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XONA trade ideas

EXXON MOBIL LONG|ECONOMIC RECOVERY BET| XOM is an oil major, and the stock fell from 70$ to 30$ as a result of the corona-crisis That brought economic recession and a decrease in both demand and price of oil Later, XOM established a double bottom after retesting the lows of the pandemic And now it is surging. I think that buying XOM is a bet on the economic recovery Which will happen eventually The target of 65-67$ is very realistic As this is the minimum of what the company should be worth without outperforming I would say, that 65$ is the price which will be achieved by just getting the demand for oil back to normal Without any further increase in oil prices. (As there is plenty of ready to go supply, so the new demand will be covered easily and so the oil price will remain stable as the oil companies revenue will grow! Therefore, Long XOM. Like and subscribe to never miss a new idea!
NYSE:XOMLong
by ProSignalsFx
1
XOM - Now it get's interesting!Welcome back to another update on Exxon Mobil. NYSE:XOM Most oil stocks showed impressive movement in the last week, a very long correction seems to come to an end. Currently we are still more than 60% away from the ATH and Exxon Mobil is still very cheap to buy. The 35% growth that we saw since the bottom of big wave 2 is very likely the first impulse of a 1-5 structure. Primary scenario: We are forming a solid 1-2 setup and will correct at least to 37$-35$. From there we will start the wave 3, which will bring us to prices above 50$ or even more. Alternative scenario: My alternative scenario will get triggered if we break the previous high of wave 1 @42.07$ The bulls will push Exxon Mobil directly to prices above 50$ and we won't see another correcting in the upcoming days. =================================================================================================================== If you have questions related to a specific stock or the Elliot Wave theory, feel free to contact me.
NYSE:XOMLong
by Mendenmein-Capital
3