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Dow Jones Stocks That Are In Trouble: Exxon Mobil (XOM)

Dow Jones Stocks That Are In Trouble: Exxon Mobil (XOM)

Exxon Mobil Corporation (NYSE:XOM) shares finally appear to be breaking down below an epic year-to-date consolidation range with critical support near the $79-per-share level. A breakdown here sets up a reversal of the entire rebound out of the 2015/2016 low. The downtrend in XOM is motivated by new pressure against crude oil as OPEC compliance in its supply freeze agreement breaks down.

Exxon Mobil will next report results on Oct. 27. Analysts are looking for earnings of 83 cents per share on revenues of $63.6 billion. When XOM last reported on July 28, earnings of 78 cents per share came in 8 cents below estimates despite a 9% jump in revenue.

Anthony Mirhaydari is founder of the Edge (ETFs) and Edge Pro (Options) investment advisory newsletters. Free two- and four-week trial offers have been extended to InvestorPlace readers.

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