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ExxonMobil Corp. XOM may be pumping out oil, but its stock chart has hit a dry spell . What Happened : ExxonMobil stock is about to form a death cross — a bearish technical indicator where the 50-day moving average falls below the 200-day moving average. Chart created using Benzinga Pro A Slippery Slope For XOM Stock The numbers don't lie: Exxon's stock price of $106.49 is firmly below its 20-day ($111.37), 50-day ($116.32), and 200-day ($116.24) simple moving averages. The Moving Average Convergence Divergence (MACD) indicator at a negative 2.89 screams bearish, while a Relative Strength Index (RSI) of 23.54 suggests the stock is oversold. For optimists, the oversold RSI could hint at a potential rebound. But with the broader trend signaling bearish momentum, a quick turnaround might require more than geopolitical jitters or OPEC decisions. Europe: No Love Lost For Exxon Exxon's President for Europe, Philippe Ducom , didn't mince words when he labeled Europe's competitiveness as being "in a crisis." With decarbonization investments largely bypassing Europe in favor of U.S. projects, the company is focusing on regions with fewer regulatory hurdles. Despite investing $20 billion globally in clean energy initiatives by 2027, Exxon isn't planning a major European pivot. Instead, its future bets are in places like Texas, where clean hydrogen and lithium projects are underway. Exploring New Frontiers Exxon's exploration efforts continue in Guyana's Stabroek Block, with the Haimara-3 well appraising its 2019 gas discovery. While oil remains a priority, the company is increasingly evaluating the potential for standalone gas development in Guyana, potentially setting the stage for new revenue streams in 2025. Outlook: Drilling For Optimism? ExxonMobil's death cross doesn't mean it's game over, but the bearish signals are piling up. With regulatory challenges in Europe and volatile oil prices, XOM stock faces strong headwinds. Investors hoping for a bounce might want to watch geopolitical developments and the company's U.S. clean energy plays closely. Now Read: Warren Buffett Invested $4 Million In Disney Back In 1966, Says Exit ‘Was A Huge Mistake Image: Shutterstock © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.( ) is the amid the website builder's 81% share gain in 2024. Strong institutional support is a bullish sign for Wix stock as the online design firm pivots to artificial intelligence-based products. Wix operates a freemium software-as-a-service (SaaS) business model. While a free, ad-supported website builder is available, the company aims to convert users to a paid plan that offers more professional-looking custom features. In midday trades on the , Wix stock fell 2.4% to 218.54. Wix stock holds an of 229.79. From a technical view, Wix has forged a and is on track to be a 4-weeks tight. The three-weeks-tight pattern forms when a stock closes within 1.5% of the prior week's close for two straight weeks. In other words, it's two weeks of tight weekly closes after the first week — so all together it's three weeks that are tight. Also, volume usually will be quiet during this period as the stock consolidates after breaking out of its base. This signals institutional investors are comfortable with the stock's advance. New Stock Buyback In July, Wix's board approved a new $200 million stock repurchase program. Wix's cloud-based web development platform allows users to create and design websites with drag-and-drop tools, without needing to know how to code. An interactive chatbot and setup wizard guides users. Wix offers a wide array of templates for business types, plug-ins and marketing tools for website design. Wix is based in Tel Aviv, Israel. In the small business market, Wix's main rival has been ( ). Meanwhile, shares in Wix popped 26% after its third-quarter earnings report and outlook. Wix's September-quarter earnings rose 36% to $1.50 a share. Revenue climbed 13% to $444.7 million. "Wix's Q3 was strong with a strong beat and raise in terms of bookings and free cash flow," RBC Capital Markets analyst Brad Erickson said in a report. "Most favorably, the company's strong AI narrative continues to resonate and importantly, reconcile with the numbers where the price increase is going better-than-expected. The company is seeing strong sign-ups and better conversion driven by AI. It has more AI-based products on the way in 2025 for all parts of the subscription business and continues finding leverage as its customer economics improve within subscription services." For 2025, analysts estimate earnings per share of $7.24, up 20%. Revenue is expected to rise 15% to $2.02 billion. Wix Stock Technical Ratings "We believe the anticipated bookings acceleration to 18% exiting 2024 and the ensuing 2025 revenue acceleration should be well within reach on the back of Q3 results with strong momentum of Wix Studio adoption and AI product rollout," UBS analyst Chris Zhang said in a report. The company's Relative Strength Rating currently stands at 94 out of a best-possible 99, according to . The best stocks tend to have an RS Rating of 80 or better. Wix stock holds an of A. That institutional ownership rating analyzes price and volume changes in a stock over the past 13 weeks of trading. A+ signifies heavy institutional buying. Further, shares hold an IBD Composite Rating of 94 out of 99. The best growth stocks have a Composite Rating of 90 or better. IBD's Composite Rating is a blend of key fundamental and technical metrics to help investors gauge a stock's strengths.