XOM dropped with heavy selling well below previous uptrend channel, but that petered off shortly after earnings were reported. This indicates to me that the market has priced in the disappointment and selling interest has dropped off, with a lot of profit taking happening on the green bar just before earnings.
I purchased just as it started the reversal with my stop right below the support at $85. Aiming to take profit once it tests the $95 resistance.
I purchased just as it started the reversal with my stop right below the support at $85. Aiming to take profit once it tests the $95 resistance.
Trade closed: stop reached:
Took too big of a loss, closed this out.