Oil hitting the negatives was a once in a lifetime event in my opinion. We may see it's use go down over the years but when the transition to clean energy begins, it'll take decades for the world to transition. XOM or any other company isn't going anywhere for a very long time.
XOM - It seems like one more high as 5th of C wave is about to start before the cycle gets finished. Buy only when start outperforming the SPX in smaller time frame.
Give thumbs up if you really like the trade idea.
$XOM has been playing nicelt according to our plan so far, now it has presented us with a new oppourtunity forming a new (POI) zone. If the price retraces back to our zone then we can look forward to go long and out next TP will be around $54 (1st TP). As always SL under the zone but make sure to leave some cushion.
Trade Safe.
I entered in a long position here at $52 for 30 contracts expiring at the end of January. Cashing out at $55 when it reaches the top of the trading range of the automatic rally.
There is a resistance that needs to be broken, but there is HBD on the daily. If it can break the resistance there it is likely to fill the gap around 50. Not financial advice..
NYSE:XOM
- Downward trend line from August 2020 broken in October 2020
- On a weekly time frame, positivedivergence RSI/Price
- MACD showing a possible reversal, however still way below 0.00
- Target price at USD 45.00, major area of resistance in April - June 2020
What do you think?
ABC and target is D/Possible pull back..
ABC targets are often calculated using the length of the AB leg and fib levels. As a rule, stop goes under C for this pattern or last pivot low..A can not be below B..
XOM looks to be forming a CUP, but I can not find a handle yet. The one I see is below mid cup of 43.28 which would invalidate the pattern..Sometimes the...
Oil companies have been hit hardest by the drop in oil price in the first quarter of 2020. Since then, oil has been rapidly recovering. Locally, Exxon Mobil has followed the same trend.
Exxon Mobil Corp (XOM) is moving in a large downtrend channel. We are below the middle line of this channel. If we break it, it will reach the upper resistance line.
Best regards EXCAVO
I apologize for the lack luster chart, Im new to publishing and just wanted this idea out there.
4-month long cup, bottom @ $31 , 1-month long handle @$44.50 = PT of $57 (38,2 FR) , $52 would also be a good exit (50% FR)
The usual way to define exit with CH is to find the difference between the bottom of the cup and the start of the handle. In this case its...
I expect the pennant to break very soon. These types of structures break sharply and it's easy to miss these trades so keep an eye, thank you for your support.
