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shivam94_007
Oct 6, 2022 3:10 PM

Great opportunity to short XOM  Short

Exxon Mobil CorporationNYSE

Description

XOM is back to 100$, last time being there when crude was above 110$ a barrel. A great short covering, along with confluence of multiple trend lines makes this a great short opportunity.

Comment

Congrats. We are well in the money. My first target is 94$, second target is the green trend line around 87$. You are responsible for your own position risk management.

Trade active

I will be adding to the shorts at 115$ due to confluence of multiple resistances as shown below.

Comment

To show how big of a resistance the redline is, here is the monthly chart of XOM. Look at how vertical the move has been from 84$ to 110$ already. It's a no brainer IMO.

Comments
Wilson5s
oh man, i think short term up until earnings we get a blow off top to 110 unfortunately.
shivam94_007
@Wilson5s, let's see how it goes
shivam94_007
@Wilson5s, You were right. Congrats
Tradersweekly
Thanks for the idea.
rohainiaaniey
let's see...
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