Big Energy Feels The Heat

Many of the major and leading energy stocks are declining sharply lower this morning. Exxon Mobil Corp. (NYSE:XOM) is the largest integrated energy stock in the stock market with a market capitalization of $426 billion. This leading energy stock is declining lower by 0.72 cents to $84.00 a share. Exxon Mobil stock will have intra-day support around the $83.75 level and more around the $83.50 area.

ConocoPhillips (NYSE:COP) is another leading integrated energy stock that is declining sharply this morning. This stock has actually been one of the stock market leaders making a new 52 week high yesterday at $81.00 a share. Today COP stock is declining by $1.49 to $77.70 a share. The stock should have intra-day support around the $77.00 level and more around the $76.50 level.

Suncor Energy Inc. (NYSE:SU) has also been a market leader as of late making a new 52 week high yesterday at $48.53 a share. This leading energy stock is declining lower today by $1.37 to $45.54 a share. Traders can watch for intra-day support around the $45.00 level and more around the $44.60 area. All support levels could see small bounces on an intra-day basis.

About Nicholas Santiago 576 Articles

Affiliation: InTheMoneyStocks.com

Nicholas Santiago started trading in 1991. In 1997, he became a licensed Series 7 and 63 registered representative. He managed money for a large, affluent private client group. After applying his knowledge to his client base, he decided it was time to begin teaching those interested in learning his methods. He is an expert in Technical Analysis. He has become an accomplished technician in the studies of Elliot Wave, Gann Theory, Dow Theory and Cycle Theory. In 2007, he partnered with Gareth Soloway to form InTheMoneyStocks.Com and realize his dream of educating others about the truth of the markets.

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