Exxon Mobil ( NYSE:XOM ) and Chevron ( NYSE:CVX ) stocks fall on first-quarter earnings Reports. The first quarter of 2024 has brought forth a flurry of developments, shedding light on the complex dynamics shaping the future of these energy behemoths.
Earnings Woes Amidst Market Headwinds
Both Exxon ( NYSE:XOM ) and Chevron reported disappointing first-quarter...
If you haven`t bought the dip on XOM:
Then analyzing the options chain and the chart patterns of XOM Exxon Mobil Corporation prior to the earnings report this week,
I would consider purchasing the 120usd strike price Calls with
an expiration date of 2025-1-17,
for a premium of approximately $10.05.
If these options prove to be profitable prior to the earnings...
Looks to me like XOM will be returning to at least $113.50, and then $107.50 before possible correction. Share your thoughts.
Not a trade idea or advice.
XOM price is stretched.
The stock price recently broke all-time highs
RSI signals that it is overbought.
With geopolitical tension rising, it is risking to short the energy sector, but if you are looking to short XOM pay attention the weekly structure I marked on the chart.
A close below this structure could signal a weekly false breakout and trigger shorts.
Possibile break out of a cup and handle pattern on Exxon Mobil Corporation EXO .
Max target at 153.30 , Mid target at 137.30 Fib Ext Lev .
Rsi seem overbought so it remains difficult for me to identify a stop loss that I will place below the first fibonacci level .
Any suggestion is welcome !
As of the latest close, Exxon Mobil Corporation (NYSE: XOM) exhibited a commendable performance, with its stock price anchoring at $119.72 and showing a slight uptick in after-hours trading to $120.29. A review of the recent price trajectory reveals a consistent bullish pattern, sustained by a robust upward momentum that bodes well for the prospective...
Here we have combined a short/long term view of momentum via the Distance from Avg indicator. Explanation and settings noted on chart.
One add'l thought not noted on chart - the "Dots" may show divergence versus price closes, and one can take this into consideration if desired.
EXXON MOBIL has submitted a breakout above its recent resistance of $120.
For the first time on weekly scale, XOM is trading above 120 level as previous week closed above the said resistance.
Manage your risk accordingly. Upside looks promising for target of $143
XOM looks to be breaking out from a supply level that has been holding since Nov 2023.
RSI over 60, rising 55D SMA.
Stop Loss: 102.65
Target 119.92, 120.69
Note: This analysis is for educational purposes only and is not a buy/sell recommendation.
Exxon Mobil ( NYSE:XOM ) faces turbulent seas ahead as it braces for a dip in first-quarter operating results, signaling a departure from the record-breaking profits of yesteryears. With weaker oil and gas prices, coupled with significant losses in fuel derivatives, Exxon ( NYSE:XOM ) finds itself navigating through challenging terrain after two years of...
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Interpretation:
Previously disorganized Fibo clouds have gradually lined up giving favorable support to the evolution of the candles. The compacting of fibo clouds from different timeframes signals direction and strength towards the first target to be reached
Reaching the first target makes it necessary to move the stop loss to the position where the entry was...
XOM near ATH. With Bearish Divergence on the Monthly, I’m expecting a break out and rejection. Once the shooting star candle forms on the weekly, enter below the close with a 5M time horizon. I’m eyeing the 105P or 100P for September. Judging by Volume and Open Interest, I’m expecting a large move down in conjunction of an economic event.
