This Former Market Leader Is Lacking Upside Energy

Is it time for it to test its recent lows? September 01, 2020 UNSUBSCRIBE |ARCHIVE No more banks. No more accountants. No more Wall Street? This new type of Internet could change everything in the coming years… But your chance to profit from it could start in the coming days! Click here for full details. This Former Market Leader Is Lacking Upside Energy Dear Chart of the Day Reader, Yesterday, we analyzed TWOU and determined it could be ready to start moving higher again. For today’s chart, let’s take a look at Exxon Mobil Corp. (XOM). XOM is a multinational oil and gas company headquartered in Texas. Yesterday was a historic day for XOM. It marked the first time since 1928 that the company has not been part of the Dow Jones Industrial Average (in one form or another). XOM’s streak was the longest in the history of that index. Currently, Exxon is not looking healthy from a bullish point of view, and could be headed for lower prices. Let’s take a look at the daily price chart below: XOM bounced off its 15-year lows back in March, but couldn’t keep the momentum going on the upside. The stall out and subsequent grind lower suggests further downside is probable for this one. We’ll be looking for a sell signal on XOM, and likely soon. Now, I know shorting stocks can be intimidating, especially in a raging bull market. But here’s the thing: Even in strong markets, some stocks are still set up to move lower. Buying put options is an alternative to short selling shares outright. With put options, your risk is defined, and you can position yourself to capitalize on downside moves. You can find out all about buying options in Chuck Hughes’s Thunderbirds Options video course. Click here for the details. See ya tomorrow! Trade Smart, Michael Saul Analyst, Chart of the Day "An Open Letter to the White House…" Hi, I’m George Gilder. I’ve written speeches for Nixon. I’ve met privately with Ronald Reagan. Now I intend to meet with President Donald Trump. And I’m pretty sure he’ll see me. You can find out why at this link — it shows you my letter plus much more. P.S. It’s got nothing to do with politics. It’s not about taxes or trade wars. It’s about a discovery that could silence Trump’s haters… preserve his legacy… and help millions of Americans to get very, very rich. For details, follow this link… If you are having trouble receiving your Chart of the Day subscription, you can ensure its arrival in your mailbox by whitelisting Chart of the Day. © 2020 by Chart of the Day. All rights reserved. This newsletter may only be used pursuant to the subscription agreement, and any reproduction, copying or redistribution (electronic or otherwise, including on the World Wide Web), in whole or in part, is strictly prohibited without the express written permission of Laissez Faire Books LLC, 808 Saint Paul Street, Baltimore, MD 21202-2406. To end your Chart of the Day e-mail subscription and associated external offers sent from Chart of the Day, click here to unsubscribe. This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. If legal advice or any type of assistance is needed, please seek the services of a competent professional. This material, produced by Chart of the Day, is for informational purposes only. All technical information, instruction, and advice, reflect the beliefs of Chart of the Day and are intended as informational only. Chart of the Day is committed to protecting and respecting your privacy. We do not rent or share your email address. By submitting your email address, you consent to Laissez Faire delivering daily email issues and advertisements. Please read our Privacy Statement. EMAIL REFERENCE ID: 401CODED01