Exxon Mobil Mutiple Basing Patterns

By | November 24, 2014

Shares of Exxon Mobil (XOM) have formed multiple basing patterns on the daily chart over the last two months, but have been unable to sustain a breakout move. This month they have been trading in a range between the 50 and 200 day moving averages, forming the handle of a large cup and handle formation, with rim line resistance in the $97.00 area.

24. XOM chart

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