workingtraders
Long

Long idea for Exxon Mobil ($XOM)

NYSE:XOM   EXXON MOBIL CORP
652 5 3
Finally the risk to reward is in our favor. I will look into buying between 86.50 - 84.50. Placing my stop under 84.
We have several technical indicators in our favor to expect a bullish bounce from Exxon .

1) Stochastic Oscillator is showing the stock is oversold. The green arrows on the chart show historical periods of oversold status for Exxon Mobil             . If history repeats we should see a powerful correction. Stochastic Oscillator has already started curling up.

2) We have Major support lining up with a key Fibonacci Zone.

3) A Bullish Harmonic Pattern has emerged

4) Will look for the MACD to start curling up as we reach our Buy Zone(Major Support)
set to buy at 86 a few shares, lets see if it hits it
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is your goal 92 - 94?
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yes :)
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taking 1/3 profit here 88.65 and moving stop to 86.29.
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started a long position at 87.01
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