Exxon awaiting a correction?Exxon Mobile - 30d expiry - We look to Sell at 102.98 (stop at 107.07)
We are trading at overbought extremes.
Bearish divergence can be seen on the weekly (the chart makes a higher high while the oscillator makes a lower high), often a signal of exhausted bullish momentum, or at least a correction lower.
Posted a Double Top formation on daily RSI.
Price action continues to trade around the all-time highs.
In our opinion this stock is overvalued.
There is scope for mild buying at the open but gains should be limited.
Preferred trade is to sell into rallies.
Early optimism is likely to lead to gains although extended attempts higher are expected to fail.
Our profit targets will be 92.72 and 88.72
Resistance: 103 / 105 / 110
Support: 100 / 97 / 93
Disclaimer – Saxo Bank Group.
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XONA trade ideas
$XOM Analysis, Key levels, and Targets $XOM Analysis, Key levels, and Targets
So I got a little bit trigger happy today and I sold 95 puts for Friday, but that’s ok… I’m ok with that… However, had I had thought it through I would have used these targets as entries and maybe bumped out to next week… but this is why I make these charts, so that I can make more informed decisions on the spot… and to be able to pick better strikes on the spot… LOL…
Anyway, with OPEC cutting oil production I think 95 is a good entry… and seeing it from this angle is giving me so many ideas on how to play this…. Dang I should have organized my charts weeks agolll haha…
IF you trade $XOM, $SHEL, $CVX or oil in general let me know your thoughts….
I’m going through my entire stock list this week (definitely longer than a week) so sorry in advanced for blowing up your emails…
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I am not your financial advisor. Watch my setups first before you jump in… My trade set ups work very well and they are for my personal reference and if you decide to trade them you do so at your own risk. I will gladly answer questions to the best of my knowledge but ultimately the risk is on you. I will update targets as needed.
GL and happy trading.
IF you need anything analyzed Technically just comment with the Ticker and I’ll do it as soon as possible…
10/5/22 XOMExxon Mobil Corporation ( NYSE:XOM )
Sector: Energy Minerals (Integrated Oil )
Market Capitalization: $413.096B
Current Price: $99.12
Breakout price: $100.00
Buy Zone (Top/Bottom Range): $97.60-$87.90
Price Target: $105.00-$106.20 (3rd), $120.10-$121.70 (4th)
Estimated Duration to Target: 26-29d (3rd), 85-91d (4th)
Contract of Interest: $XOM 10/21/22 100c, $XOM 12/16/22 105c, $3.80/contract
Trade price as of publish date: $2.69/contract, $3.80/contract
XOM IS BACK ON $100 WEEKLY RESISTANCE, WHAT'S NEXT?Check out the trade plan for XOM today based on the technical analysis. Hope this analysis is useful, make sure to hit the thumbs and also follow my tradingview profile for future updates. Thank you!
XOM Revisited the $100 weekly resistance formed. On the whole, it's now a triple top formed on the following resistance. At the moment the market has two possibilities with the strong bullish price action that happened recently. We are required to confirm the next possible direction with a breakout or a reversal on the highlighted area.
Short term tentative bullish on Exxon Mobil. XOMBetting on a protracted B Wave. Momentum increasing, zero divergence. Fibtime > 1.0, hence highly likelihood of a flat formation. And thus, more reason to believe a retrace to >0.786 of A. Indicators congruent. Let's see what happens next.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Confirmation level, where relevant, is a pink dotted, finite line. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe.
Exxon Mobil Hasn’t Done This All YearExxon Mobil has been drifting since the late spring along with other energy stocks. But now it’s trying to do something it hasn’t done all year.
The main pattern on today’s chart is the 200-day simple moving average (SMA), one of the most basic measures of long-term support. XOM tested that level yesterday for the first time since December, which could draw some investors from the sidelines.
Second is the trendline running along the lows of February and July.
Next, stochastics are turning up after dipping to an oversold condition.
Finally you have the recent price gap between $90.52 and $87.50. Will traders look for XOM to fill that void?
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XOM - Will The Hurricane Drive Momentum?It is time to put Oil on your radar for two reasons. One thing that is really striking is how the stores are already selling completely out of water this weekend, after visiting 8 stores and coming up empty handed. BUT, how will the country be faced with gasoline shortages as mass panic begins to strike into the human mindsets, fear, and much more. Especially with not knowing the exact placement of the hurricane and the strength of destruction as the country is facing record high inflation and the government is depleting the strategic reserves of our Oil. THEY will need to start buying the Oil off the market at a rapid pace before the price of oil begins to aggressively increase - thus fueling the demand for buying; causing a momentum spike in price action.
The Oil Markets have been looking for a catalyst and this could be just what the market needed to get some demand under it, after-all, recession or not, the U.S. needs Oil to survive and it wont' be long before the U.S. is pressured in admitting the need is critical.
I am linking my home repair and oil charts below for simplicity purposes.
My support/resistance lines are represented with the horizontal lines. You can use those as targets and/or entries for positions based on bounces of those areas or rejections.
$XOM long ideaHello dear Traders,
Here is my idea for #XOM
Wait for daily close above the yellow trigger line (previous month high) to enter trade.
We try to anticipate a 2-2 bullish reversal in the daily chart and a 2-1-2 bullish reversal in weekly chart
Targets marked in the chart (black lines)
Invalidation level marked with red line
Good luck!
❤️Please feel free to ask any question in comments. I will try to answer all! Thank you.
Please, support my work with like, thank you!❤️
Still Hanging Out Close to the TopOil has been volatile but I guess it always is.
XOM is still above the .236 fib level of the trend up.
Maybe an M forming, but I am not going there yet.
Every time I do, oil pops up again!
If this an M pattern it would maybe take this down a notch, or 2, or 3.
No recommendation.
Leg AB, the retracement leg of XA, landed at the .786.
XOM SELL SIGNAL ILLUMINATED🔸️Ticker Symbol: XOM 🔸️Timeframe: 4 Hour 🔸️Investment Strategy: Short
TECHNICAL ANALYSIS: XOM is currently flashing a sell signal on our 4H timeframe and could see the price decreasing over the next week. Our money momentum indicator on the bottom dashboard is shifting lower indicating money is flowing out of the market. We also have a red dot representing a key ema crossover to the downside. With both of these in combination I do believe we have the potential to see XOM head lower to $96 and the first level of support followed by $94.60. Thanks for following!
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⚠️ Trading is risky, and I understand nothing is guaranteed. Proper risk management should be in place at all times to minimize losses. Please consult a financial advisor before trading. All Inclusive Trading LLC is not a financial advisor and may not be held liable for any losses which may occur.
XOMDaily RSI seems to be consolidating and getting ready for a breakout. Price is seeing something similar with the range getting tighter. Daily MACD above 0 line. Weekly RSI has also been consolidating with possibly getting ready for a breakout. Could see the bearish divergence on the weekly get another test before breaking down. Weekly MACD and RSI both looking bullish.
XOM : Why Do I Think XOM will Reach 97 Soon.---------------Ticker: $XOM
----------------------Time Frame : 4H
------------------------------ Investment Strategy: Long
Trend is broken and retested the trend(Support) and rejected.
Trendsi Confirmation of Green Dot and Green line gives me full confidence, we can see XOM 97 very soon.
Follow for daily stock, crypto and forex technical analysis.
⚠️ Trading is risky, and I understand nothing is guaranteed. Proper risk management should be in place at all times to minimize losses. Please consult a financial advisor before trading. All Inclusive Trading LLC is not a financial advisor and may not be held liable for any losses which may occur.