Trading an Inverse Head and Shoulders Conservatively
An investor can wait for the price to close above the neckline; this is effectively waiting for confirmation that the breakout is valid. Using this strategy, an investor can enter on the first close above the neckline. Alternatively, a limit order can be placed at or just below the broken neckline, attempting to...
Since Jan 14th XOM has been in a bearish direction. It closed at 47.44 which is also near 61.8% fib level. My idea is that it'll drop to 44.00. 44.00 being marked out from my fib extension tool as well as where my support zone is at. After it hits that price then it can make its way back into a bullish direction for the longterm.
If you agree with my analysis...
Exxon Mobil (XOM) (February 2nd 2021 through 2022)
Low: $32
High: $45
2020 Q4 announcements are in a few hours.
My assessment is as follows:
I believe the guidance could be reported as negative above all else.
I think EPS has a very slim chance to barely exceed analyst expectations of 1 cent, maybe 2 to 5 cents at the max, but I'm watching for it to end up...
