The logic is that price will gravitate to liquidity. Exxon Mobile seems to have an abnormal amount of liquidity sitting above all time highs. Gut says we take out those highs pretty soon.
Here are some other considerations:
-Exxon Mobil also currently has the highest percentage of short interest in modern history.
-The company has a low valuation of 11x...
2/6/24: New Demand Zone reached. Feb '24 reached a new higher-high, which either gives sustained price above $102 and continues up (Plan A), or price falls further into demand testing $95 and adding positions along the way, reducing cost average. $95 would be the bulls last chance at breaking out of the $116-120 Supply Zone.
Impulse, followed by a correction (flat pattern 3-3-5). Target for the next wave up $15.
Daily chart is promising, expect a longer-term trend (see in the update)
NYSE:XOM just recently had earnings
I'm looking at swinging puts tomorrow because the Jeanius Algo Suite (Indicator/Screener) gave me multiple sell confluences:
Rose through 2 untested highs (~$104.91), grabbing liquidity
Retested the level that price broke to create a Change of Character (CHOCH)
Tested a downtrend line
Broke and retested an uptrend line
...
The most important thing on the chart is the steep rejection trend that is also trending upwards. It is leading into another rejection trend, which should see some resistance, but with a potential move along the steep trend into the rejection and finally into a breakout, we could see the price around 118. There is potential to keep climbing from this point, and...
Exxon Mobil ( NYSE:XOM ) has emerged from the challenging landscape of 2023 with a commendable financial performance, reporting a robust $36 billion profit for the year. The energy giant's earnings defied industry trends, surpassing estimates and signaling optimism for the future.
Beating Estimates
The beating of estimates is largely attributed to Exxon's (...
Exxon Mobil has bounced in the last two weeks, but how much higher can it go?
The first pattern on today’s chart is the $105.87 level. It was the closing price on November 6. XOM remained below it later that month and been unable to reclaim it since. That may suggest it’s become resistance.
Next, stochastics returned to an overbought condition.
Third, the...
XOM has been in a range between (116-120) and (97-100) since Oct 2022.
There is a level around 103 that has been an S/R level since Nov 2023.
Currently, Price has not sustained over 103 since Dec '23 shown on the weekly chart.
Price action is forming a wedge leading to a potential breakout at 103.
Plan would be to target the upper range by May '24. Dividend...
There are opportunities in the market to make money regardless of direction!
If it sounds crazy to you, you must educate yourself about the market!
Several types of option trades can potentially generate benefits without betting on the direction of the underlying asset (e.g., stock price). However, it's important to remember that no strategy guarantees profit,...
NYSE:XOM this is a remarkably simple U&R play. I have gone long with the undercut and today’s reversal from the low on December 12, 2023. That low was $97.48. It broke above that this morning. My stop is simple. If it closes below $97.48, I am out because it will tell me it is resuming the downtrend. Should it push higher tomorrow, I will add to my position. All...
Price in the last two month get outsinde strong long term channelup
This week there was a recovering and i think it will sonn get back inside the strong long term channel
Educational purpose, not a recommendation. XOM expected to retrace back to $120 (~16.5% potential returns) in 12 to 15 weeks provided oil market is stable.
1.25.24 This is a follow-up on Exxon which had a reversal about 2 or 3 days ago. It came to a perfect ABCD target... and there was a two-bar reversal.... and it looks like it's going to trade higher and I explained this in the video. I was a little disorganized....Sorry about that.... I was at a seminar today and I am very tired. It is important to go back to...
Nat gas saw a beautiful bullish reversal candle today.
this likely will yield more upside in the short term.
Even with this reversal, I believe Nat gas still goes lower after we complete this bounce.
Oil stocks showing strength as oil appears to be putting in a bottoming formation.
If oil breaks out, this will be a natural headwind for the market and...
Welcome to RiskMastery's Red Flag Stocks - Stocks with bearish potential.
In this edition, we'll be looking at NYSE:XOM ...
I believe this code is at a point of potential volatility.
If price can hold below $96.95 ... Bearish potential may be unlocked.
My key downside targets include:
- $88.96 (Conservative)
- $82.23 (Medium)
- $73.20 (Aggressive)
...
Oil has taken a beating but if we back out to the XOM daily chart, it's just triggered an automatic re-entry for those brave enough to bet that the price of oil isn't going to $30/barrel anytime soon.
XOM is at risk of losing support here. There was hope in OIL prices spiking due to the Red Sea crisis, which is affecting shipments of oil tankers. In terms of price action, XOM is at risk of losing support at this yellow support zone. I think we could get some tricky price action with a dip below and a bullish rebound.
