XOM

Exxon Mobil (XOM) was upgraded today after earnings yesterday that announced a 23% haircut in profits from the previous year (a mere $6-billion dollar profit). So, is it coincidence that they are today upgraded (currently the stock price isn't behaving like it has had good news), or could the timing get any better in order to help institutions lighten up their holdings in this issue now while they still can?
Here's a chart going back to 1968 that speaks volumes in terms of being close to an inflection point:
and zoom in a little closerPerhaps it could bounce from here after hitting lows last week not seen since March '08. However, this stock has been under the thumb of the 200-MA for nearly two years now, and while bounces out of the $64-range have been common, they're not drawing as much buying as they once did. It will be interesting to watch what develops.