This is my EOY estimate for XOM as it follows a strong retracement along the fibonacci measurements. Look for a new high for XOM by the end of the year.
Seems to me, at this time, pretty much any larger holdings in the S&P are safe to buy an in the money or out of the money put contract(s). We are seeing a controlled correction instead of a complete dump. I am no financial advisor or analyst. XOM is one of my favorites to either support, or short. I am seeing a rather large cup and handle formation brewing here...
On the weekly chart, Exxon Mobile drew a double bottom. In fact, there has already been a takeout and now the price is fixed about the "middle" of W.
The simplest idea is to reach a local maximum of 64.7 (15.6%). The
next goal is 86 (53%).
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TARGETS OR ENTRY PRICES ARE STRONG SUPPORT AND RESISTANCE LEVELS.
ENTRY PRICE BLACK COLOR
TARGETS GREEN COLOR
STOP LOSS RED COLOR
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Need a close above $56.22 pictured volume POC and previous support, now resistance. Sitting at volume shelf.
Trimmed 10/15 $55 calls for profit. Holding remaining +44% . Anticipating a move back to the middle of channel or a retest of AVWAP.
Respect the stop loss don't let a green trade turn to red :)
urning oil creates carbon and contributes to global warming. That is a fact that cannot be ignored, and one of the main reasons why the world seeks to limit its use in the future. As a result, clean energy is becoming a major resource for the world's energy supply. But it has not yet reached that level, which means that oil is still an important part of the global...
The picture is not 100% clear, but we are query if this might be it for XOM. It is possible at this stage to have a relatively shallow pullback, to only start rising again. At this stage, it is looking quite likely that we might be meandering locally for a period of time. Markets cannot be timed.
Remember that this is not financial advice and that we are not...
While the Energy sector as a whole is trending up with the rise in crude oil and the demand for it. However, until now, Exxon Mobile was under a lot of scrutiny for not embracing ESG protocols, which led to their attack from "Social-Good" Activists. This, in-turn, led to the conversion of the leadership strategy, which now prioritizes removing their carbon...
Good morning traders, today we bring you a bullish scenario that we consider interesting in EXXON MOBIL.
🔸From a technical perspective, we can detail that the price bounced off a strong Support Zone.
🔸Then, it broke to the upside the Descending Trendline and continued its upward movement, with a marked uptrend.
🔸We see that the price began to consolidate in a...
Oil companies have been hit hardest by the drop in oil price in the first quarter of 2020. Since then, oil has been rapidly recovering. Locally, Exxon Mobil has followed the same trend.
Exxon Mobil Corp (XOM) is moving in a large downtrend channel. We are below the middle line of this channel. If we break it, it will reach the upper resistance line.
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Long 1000 $CVX
Short 2169 $XOM
Mean Reversion Time: 12 Trading Days
XOM is an oil major, and the stock fell from 70$ to 30$ as a result of the corona-crisis
That brought economic recession and a decrease in both demand and price of oil
Later, XOM established a double bottom after retesting the lows of the pandemic
And now it is surging.
I think that buying XOM is a bet on the economic...
