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.
Best regards EXCAVO
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...
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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...
Can i please call the XOM double bottom at around 30 usd?
This company is rising dividends for 40 years, has a Market Cap of 161.222B and 9.13% DIVIDED YIELD.
On 10/19/2020 Morgan Stanley Lower Price Target to Equal Weight from $46.00 to $44.00
Just for comparison Zoom has a Market Cap of 136.056B.
Exxon -- traditionally far more reluctant to cut the book value...
I see some bullish signals on daily and 4h chart for EXXON Mobil Corporation.
Here is my trading plan for Exxon:
There is a gap around 35 so first of all, i expect this gap to be filled then i will aim 36.23 and 36.50.
Stop loss:33.70.
Have a nice day,
Berk.
Elliott Wave View in Exxon (ticker: XOM) shows that the stock has an incomplete bearish sequence against June 8 high. The decline from June 8 high unfolded as a zigzag Elliott Wave structure, where wave (A) ended at 44.75 low. Afterwards, the bounce in wave (B) ended at 49.8 as a zig-zag Elliott Wave Structure in lesser degree. The bounce reached the 100%...
Elliott Wave View in Exxon (ticker: XOM) shows that the stock has an incomplete bearish sequence against June 8 high. The decline from June 8 high unfolded as a zigzag Elliott Wave structure, where wave (A) ended at 44.75 low. Afterwards, the bounce in wave (B) ended at 49.8 as a zig-zag Elliott Wave Structure in lesser degree. The bounce reached the 100%...
XOM EXXON
ENTRY = Breakout Above resistance at the 236@ 47.73
1st Target = Gap fill 50.60
2nd Target = 58.63
HODL Target = 618@ 76+
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This content is for informational and educational purposes only. This is not in any way, shape or form financial or trading advice.
Good luck, happy trading and stay chill,
2degreez
Exxon Mobil (ticker: XOM) shows an incomplete bullish sequence from 3.23.2020 low favoring more upside. Short term, the rally from 5.15.2020 low is unfolding as a 5 waves Impulse Elliott Wave structure. Up from 5.15.2020 low, wave 1 ended at 46.63 and wave 2 dips ended at 43.3. Wave 3 is now in progress as another impulse in lesser degree. Up from wave 2 low at...
![XOM: [XOM] EXXON MOBIL BUY SETUP](https://s3.tradingview.com/y/yap9JWr0_mid.png "[XOM] EXXON MOBIL BUY SETUP")
