bounced from its intraday low. This indicates some buyers are present at lower prices, but they were not strong enough to turn the tide on Thursday.
The Verdict for Monday:
Based on the technical evidence from the provided chart, the outlook for Exxon Mobil on Monday is bearish. The stock is “limping” into the weekend rather than rallying. The combination of a lower close and a continued decline in after-hours trading suggests that the path of least resistance is likely downwards. Investors should watch to see if the stock can hold above its recent low of $108.37 at the open; a break below that level could signal further selling pressure.
