First of all, excuse the typo in the graph. I said vector CD ratio when I meant AD. Anyway. I used the closing values for point 3 and point 4 to calculate my positive and negative linear slopes. It would seem that the Xop downtrend bottom has been acquired. Although, using point 3's absolute low gives a value of about 37 at point 5 which could be reached next...
Long entry at or over entry level with an uptrend
Possible T2 93.05 to 107
Top 10 Holdings
DVN - Devon Energy Corp3.86%
FANG - Diamondback Energy Inc3.72%
PE - Parsley Energy Inc A3.68%
COP - ConocoPhillips3.63%
OXY - Occidental Petroleum Corp3.58%
CXO - Concho Resources Inc3.56%
COG - Cabot Oil & Gas Corp Class A3.48%
HES - Hess Corp3.46%
MPC - Marathon...
A cup and handle has formed on the hourly chart. As price struggles to find direction, it will either break out or fall to the old support and get squeezed into a breakout to the upside. If price breaks above the trendline and holds at or around any of these points, entry positions can be made and held until the conservative target price of +7.23 is reached.
If XOP's support at the bold red line holds, then there will be a breakout to the upside any time from tomorrow to next Monday. If XOP's support at the bold red line breaks, then there will be a breakout to the upside around 12 - 14 days from now. Furthermore, a breakout to the upside could lead an incoming rally with a golden cross in about half a month to a...
Daily demand Zone
Target: 70; reward:risk=6:1
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This is my 101th active trade in tradingview ideas.
Overall, I created 7 scripts, 15 analysis...
Placing an in-the-money covered call on XOP here, as the price is falling.
+100 shares of XOP @ $43.07
-1 Nov 20 short $43 call @ $6.83.
Breakeven: $40.20 (14.5%)
Div: $1.35 (2.9%)
Ext ROC: 6% ($2.8/$43.07)
Daily demand Zone was Confirmed
Trendline Break, and re-test
Target: 75; risk/reward=1:4
I am not a Pro trader. I need few months to work on rule based trading strategies.
If you like it, thank you for your support. Please use SIM/Demo account to try it, until my trading plans get high winning rate consistently.
Appears to be trying to roll up after losing primary channel (blue). Generally bearish bias, with MACD bearish and RSI bearish as well.
Short term potential for a wedge breakout, rolling up into a volume shelf at the 52-53 level which could act as resistance, as well as previous support lost at 54.50 which would also act as resistance. Like to see these...
XOP Oil & Gas Production long term down trend was confirmed on 06-12-2020. This technical analysis was conducted using Swing•Genie Cycles on a 2-day chart.
Price is currently under several down gaps (red fill), Fibonacci 0.5, and 200 SMA (blue falling line), which will act as resistance to price moving higher. Support is provided by Fibonacci 0.382, Volume Point...