Oil plays are set up right now. Beautiful cup and handles. Bounces off the trendline and just launched off the 20 SMA. Lot's of resistance ahead, watch for a volume spike to get through. Give it some time. (3 months). Oil go Xoom.
Got in November. Waiting for a move while collecting a dividend of about 10.5% is awesome. My only regret is I wish I bought more in November. I knew the visus would eventually go away and the world would come back to their senses. Unemplyment and hunger gets old fast. Electric cars used a tun of oil to produce, (we with a brain knew this). The world runs on oil and coal, and this will not change just because of a few WOKE countries. The jet planes will fly, rockets to the moon, and mars, and satalite deploment is on the rise. Common sense and picking stocks, happy together. Nice analysis!
Tradersweekly
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@Acient1, I think most of us wish we bought more, hehe. Good luck with your trades.
barrycharts
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@Acient1, Thanks! I appreciate your input as well. Yeah the dividend is great and oil isn't going away anytime soon, if ever. I too wish I had bought more and also had not let my covered calls get exercised lol. XOM to the moon.
rebelvolt
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@Acient1, I really like your style. Agree with you 100%. And ur such a dick, it's wonderful! Don't worry, you are not alone.
Tradersweekly
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I think so too. Oil is climbing up and XOM will follow. Good job!
Been in since December. We are just waiting for earnings reports. End of June/Early July it will take off 65-70ish then probably another 3 months of Nada. Q3 Hello $80. Absolutely perfect storm for oil. It is going to be a fantastic year. OPEC/Russia not letting up, American Shale not even interested. The fact that literally no oil producer in the world can afford a price war at the moment. The dollar likely to drop. Demand returning (70-80% TSA Passenger throughput). Looks like we will be sitting in XOM until well into next year, possibly even 2023. Have to wait and see. Enjoy your free money friends. Dividends while we wait.
Tradersweekly
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@rebelvolt, Yeah demand and rig count is slowly rising which support bullish thesis. I am not sure whether we get to 80 USD per barrel this year but eventually we will I think. And XOM will follow.
barrycharts
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@rebelvolt, Haha yeah the dividend is a nice lil boost. I appreciate your input! XOM gang.