XOM Breaks Down and JCOM Breaks Out

By | June 29, 2014

Exxon Mobil (XOM) has broken below an uptrend line drawn off the lows going back to February of this year and closed below its 50 day moving average. Note the bearish divergence in the MacD and the moves lower in the RSI and the Money Flow Index.

29. RVT EXXON Charts

Shares of J2 Global Communications (JCOM) rallied 1.6% on Friday, decisively breaking above neckline resistance on the daily chart.

29. RVT Jcom daily chRTS Charts

The move confirms the symmetrical triangle breakout on the weekly chart.

29. RVT JCOM Weekly  Charts

These were two of the chart setups I highlighted on Bob Lang’s webinar at Explosiveoptions.net.

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