I posted a longer term projection with 3 major support zones, 98 short term, 85 intermediate term and 63-65 .618% weekly long term (buy zone)
In the coming weeks i see either being capped at 103 to 108 or a temporary test at 110-115.
My projection is the blue line with upside risk (risk in terms of bears making bet) being the red line
This chart depicts my short term $108-$110 retest to complete the diamond pattern and followed by an eventual test and break of the .236 fibonacci level.
Intermediate term target is .382 Fib level after that with a bounce in the coming year to the prior Fib level of .236 (around $98). Long term target before a buy again is around $63-$65 .618 Fibonacci Level
- As we look at the chart we see that we have finished a full W1 with micros which are listed on the chart. I see us falling into a W2 for the near term future before another push higher. The blue support lines on the chart are where I expect price to be at and to buy.
I would be a buyer in the range of the blue lines.
Last year was a good year for oil stocks. This year, not so much...
Technical wise, this 50 / 200 day moving average cross or death cross is showing weakness for $XOM. The death cross only tells you that price action has deteriorated over a period a little longer than two months, if the crossing is done by the 50-day moving average. $100 is a big level that's...
-I begin this analysis by congratulating a South American country on its great financial rise in recent years.
-Until recently, this unknown and small country was not even noticed in the local scene. Due to the most recent discoveries regarding its energy potential (oil), things are changing, and this small country has attracted the attention of the big oil...
Seeing a number of large stocks that look toppy. The short short list includes KO, MSFT, MCD, AMD, CRM, DHR, and this one. The sketchy shorts include S and TMUS. The long list includes MDT.
Traditionally after last week's down close following the Fed announcement that also means at least two weeks or more of downside. A double close above last week's...
How I trade the candles. There is more not mentioned in the video but for the most part these are the basic steps I take 1st before diving into look for more confluences to help me decide during a trade.
The dividend day is behind us and the people bought for hefty dividend will pull out. A lot hesitation for going higher, at least not before a revisit to 200MA in my opinion.
A little calculated short position seems to worth it!
DO YOUR OWN RISK ANALYSIS!
Didn't want to post this until it broke above the earnings date AVWAP because, according to Brian Shannon, you don't really have confirmation until you trade above it with some strength.
I'm currently long $110C for 6/16 @ 0.53
Daily annotations showing a lot of bullish signs.
- Bounce off of year-long trendline support
- Big accumulation volume at the EOM...
Am I the only one to see the bullishness of this chart?
#exxon #spx #gold #silver
notes
massive false breakout (capitulation/exhaustion)
below 5 year moving average
move back through + retest
massive false breakdown (capitulation/exhaustion)
Is this enough evidence for you?
Some paradigm shift events unfolding before the sleep crowd.
Note, energy sector provides some of the highest dividend yields.
Oh, and yes, #gold and #silver go bonkers when #Exxon breaks out versus #Spx.
XOM is currently displaying a significant key level on the weekly timeframe. Anticipating a bounce from this key level, the expectation is for the price to move towards the highs around $120. This would mark the fifth impulse within the established channel.
Looking for Xom to get back most of its spring losses this June.. via inverted H&S.
Targets are 110 or 50sma then a pullback to form right shoulder before 114 gap close
You can see the bullish divergence on your daily RSI (Double bottom)
Price might not pullback at 110, may just keep going..
