Recently RSI and MACD turned back to bullish side. At the same time ADX shows signs of revival. In addition to that oil price keeps rising. We think that XOM will continue its rise above 1st resistance at 62.55 USD. XOM currently provides very interesting setup. Our short term price target for XOM is 62. 50 USD and our medium term price target is 65 USD.
Here is setup from 8th May 2021:
It is very similar to the current setup.
Disclaimer: This analysis is not intended to encourage buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
Here is setup from 8th May 2021:
Disclaimer: This analysis is not intended to encourage buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
Trade active:
Today WTI oil reached 70 USD per barrel and XOM reached 62.48 USD per share (shy 2 cents of our short term price target).
Trade closed: target reached:
Short term price target of 62.50 USD per share has been reached in pre-market trading.
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