XOM new all time highs or just a repeat of 2014 price action?
History is repeating itself like it did in 2014. We are guaranteed of $105 price action because of Biden embargo on Russian oil like in 2014, but now my question is, do we supersede this $105 all time high because of running inflation and War/Embargo? The trifecta can potentially can push AMERICAN oil companies to new ATH's making 2014 not look as bad as it once was.
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Looking to sell some of my XOM options lotto bags tomorrow at around $93-$96 a share. At best we get super spike from Oil tomorrow and XOM jumps 10-15% after the news from Biden.
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Expecting another hit on XOM on 1st week of the trading day prob going to retest $83 support line again. Would be a good re buy position to get into.
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XOM will eventually hit $105 target if Brent crude oil stays at $100-$110 like it did in its peak in 2014. We also have news that Biden is depleting through Oil reserves and we are going to be really behind on oil shipments from Russia, and now from Saudi Arabi, UAE. This will hit us hard beginning of April. I firmly believe this month will be the last opportunity to buy in Oil before it blows up in the next coming months.
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Looks like XOM will be consolidating around $77-$85 Until the end of March. Would be a good entry point to buy in by end of March to secure 15-25% upside in the stock price before XOM starts getting priced in at around $100 early to mid April before Earning report!
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Expect a $90s XOM price by May 8th. I am still expecting a $100 XOM price target by May 22nd.
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Crude randomly dropped? Strange.. But in terms of TA it lost $85 support and $83 support so overall bearish.. Maybe it randomly pops up on Tuesday to make up for todays random losses? If not I am going to expect a $78 price if we keep coming down. From there I am strongly assuming a snap back and a continuation of XOM snapping up higher before earning to price target of $98-$100.
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From the past 2 earnings the stock has moved up at around 15% to 25% from each earnings. Since this earnings will include record profit similar to profits of 2014 I expect a bigger move at around 30% jump.
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EXPECT A MOVE HIGHER IN XOM NEXT WEEK!
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$87.55 RESISTANCE BROKE! LOOK FOR $91 TO 93 TOMORROW!
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XOM crashed today rallying to almost $90 today to almost being down to $87.30 in a DAY! We have been in the mid $80s for a MONTH now! And XOM is not being priced in for its upcoming earnings anymore like it did last earnings report. Only saving grace is if earnings come extremely better than expected and have us have a record breaking 20% swing after earnings. Overall XOM has not been doing anything lately and still remains flat prior to last earnings report despite having record sales this Quarter.