XOM daily - bullish after break out of ascending triangle
XOM is a bullish/strong fundamental stock therefore would be traded only on the long side.
XOM is inside ascending triangle which is a bullish pattern. There is strong resistance at 114$, With the breaking of that price we would break out from the pattern, and also we would break the last high which would be very bullish.
XOM is above all major MA which is bullish.
Volume is neutral.
RSI is neutral but has small bearish divergences.
MACD is neutral.
Overall: XOM is close to breakout from ascending triangle which would be bullish with a target 120-123 area. If its breakout above the blue dotted line it will trigger a buy signal.
However be aware of earnings which will be on 31 Jan, so do not trade over that report, please :).
Long trade would be triggered if a breakout of a blue dotted line.
XOM is inside ascending triangle which is a bullish pattern. There is strong resistance at 114$, With the breaking of that price we would break out from the pattern, and also we would break the last high which would be very bullish.
XOM is above all major MA which is bullish.
Volume is neutral.
RSI is neutral but has small bearish divergences.
MACD is neutral.
Overall: XOM is close to breakout from ascending triangle which would be bullish with a target 120-123 area. If its breakout above the blue dotted line it will trigger a buy signal.
However be aware of earnings which will be on 31 Jan, so do not trade over that report, please :).
Long trade would be triggered if a breakout of a blue dotted line.
Comment:
Long from 114.53
Trade closed: stop reached:
115.97 stop loss triggered due to the financial report in two days. It didn't play as expected but still small income trade.
Income trade of 1.3%
Income trade of 1.3%
Consistency is the key of success....