XOM provides a potential short depending on today's volume and price change, another large price increase on high volume should break through resistance at $95.95 and thus provide support.
XOM should have very strong chart resistance around the $92.00 area. This is a level where the stock staged a failed breakout attempt in late July 2013. So traders should continue to look for strong resistance around that level. Currently, XOM is starting to look overbought on the daily chart, so there is a chance that the stock may not be able to trade into the...
CLOSE to a Short-Term bounce zone around $85-$86. Looking for a short-term oversold reversal and price confirmation for off the weekly trendline.
I would just buy a size Tier 1-2 $85 Sept. calls for the bounce IF it occurs. Risk would be limited as I think the primary trend on the weekly (long term) is confirming the bearish trend.
Caution: The price action has...
Finally the risk to reward is in our favor. I will look into buying between 86.50 - 84.50. Placing my stop under 84.
We have several technical indicators in our favor to expect a bullish bounce from Exxon .
1) Stochastic Oscillator is showing the stock is oversold. The green arrows on the chart show historical periods of oversold status for Exxon Mobil. If...
