XOM, Cup and Handle Break out ! Long above 92.05 !

XOM is beautifully formed a classic cup and handle pattern.

So far, we have break out , pull back and only remaining point to safe entry is a bullish candle above 92.05.

First target which was obtained by adding the depth of cup ( shown as H on the chart ) to the break out line is 104-105 USD.

Please note the crude oil trend is also up therefore , it is reasonable for energy stocks to go up.

In terms of Elliott waves, XOM may see much higher prices especially in long terms. I will publish my broader view for the stock later and propose my wave count and related long term targets ( s.th close to 200 USD !! ). For now, I just tried to keep it as simple as possible.

Wish you nice profits.

Comment:

Never passed buy point. We still keep it on watch.

Comment:

XOM is passing buy point : 92.08
stop loss is :83.38

Trade active

Comment:

First Target reached and wave relationships suggest it still goes higher.

Best regards great followers.

Comment:

We have new ATH in the stock.

Today XOM took out 8 years ATH.

Congrats my friends.